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

U.S. service industries expanded at the best pace since February amid a rebound in employment, a signal of labor- market strength before the governments jobs report due Friday. The non-manufacturing index rose to 56.9 in May, according to an Institute for Supply Management survey Wednesday that topped almost all economist estimates in Bloombergs survey. Three of four...

Australia's consumption, as represented by retail sales, dropped in the month of April, missing estimates by a big margin, the Australian Bureau of Statistics (ABS) reported on Tuesday. The retail sales arrived at -0.1 percent month-on-month, compared to the forecast of +0.2 percent and down from previous month's reading of +0.3 percent. œThe trend estimate rose 0.2% in April 2019. This...

The Institue for Supply Management's (ISM) latest Manufacturing PMI came in at 52.1 in May following April's 52.8 reading and fell short of analysts' estimate of 53 to show an expansion in the manufacturing business activity at a slower pace than expected. The New Orders Index registered 52.7%, an increase of 1 percentage point from the April reading of 51.7%. The Production Index registered...

China's May Caixin manufacturing PMI came in at 50.2 vs. 50.0 expected and 50.2 last, as operating conditions improved for the first time in four months. On Friday, the purchasing managers' index (PMI) for China's manufacturing sector arrived at 49.4 in May, down from 50.1 in April, the National Bureau of Statistics (NBS) reported. œChinese manufacturing firms signalled a further slight...

The outlook for China's manufacturing sector deteriorated more than expected in May, as weakness in the domestic economy combined with escalation in the trade standoff with the U.S. The manufacturing purchasing managers' index (PMI) dropped to 49.4, according to data released by the National Bureau of Statistics on Friday. That's worse than the 49.9 forecast in a Bloomberg survey of...

U.S. economic growth last quarter was revised down by less than expected amid stronger consumption and exports than initially reported, suggesting the expansion was on relatively firm footing before President Donald Trump's escalation of the trade war with China. Inflation-adjusted gross domestic product increased at a 3.1% annualized rate in the January-March period, compared with an...

The main focus is on Private Capital Expenditure where a small decline in expenditure for Q1 2019 was expected on the street. Analysts at ANZ Bank Australia were noting that Business conditions had not recovered since the deterioration in late 2018, while trade tension overseas sows doubt, adding: "Mining capex is nearing the end of its downturn and plans for 2019-20 are upbeat. We expect only...

Orders for durable or long-lasting goods fell sharply in April, mostly because of falling demand for Boeing jets and new cars and trucks. Business investment also continued to weaken, reflecting worries about the China trade fight and a slower U.S. economy. Orders for durable goods ” products meant to last at least three years ” dropped 2.1% in April, the government said Friday. The...

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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