Italy Govt To Extend Loans Freeze, Boost State-Backed Guarantees – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is expected to extend a key pandemic loans payment moratorium which expired in December 2021, and boost state-backed guarantees for private investments, according to ruling coalition sources. The extension of both measures, set-up in the wake of the COVID-19 crisis to help struggling firms’ and families access […]
US Service Sector Climate Slumps To 11-Month Low in January As Covid Bites
— Supply Bottlenecks, Labor Shortages Continue To Block Quick Recovery— Service Providers Struggling To Replenish Inventories By Max Sato (MaceNews) – The recent spike in Covid cases hurt the service sector in the US in January as the ISM services index fell 2.4 points to an 11-month low of 59.9 from 62.3 (revised from 62.0) […]
ECB Sounds More Hawkish Note But Leaves Policy Unchanged
— President Christine Lagarde Acknowledges that Inflation is More Likely to Overshoot Target (MaceNews) – The European Central Bank “will not be complacent” about record-high eurozone inflation, a more hawkish stance from ECB President and long-term dove Christine Lagarde Thursday. “Compared to December, inflation risks are tilted to the upside, particularly in the near term,” […]
Bank of England Lifts Rates; Sends Hawkish Signals
— Decision was a “close call,” says governor, as four members argue for a steeper increase LONDON (MaceNews) – The Bank of England lifted interest rates for the second straight meeting — the first consecutive hikes since 2004 —but surprised the markets with a decidedly hawkish outlook, according to minutes of the February Monetary Policy Committee […]
US ISM Manufacturing Index Hits 14-Month Low in January As Supply Delays, Labor Shortages Linger
–ISM: Firms Seeking Supply-Demand Equilibrium; New Orders Plunge–ISM Concerned About Backlog Orders Slide To 15-Month Low–Supplier Delivery Delays Easing But Still Hurting Production By Max Sato (MaceNews) – The U.S. manufacturing sector index compiled by the Institute for Supply Management Tuesday fell to a 14-month low of 57.6 (versus the Econoday consensus forecast for 57.5) […]
Japan December Unemployment Dips; Fewer Workers Quit To Look For Better Jobs
— Job Cuts on Year Linger in Industries Hit by Supply Delays, Covid Restrictions — Japan 2021 Jobless Rate Stays at 2.8%, Pace of Job Cuts Decelerates By Max Sato (MaceNews) – The pandemic is keeping the recovery in the Japanese labor market slow as some sectors continued to trim payrolls from year-earlier levels, but […]
KC Fed’s George: FOMC Needs to Move ‘Deliberately’ To Raise Federal Funds Rate
Funds Rate ‘Far Away’ From ‘Normal’ Monetary Policy ‘Out of Sync’ With Economic Outlook By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George said Monday that the Fed needs to move “deliberately” to withdraw the unprecedented monetary stimulus adopted to counter the Covid lockdown-induced recession. George, who is voting this […]
Analysis: Italy’s Government Weaker After Tricky Presidential Vote; 2023 Vote Outcome Uncertain – Sources
By Silvia Marchetti ROME (MaceNews) – The “forced” reappointment of Sergio Mattarella as Italy’s head of state despite his initial unavailability for a second term marks a further weakening of the government and its reformatory push as parties come to terms with their vulnerabilities, according to Italian party sources. “Party talks have failed in striking […]
Japan December Factory Output Dips After November’s Record High Rise
— General, Production Machine Output Lower; Autos Continue Picking Up— METI Repeats: Factory Output Shows Signs of Pickup— METI: Effects of Rapid Spread of Pandemic, Parts Shortages Emerging By Max Sato (MaceNews) – Japan’s industrial production posted the first drop in three months in December, taking a breather after a surge in November, but carmakers […]
Japan METI Unintentionally Posts +1.4% M/M Dec Retail Sales Hours Early
— METI Official: Data Embargoed on New Internal Computer System— METI Official: May Be Due To Human Error But Cannot Confirm Yet By Max Sato (MaceNews) – Japanese retail sales rose modestly, posting the third straight year-on-year rise in December, when consumers appeared to have braved the early stage of the Omicron storm during the […]