Tag: economic

Euro zone’s ‘powerhouse’ expected to slow

Euro zone’s ‘powerhouse’ expected to slow

Growth in the Germany economy, which is the euro zone’s largest, is expected to slow sharply next year as the ongoing debt crisis persists. In a closely monitored twice-yearly report, Germany’s leading economic institutes have slashed their growth forecasts for the economy from 2% next year to 0.8%, citing the debt problems in the euro [...]

October 13, 2011 More
German analyst and investor confidence down in September

German analyst and investor confidence down in September

The Zew economic sentiment index has revealed German analyst and investor confidence fell to a 2½ year low in September as the ongoing euro zone debt crisis and fears of a global slowdown dampened sentiment. The index, which measures expectations of economic activity over the next six months, fell for the seventh consecutive month to [...]

September 20, 2011 | 0 Comments More
German exports lower than expected in July

German exports lower than expected in July

Statistics office Destatis has today revealed German exports and imports fell in July – more than expected. According to Destatis, exports fell by 1.8% in July on a monthly basis compared with a 1.2% drop in June. Economists had forecast a 0.1% fall for the month. The sharp fall in exports will be of grave [...]

September 8, 2011 | 0 Comments More
UK service sector activity suffers sharp drop in August

UK service sector activity suffers sharp drop in August

Growth in the UK’s closely-watched service sector slowed in August, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) slowed at the fastest pace in over a decade to 51.1 in August from July’s reading of 55.4. The fall represented the second largest on record and was much [...]

September 5, 2011 | 0 Comments More
UK construction growth slows further in August

UK construction growth slows further in August

The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) has today revealed growth in the UK construction industry weakened in August. The PMI dipped to 52.6 in August from July’s reading of 53.5 – however, the figure was in line with expectations. Furthermore, the index remains above the crucial 50 mark, which [...]

September 2, 2011 | 0 Comments More
Stocks fall as Morgan Stanley downgrades global GDP

Stocks fall as Morgan Stanley downgrades global GDP

US banking giant Morgan Stanley today downgraded its forecast for global economic growth, sending stock markets falling throughout the world. The American bank lowered its expectations for world growth for the 2011 year to 3.9% from 4.5%, while also downgrading 2012 growth to 3.8% from 4.5%. The downgrade sent shockwaves through stock markets as double-dip [...]

August 18, 2011 | 0 Comments More
UK manufacturing activity hits 21-month low

UK manufacturing activity hits 21-month low

The Chartered Institute of Purchasing and Supply (CIPS)/Markit manufacturing purchasing managers’ index (PMI) has today revealed UK manufacturing grew at its slowest rate in almost two years in June. The closely-watched CIPS/Markit manufacturing PMI dived to a 21-month low of 51.3 last month from May’s reading of 52. June’s reading was slightly lower than the [...]

July 1, 2011 | 0 Comments More
Euro zone economic confidence index falls in June

Euro zone economic confidence index falls in June

Greece’s debt crisis continues to knock confidence after an index by the European Commission revealed sentiment fell to 105.1 in June from 105.5 in May – the lowest reading since October 2010. The fall has been attributed to the problems in Greece as EU leaders put together a second bailout package for the crisis-torn economy. [...]

June 29, 2011 | 0 Comments More
UK service sector output contracts in April

UK service sector output contracts in April

Figures from the Office for National Statistics (ONS) have today revealed output in the UK’s closely-watched service sector dived in April. According to the ONS, service sector output contracted by 1.2% in April on a monthly basis – the biggest fall since January 2010 – when the country was hit by a severe snowfall. However, [...]

UK service sector activity sinks to 3-month low in May

UK service sector activity sinks to 3-month low in May

Growth in the UK’s closely-watched service sector slowed in May, figures have revealed today. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) eased to a 3-month low of 53.8 in May from 54.3 the previous month. Analysts had expected the index to be around the 54.0 level. However, the index remains [...]

June 3, 2011 | 0 Comments More
BCC revises growth prospects for UK economy

BCC revises growth prospects for UK economy

Leading business group, the British Chambers of Commerce (BCC), has downgraded its growth prospects for the UK economy. The BCC now expects the economy to grow by 1.3% this year, slightly lower than a previous forecast of 1.4%. The figures are much lower than the 1.7% expected by the Office of Budget Responsibility but are [...]

May 30, 2011 | 0 Comments More
UK consumer confidence falls in April

UK consumer confidence falls in April

The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of April. The building society’s consumer confidence index dipped to 43 last month, from March’s upwardly revised figure of 45. The index remains just 4 points above February’s all-time low and is way below the index [...]

May 19, 2011 | 0 Comments More
UK inflation could hit 5% this year

UK inflation could hit 5% this year

According to the Bank of England, inflation could reach 5% later this year, driven higher by rising energy costs. Energy costs are rising due to the surge in crude oil on the back of the ongoing political unrest in North Africa and the Middle East. In its latest quarterly inflation report, the Bank said upward [...]

May 11, 2011 | 0 Comments More
Rics: House viewings pick up due to warm weather

Rics: House viewings pick up due to warm weather

The Royal Institution of Chartered Surveyors (Rics) has today reported a pick up in the number of house viewings in April, as a result of the warm weather. This time of year is traditionally busy for the housing market but securing a mortgage remains difficult for many potential buyers – particularly first-time buyers. Furthermore, the [...]

May 10, 2011 | 0 Comments More
Bovis sees encouraging start to the year

Bovis sees encouraging start to the year

Housebuilder Bovis Homes issued a positive statement today after saying 2011 had started well for the company and it will resume dividend payments. According to the company, pre-tax profits for 2010 were £18.5 million - more than double the £7.5 million it reported for the 2009 year. Revenues were up 6% at £298.6 million and [...]

March 14, 2011 | 0 Comments More
UK construction activity hits 8-month high

UK construction activity hits 8-month high

The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity surged to an eight-month high in February. The PMI rose to 56.5 in February, up from January’s 53.7 - confounding analysts expectations of a drop to 52.9. The index remains above the crucial 50 mark, which [...]

March 2, 2011 | 0 Comments More
Euro zone sentiment rises more than expected

Euro zone sentiment rises more than expected

A monthly survey by the European Commission has reported a rise in euro zone economic sentiment in February. The Indicator rose to 107.8 in February, up from 106.8 in January and exceeded forecasts of a reading of 106.8. In a statement, the Commission said: “The ESI (Economic Sentiment Indicator) is now above its long-term average [...]

February 24, 2011 | 0 Comments More
Australia could see contraction in Q1

Australia could see contraction in Q1

Australia, which is one of the few developed economies not to have fallen into recession like its counterparts throughout the world, could see its economy contract in the January to March period. The warning came from Treasurer Wayne Swan after the country has been hit by flood and cyclone disasters, which has led to a [...]

February 8, 2011 | 0 Comments More
IMF optimistic for faster global economic growth

IMF optimistic for faster global economic growth

The International Monetary Fund (IMF) has today provided a positive assessment for global economic growth, lifting its forecast for 2011 from 4.2% to 4.4%. However, it highlighted that risks remain from the debt crisis in the euro zone. It also warned of overheating in fast-growing emerging economies including China and Brazil - who are both [...]

January 25, 2011 | 0 Comments More
BoE not expected to make a move on interest rates or QE

BoE not expected to make a move on interest rates or QE

According to economists, the Bank of England is widely expected to keep interest rates on hold this month. The Monetary Policy Committee (MPC) commences its two-day meeting today and interest rates are expected to be kept at the historic low of 0.5% – where they have been for almost two years. In addition, analysts expect [...]

January 12, 2011 | 0 Comments More