Britain’s industrial output grew at its slowest pace in a year in the quarter to July, although there was a slight easing of inflationary pressures and a rebound in investment, a quarterly survey showed. According to data from the British Chamber of Industry, the manufacturing balance in the industrial trends survey fell to 6 points […]
Tag: International financial news
What is Bin Salman doing in Athens?
Commented by Ronald Maynardous* The visit carries a special symbolic message: it is the first time in more than four years that Saudi Crown Prince Bin Salman has set foot in an EU member state on an official mission. Behind him is a period of diplomatic ostracism. The countries of the western world did not […]
Italy: Prepares a new program to stimulate the economy up to 13 billion euros
Italy is preparing a new economic stimulus program of up to 13 billion euros to help businesses and families cope with rising electricity, gas and fuel costs, Deputy Economy Minister Laura Castelli said. The new scheme, which comes on top of €33bn budgeted since January, is expected to be one of the last major moves […]
Japan: The government downgraded estimates for GDP growth in the fiscal year
The Japanese government cut its estimates for economic growth this fiscal, mainly due to a slowdown in overseas demand, highlighting the impact of Russia’s war in Ukraine, strict lockdowns in China due to the coronavirus and a weakening global economy. The forecast, which serves as the basis for drawing up the government’s state budget and […]
Germany: Ifo’s business confidence index worsened sharply
Business confidence in Germany plummeted in July as businesses grew more pessimistic due to rising energy costs and the threat of gas shortages. The Ifo business climate index fell to 88.6 points in July from a revised figure of 92.2 points in June, according to data from the Ifo Institute. This is the lowest level […]
Kazaks (ECB): Maybe the ECB is not done with the big interest rate hikes
The European Central Bank may not be done with big interest rate hikes after last week’s surprise 0.5% increase, according to ECB member Martins Kazaks. “I wouldn’t say that this was the only such move, I would say that the rate hike in September should also be quite significant,” Kazaks, one of the ECB’s “hawks,” […]
Rising inflation and supply chain disruptions are changing consumer habits worldwide
Ready to make radical changes in their buying habits in response to disruptions in the supply chain, but also to rising inflation, say consumers, especially those facing problems related to the distribution and availability of products. The above results from PwC’s Global Consumer Insights Survey conducted on a sample of 9,069 consumers from 25 different […]
Holzmann (EKT): We might accept a moderate recession in the eurozone in order to tame inflation
The European Central Bank may have to accept a moderate recession to control inflationary price pressures if it sees signs that inflation expectations are strongly rising, Robert Holzmann, a member of the Bank’s management board, said, as reported by Bloomberg. . “We hope that this will not become necessary,” Holzmann told Austrian state broadcaster ORF […]
Singapore: Inflation recorded the biggest increase in the last 13 years in June
Inflation in Singapore posted its biggest rise in 13 years in June as transport and accommodation costs soared and structural inflation accelerated. The consumer price index stood at 6.7% in June from a year earlier, according to the statistics office. This was the biggest increase since 6.8% in September 2008, and beat estimates for a […]
Janet Yellen: No sign that the US economy is in recession
US Treasury Secretary Janet Yellen expressed confidence in the US Federal Reserve’s fight against inflation and said she sees no sign that the US economy is in a broad recession. “We are likely to see some slowdown in job creation,” Yellen said on NBC’s “Meet the Press” on Sunday, according to Bloomberg. “I don’t think […]