BofA Global Research Fund Manager Survey: Prospects of Fed Taper, China Easing, Delta Variant Concerns Weigh on Growth Outlook
By Vicki Schmelzer NEW YORK (MaceNews) – Federal Reserve tapering prospects, potential People’s Bank of China easing and the fast-paced spread of the COVID-19 Delta variant weighed on the growth outlook in August, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. Even though world growth expectations slipped more markedly […]
Germany’s ZEW Economic Sentiment Plunges More than Expected in August
ZURICH (MaceNews) – The economic outlook in Germany fell for the third consecutive month in August on Covid and China growth concerns, according to the latest report from the ZEW research institute in Mannheim. Expectations fell 22.9 points from the previous month to 40.4, well below the median forecast of 57.0 in an Econoday survey […]
Bundesbank’s Weidmann Doesn’t Rule Out Tighter ECB Policy Amid Inflation Rise
ZURICH (MaceNews) – In the face of a sharp inflation increase, Bundesbank President Jens Weidmann said he doesn’t rule out higher interest rates from the European Central Bank. In an interview with the German newspaper Welt am Sonntag, Weidmann said that euro member states should not rely on the central bank to help finance an […]
Germany’s Industrial Output Unexpectedly Fell in June, Falling 1.3%
ZURICH (MaceNews) – Industrial production in Germany unexpectedly fell in June, declining 1.3 percent from the previous month, according to the latest report from the Federal Statistics Office (Destatis) The decline was in contrast to a larger-than-expected increase in factory orders reported yesterday, and also below the median for a 0.5 percent gain according to […]
German June Manufacturing Orders up 4.1% M/m, Driven by Large Orders
ZURICH (MaceNews) – Demand for German manufactured goods rose 4.1 percent in June from the previous month, driven by large orders, the Federal Statistics (Destatis) office in Wiesbaden reported. The result far exceeded expectations, with the median of and Econoday survey of economists’ forecasts calling for a 1.5 percent gain, and reversing the revised decline […]
Italy Buys Time to Clear Ambitious Fiscal Reform, Resources Needed for Tax Cuts – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is expected to clear after the summer break a series of tax cuts to support low earners and struggling firms but needs time to find resources, according to ruling coalition sources. “This is a key fiscal reform which we were hoping to approve before parliament shuts this […]
Eurozone HICP Rises Unexpectedly in July, Exceeding Expectations, Flash Estimate Shows
ZURICH (MaceNews) – Led by double digit growth for energy costs, inflation in the euro-area rose more than expected in July, rising 2.2 percent from year-ago levels, the flash estimate from Eurostat showed. The increase in HICP exceeded expectations for 2.0 percent annual gain, according the median of an Econoday survey of economists’ forecasts. Energy […]
Eurozone Economic Sentiment Increases a Sixth Straight Month, Attaining Record
ZURICH (MaceNews) – Economic sentiment in the countries sharing the euro increased for the sixth consecutive month, reaching a new high, according to data released Thursday by the European Commission. The Economic Sentiment Index (ESI) rose to 119.0 in July from 117.9 in June, beating the median expectation for 118.5 in an Econoday survey of […]
BOE’S Vlieghe Urges Extension of Loose Policy; Sets Stage for Debate at August MPC Meeting
By Laurie Laird LONDON (MaceNews) – A key Bank of England rate setter recommended an extension of loose monetary policy, teeing up what could be a vigorous debate at the next rate-setting meeting, after two officials have publicly made the case for tightening. “I think it will remain appropriate to keep the current monetary stimulus in […]
Germany’s IFO Business Climate Index Unexpectedly Fell in July Amid Supply and Covid Concerns
ZURICH (MaceNews) – A decline in business expectations led to a drop in overall business sentiment, according to the latest report from Germany’s IFO Institute. The Business Climate Index fell to 100.8 in July from a revised 101.7 (101.8) in June, coming in below the median result of 102.3 in an Econoday survey of economists’ […]