inflation
The German GfK Consumer Climate Indicator for July was released on Wednesday morning. It came in at -21.8, a sharp drop from June’s -21.0, according to data published jointly by the GfK Group and the Nuremberg Institute for Market Decisions (NIM). This was also significantly below analyst expectations of -18.9, and is the first fall in five months. Income expectations for July were considerably lower at 8.2, versus 12.5 in June, with economic prospects also plunging to 2.5 from 9.8. This was quite a reversal from the last four months, when both these indicators had been on the increase. Consum...
Euronews (English)
S&P Global released its Eurozone economic outlook for Q3 2024 on Monday morning, highlighting that growth in the Eurozone has returned mainly due to a fall in energy and commodities prices. This is likely to allow gross domestic product (GDP) growth to increase from 0.7% this year to 1.4% in 2025, a slight rise from the 1.3% predicted by S&P Global in March. Eurozone inflation is also expected to come back to the European Central Bank (ECB)’s 2% target by mid-2025, if present conditions remain more or less constant. Productivity bouncing back, wages growing at a slower pace and profit margins ...
Euronews (English)
You can add the Internal Revenue Service to the ranks of federal agencies conceding that raining taxpayer money on all and sundry to offset the negative effects of pandemic-era closures didn't go as well as intended. Not only was a program meant to offset the cost of paying workers during lockdowns and voluntary social-distancing prone to being gamed, but the "vast majority" of claims submitted to the program show evidence of being fraudulent. The Tax Man Is Shocked To Discover FraudstersIn the course of a detailed review of the Employee Retention Credit, "the IRS identified between 10% and 20...
Reason
The DAX has started to pick up pace again on Monday morning, after a mixed-bag performance late last week resulted in the index gaining 1%, then losing half of it, within the space of 24 hours. On the morning of June 24, within the first couple of hours of German markets opening, the index had gained 0.53% to trade at around $18295.61. The DAX was at approximately $18271.61 at the time of this article going to press. This reversed losses when the DAX fell 0.50% to 18,164 points on Friday June 21, after rising 1.03% to 18254.18 points on June 20. The IFO Business Climate IndexCrucial for DAX pe...
Invezz
Market focus will be on inflation readings from major economies this week, including France, Spain, Italy, the US, Canada, Australia, and Japan. Among these data, the Personal Consumption Expenditures (PCE) from the US hold the greatest significance in shaping global market trends. Additionally, the European political front remains a focus for the regional markets. EuropeThe spotlight for the euro area will be on the flash CPI from France, Spain, and Italy this week. Germany's Ifo Business Climate Index will also shed light on the biggest economy in the region. Inflation in Spain rose for the ...
Euronews (English)
Crude oil prices posed a two-week gaining streak and rose to the highest level in nearly two months last week due to optimism towards summer fuel consumption in the Northern Hemisphere, alongside a draw in the US stockpiles. The two-week gains in crude oil prices represent a 7% increase for both Brent and WTI futures. The Brent futures expiring on 25 September jumped to as high as $86.24 per barrel, the highest seen on 1 May on Friday before paring gains and opening at just above $84 per barrel on Monday. The WTI futures expiring on 4 August topped $82 per barrel for the first time since 30 Ap...
Euronews (English)
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)
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