A nationwide lockdown due to the coronavirus outbreak triggered a record fall in U.K. retail sales in April, the Office for National Statistics reported Friday. The volume of sales fell 18.1% in April on the year, the biggest monthly drop on record, following a slide of 5.2% in March. All sectors saw a monthly decline in volume sales except for a record rise in sales for non-store retailing of 18% and a continued gain in sales for alcohol stores at 2.3%. The volume of clothing sales plunged by 50.2% compared to March, which had seen a 34.9% drop. The data also revealed the biggest amount...

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The global health crisis dealt a swift, painful blow to the U.S. economy in March, with a gauge of activity at service providers and manufacturing contracting the most on record. The IHS Markit composite index of purchasing managers tumbled 9.1 points to 40.5, marking the steepest drop in data back to October 2009, the group reported Tuesday. The plunge mirrors the rapid deceleration in other...

The flash U.K. composite purchasing managers index fell in March to a survey low of 37.1 from 53 in February, according to the latest data from IHS Markit/CIPS. Any reading below 50 indicates deteriorating conditions. The services index plunged to a record low 35.7 from 53.2. "Historical comparisons indicate that the March survey reading is consistent with GDP falling at a quarterly rate of...

The flash eurozone composite purchasing managers index in March plummeted to a reading of 31.4 from 51.6 in February, which is a record low since the series began in July 1998. The services PMI plunged to 28.4 from 52.6 in February. Any reading below 50 indicates contracting conditions. "The March PMI is indicative of GDP slumping at a quarterly rate of around 2%, and clearly there's scope for...

The COVID-19 and emergency response form the Reserve Bank of Australia has stripped away the importance, or rather, the sense of urgency surrounding this data, but for what it is worth at this stag in the game,here is the outcome of February's report where a key focus has been on the Unemployment Rate. Australia Jobs data : Australia Feb Employment +26.7k s/adj (Reuters poll:...

U.S. retail sales fell in February, indicating the main driver of the U.S. economy, consumer spending, had begun to slow even before coronavirus containment measures began rippling through the economy. The value of overall sales decreased 0.5% from the prior month after a 0.6% gain in January, Commerce Department figures showed Tuesday. The median estimate in a Bloomberg survey called for a...

The German ZEW headline numbers for March showed that the Economic Sentiment Index came in at -49.5 versus -26.4 expectations and 8.7 last. While the sub-index Current Conditions figure arrived at -43.1 in March versus -30.0 expected and -15.7 booked previously. Meanwhile, the Eurozone ZEW economic sentiment for March stood at -49.5 vs. 35.4 expected and 10.4 last. Meanwhile, the Eurozone ZEW...

China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the economic fallout now facing the global economy as the virus spreads around the world. Industrial output plunged 13.5% in January and February from a year earlier, versus a median estimate for a 3%...

The US Core Consumer Price Index has risen by 2.4% in February, above 2.3% that was on the cards. On a monthly basis, underlying prices rose by 0.2% as expected. Headline inflation rose by 0.1% monthly and 2.3% yearly, both exceeding estimates. The Federal Reserve targets price stability and an increase in inflation is, in theory, a reason to raise interest rates. However, investors are focused...

ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The...
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
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will...

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