IFO: GERMAN BUSINESS CONFIDENCE DECLINES IN JANUARY ON CORONA
By Marco Babic ZURICH (MaceNews) – German business conditions started the year off on a negative note as the second wave of the COVID-19 pandemic pushed both current conditions and business expectations lower, the Munich-based Ifo Institute said in a report Monday. Ifo’s Business Climate Index for January fell to 90.1 in January from a […]
DATA PREVIEW: 4Q GDP, IMF’S WEO, FOMC, DURABLE GOODS
WASHINGTON (MaceNews) – The upcoming week is packed with economic data, including the fourth quarter GDP, as well as a Federal Open Market Committee policy update and Chair Jay Powell’s news conference, and an update to the IMF’s World Economic Outlook. The GDP report is Thursday. The various GDPNow estimates don’t agree, with the New […]
JAPAN GOVT SEES CONTINUED ECONOMIC PICKUP AMID MIXED DATA, UPGRADES VIEW ON CHINA
By Max Sato (MaceNews) – Japan’s government Friday stuck to its recent assessment that the domestic economy is showing signs of a pickup from the pandemic-caused slump, pointing to a mixed bag of data – more cautious consumer spending against brighter spots in business investment and housing construction, according to its monthly report released by […]
JAPAN DEC CPI DROPS FURTHER ON LOWER ENERGY COSTS; HOTEL FEE DROP EASES AMID PANDEMIC
By Max Sato (MaceNews) – Japanese consumer prices posted a slightly sharper drop in December as energy costs continued falling. But a spike in coronavirus cases later in the month appeared to have slowed the use of the government-financed hefty discounts on hotel and transport charges, data from the Ministry of Internal Affairs and Communication […]
BOJ KEEPS EASING POLICY STANCE AMID PANDEMIC, SLIGHTLY MORE UPBEAT ON FY21, 22 GROWTH
–Central Bank Still Sees Under 1% Inflation in 2 Years, Well Below 2% Target By Max Sato (MaceNews) – The Bank of Japan has maintained its policy stance, as expected, after extending the period of special easing tools last month amid growing downside risks, while continuing to forecast that the domestic economy will recover part […]
JAPAN DEC EXPORTS POST 1ST RISE IN OVER 2 YEARS AMID UNCERTAIN OUTLOOK
By Mas Sato (MaceNews) – Japanese exports recorded the first year-on-year gain in just over two years, as largely expected, thanks to a recent gradual pickup in global demand, but the outlook for one of the key growth drivers for slow domestic recovery remains uncertain amid a surge in new coronavirus cases in many parts […]
ITALY’S CONTE WINS SENATE VOTE BUT LACKS STABLE MAJORITY TO PURSUE GOVT AGENDA
By Silvia Marchetti ROME (MaceNews) – Italy’s Prime Minister Giuseppe Conte Tuesday has won a key Senate confidence vote but with only a “relative majority” that hampers the government from fully ruling and efficiently pursuing its agenda. The final vote result was 156 yes and 140 no votes. The political crisis, triggered when the minor […]
GERMAN ECONOMIC EXPECTATIONS START 2021 ON A POSITIVE NOTE, ZEW REPORTS
By Marco Babic ZURICH (MaceNews) – Expectations for Germany’s economy started the year off on a positive note, even in the face of uncertainty about new COVID-19 restrictions, with the outlook for the export market in particular providing a foundation for optimism. The ZEW Institute’s Indicator of Economic Sentiment rose 6.8 points to 61.8 in […]
ITALY’S PM CONTE WINS LOWER HOUSE CONFIDENCE VOTE; SENATE CHALLENGE AHEAD
By Silvia Marchetti ROME (MaceNews) – Italy’s Prime Minister Giuseppe Conte won on Monday a key vote of confidence in the Lower House with 321 votes out of a total 630, six more than the absolute majority required. The main challenge will be on Tuesday morning at the Senate where the ruling coalition has a […]
STATUS CHECK COMMENTARY: WASHINGTON’S IDEOLOGICAL BATTLE AT INFLECTION POINT
–‘I Have a Dream’ or “I Have a Nightmare?’ WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes. • Great battles seldom preserve the status quo and the one shaping up in Washington could greatly accelerate ideological change or usher in an […]