Shrinking order books and expectations for a decline in output signal companies in Europe™s largest economy are bracing for a possible recession. German manufacturing shrank for an eighth month in August, barely offset by still-solid services, according to IHS Markit. Overall business confidence declined and orders fell for the third time in four months. A Purchasing Managers™ Index stood at 51.4, close to its lowest level in six years. GDP declined in the April-June period, and persistent signs of weakness in Europe™s powerhouse -- driven in particular by...

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RECENT NEWS

Pending home sales rose in June, with activity particularly brisk in the western part of the U.S., a trade group said Tuesday. The National Association of Realtors said pending home sales climbed 2.8%, with gains in each of the four major regions, including a 5.4% jump in the West. Compared to 12 months ago, sales rose 1.6%, the first year-over-year gain in 17 months. The NAR attributed the...

U.S. economic growth slowed in the second quarter by less than forecast as consumer spending topped estimates, though weaker business investment and exports underscored the risks spurring the Federal Reserve toward an interest-rate cut next week. Gross domestic product expanded at a 2.1% percent annualized rate, according to Commerce Department data Friday that topped forecasts...

The data published by the US Census Bureau today revealed that Durable Goods Orders in June increased by 2% following May's 2.3% decline and beat the market expectation of +0.7%. Other data from the US showed that the Goods Trade Deficit widened to $74.17 billion in June and the weekly Initial Jobless Claims dropped to 206K to come in better than analysts' estimate of 219K. With the initial...

German manufacturing activity recorded the worst performance in seven years in the month of July, the latest manufacturing activity report from IHS/Markit research showed this Wednesday. The German manufacturing purchasing managers index (PMI) arrived at 43.1 versus 45.0 expected and 45.2 previous. Meanwhile, services PMI hit a two-month low level of 55.4 as against previous months reading of...

U.K. retail sales unexpectedly rose last month, ending a downbeat second quarter on a more positive note. The volume of goods sold in stores and online climbed 1% in June after dropping for the previous two months, the Office for National Statistics said Thursday. Economists surveyed by Bloomberg had predicted another fall. Sales were up 0.7% in the second quarter, adding 0.04...

Australian employment rose 500 in June as a slide in part-time positions countered gains in full-time work. Jobs increase compared with economists forecast of a 9,000 gain; the unemployment rate remained at 5.2%, as expected by economists. Full-time positions rose 21,100; part-time roles fell 20,600. Participation rate stayed at 66%; est. 65.9%. Source : Bloomberg

The UK Consumer Prices Index (CPI) 12-month rate came in at 2.0% in June, when compared to 2.0% booked in May while coming in line with expectations of a 2.0% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.8% y/y versus 1.7% booked in May while matching the consensus forecast...

Sales at U.S. retailers rose solidly in June for the fourth month in a row, pointing to a strong rebound in consumer spending in the second quarter that suggests the economy is not as fragile as the Federal Reserve apparently believes. Retail sales increases 0.4% last month, the government said Tuesday. Economists polled by MarketWatch expected a 0.1% gain. The increase was an even larger 0.7%...

ASIA
Japan's Wage Gains Accelerate in November Despite Gloomy Outlook
Wednesday, 9 January 2019 07:18 WIB Japanese wages rose more than expected in November, offering hope of stronger consumer spending that could fuel inflation if gains are...
UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs...
EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash...
GLOBAL ECONOMY
Trump Says China Will `Reduce and Remove' Car Import Tariffs
Monday, 3 December 2018 12:08 WIB U.S. President Donald Trump said China has agreed to œreduce and remove tariffs on American cars from 40 percent currently. He gave...

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