inflation
The preliminary estimates for the HCOB Eurozone manufacturing purchasing managers’ index (PMI) figure for June was revealed on Friday morning, coming in at 45.6, according to S&P Global. This was a six-month low, as well as quite a drop from May’s 47.3. However, due to June’s number still being under 50, the Eurozone manufacturing sector is still considered to be contracting, whereas a number over 50 would mean growth. June was the 15th month in a row of contraction, mainly due to new orders, employment and export figures lagging. Several companies also faced more rising input costs, while sel...
Euronews (English)
This morning, the Office for National Statistics (ONS) reported that the United Kingdom’s retail sales for May 2024 climbed by close to 3% – thanks in part to the weather. Spending heated up dramatically for the nation last month – which the Met Office climate summaries reported as the warmest May on record, in a series going back to 1884. Spending up by almost 3%According to the ONS report, which covered UK sales from 28 April to 25 May 2024, retail sales volumes surged by 2.9% in May, following a fall of 1.8% in the previous month (the final figure, revised from an initial estimation of a fa...
Invezz
Bruxelles (Belgique) (AFP) - La reprise de l'activité du secteur privé s'est fortement essoufflée dans la zone euro en juin, l'activité manufacturière enregistrant son plus fort repli depuis six mois, selon l'indice PMI Flash publié vendredi par S&P Global. L'indice, calculé sur la base de sondages d'entreprises, a glissé à 50,8, son plus faible niveau depuis trois mois, contre 52,2 en mai. L'activité continue de progresser, pour le quatrième mois consécutif, mais à un rythme fortement ralenti: un chiffre supérieur à 50 signale une croissance de l'activité, tandis qu'un chiffre en-deçà reflète...
AFP (Français)
The International Monetary Fund (IMF) has released its 2024 Concluding Statements on Common Policies for member countries, highlighting both the progress and the persistent challenges facing the euro area economy. Following the disruptions caused by the pandemic, Russia’s gas supply halt, and the ongoing war in Ukraine, the region is gradually recovering. Inflation rates are moving towards target levels, and banks have demonstrated resilience amid rising interest rates. Weekly Recap: European markets stabilise as French election approachesNonetheless, significant challenges persist, such as re...
Euronews (English)
The Swiss National Bank announced on Thursday morning that it would be cutting interest rates to 1.25%, a further decrease of 25 basis points. This is mainly due to the central bank anticipating that although inflation did increase slightly in April, coming up to 1.4% in May, it is now expected to come down to about 1.3% for the rest of the year, as inflationary pressures reduce. Furthermore, if interest rates remain constant at 1.25%, the central bank also conditionally expects inflation in 2025 to touch 1.1% and in 2026 to come down once more to 1%. Regarding their interest rate decision tod...
Euronews (English)
Bank of England on Thursday kept interest rates unchanged at 5.25%. This is the seventh consecutive meeting at which the central bank has held interest rates steady. In a statement, BoE stated: At this meeting, the Committee voted to maintain Bank Rate at 5.25%. Headline CPI inflation has fallen back to the 2% target. The restrictive stance of monetary policy is weighing on activity in the real economy, is leading to a looser labour market and is bearing down on inflationary pressures. Key indicators of inflation persistence have continued to moderate, although they remain elevated. Monetary p...
Invezz
Norway's central bank has held its base rate at 4.5%, keeping borrowing costs at their highest level since 2008. The committee cited concerns about robust wage growth, which could continue to put upward pressure on inflation. "Since the last report, price inflation has been slightly lower than forecast, while unemployment has increased as expected," said the bank in a statement. "On the other hand, the companies in our regional network are reporting better prospects, and wage growth looks set to be higher than we previously envisioned. This may indicate that price growth will be higher in the ...
Euronews (English)
Das Ifo-Institut hat seine Prognose für das Wirtschaftswachstum in Deutschland im laufenden Jahr von 0,2 auf 0,4 Prozent angehoben. Die Kaufkraft der privaten Haushalte steige, der Export dürfte anziehen: «Die deutsche Wirtschaft arbeitet sich langsam aus der Krise», sagte Ifo-Konjunkturchef Timo Wollmershäuser in Berlin. Die Wirtschaftspolitik der Bundesregierung trage allerdings zur Verunsicherung der Konsumenten und Investoren bei. Die Löhne stiegen, die Inflation dürfte dieses Jahr weiter abflauen auf 2,2 Prozent. Damit könnte der zu Jahresanfang sogar rückläufige Konsum der privaten Haush...
DPA (German)
The German year-on-year producer price index (PPI) report for May was released on Thursday morning, coming in at -2.2%, up from April’s -3.3%, according to the Federal Statistical Office. However, this was still slightly higher than analyst expectations of -2%. The producer price index looks at inflation at a wholesale level, by comparing how the prices that domestic manufacturers receive for their products changes over time. May’s figure marked the 11th month in a row that producer prices had declined, however, it was still the lowest number during this period. This was mainly due to energy p...
Euronews (English)
The Swedish unemployment rate in May was released on Wednesday morning, coming in at 8.7%, down from 8.9% in April, according to Statistic Sweden. This was also a three-month low. However, it was still a jump from May 2023’s 7.9%. The number of people without a job increased to 496,000, a rise of 41,000. On the other hand, the number of people with jobs fell to 5.187 million, a decline of 112,000. The employment rate for May 2024 was 68.3%, which was a fall of 1.5%. The labour force rate, which measures the number of employed people, as a percentage of the number of people falling within the w...
Euronews (English)
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