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

Chinas exports fell in April and imports rose, before the abrupt turn in the trade talks that has led to a re-escalation of the dispute with the U.S. Exports dropped 2.7 percent in April, while imports expanded by 4 percent last month, leaving a trade surplus of $13.84 billion, the customs administration said Wednesday. Economists forecast that exports would tick up by 3...

Australia's consumption, as represented by retail sales, rose slightly in the month of March, bettering estimates, the Australian Bureau of Statistics (ABS) reported on Tuesday. The retail sales arrived at +0.3 percent month-on-month, compared to the forecast of +0.2 percent and down from previous month's reading of +0.8 percent. The trend estimate rose 0.3% in March 2019. This follows a rise...

Activity in China's services sector further improved in April, with export sales rising at a record pace, a private business survey showed on Monday, although the longer-term outlook for new orders stayed subdued due to global economic uncertainties. The Caixin/Markit services purchasing managers' index (PMI) climbed to 54.5, the highest since January 2018 and slightly up from 54.4 in March....

The Institute for Supply Management's Non-Manufacturing PMI fell to 55.5 in April from 56.1 in March and fell short of the market expectation of 57. With the initial market reaction, the US Dollar Index turned south and erased a large part of yesterday's gains. As of writing, the index was down 0.17% on the day at 97.67. Commenting on the data, "The non-manufacturing sector has experienced an...

The economy generated a stronger than expected 263,000 new jobs in April, helping to drive down the unemployment rate to a 49-year low of 3.6%. The increase in new jobs easily topped the 217,000 MarketWatch forecast. The jobless rate slid from 3.8% in March to hit the lowest level since December 1969. The average wage paid to American workers rose 6 cents, or 0.2%, to $27.77 an hour. The...

Approvals for the construction of new homes hit a wall in March as units and townhouses drove a seasonally adjusted 15.5 per cent decline in overall activity. Approvals for private sector houses fell 3.2 per cent, while the "other dwellings" category, which includes apartment blocks and townhouses, plunged 30.6 per cent. Building and construction economist for BIS Oxford Economics Tim Hibbert...

The Institue for Supply Management in its latest Manufacturing ISM Report On Business said that the economic activity in the manufacturing sector expanded at a slower pace than expected in April with the headline PMI slumping to 52.8 from 55.3 in March and falling short of the market expectation of 55. Assessing the data, "Comments from the panel reflect continued expanding business strength,...

In its monthly Consumer Confidence Survey, The Conference Board reported that the consumer sentiment improved to 129.2 in April from 124.2 in March. According to the press release, both the Present Situation and the Expectation sub-indexes rose from March levels. Commenting on the data, "Overall, consumers expect the economy to continue growing at a solid pace into the summer months. These...

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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