Japan Q3 GDP Slump Deeper Than Expected on Weaker Consumption, Capex
By Max Sato (MaceNews) – Japan’s economy plunged at a much faster pace than expected in the July-September quarter, after a modest rebound in April-June, as a Covid resurgence dampened shopping and dining out while supply chain disruptions hampered business investment, Cabinet Office data released Monday showed. The gross domestic product slumped a preliminary 0.8% […]
MaceNewsViews: Commentary – Democrats Celebrating (Perhaps Fleeting) Victory
By Eric Ham WASHINGTON (MaceNews) – On Monday, President Biden will sign into law the $1.2 trillion bipartisan infrastructure bill, a cornerstone of the president’s agenda, in a lavish ceremony with many supporters and even a few Republicans present. The bill provides billions for roads and bridges across the nation and much more, for instance […]
PREVIEW: Japan Q3 GDP Seen Down as Covid Spreads, Supply Squeeze Lingers
By Max Sato (MaceNews) – Japan’s gross domestic product for the July-September quarter is forecast by economists to show a 0.2% slump on quarter, or an annualized 0.8% drop, as consumers were cautious amid a resurgence in coronavirus infections and global supply chain disruptions slowed business investment and exports. The median forecast for Q3 […]
Japan October Producer Price Rise Fastest in 4 Decades on Energy, Commodities, Yen
By Max Sato (MaceNews) – Producer prices in Japan surged at the fastest annual pace in four decades, as the pandemic-caused global supply chain disruptions, labor shortages and reopening demand have pushed up the costs for production and shipments, data released Thursday by the Bank of Japan showed. The depreciation of the yen has also […]
Germany’s Current Economic Situation Negatively Impacted by Supply Bottlenecks and Inflation Concerns
ZURICH (MaceNews) – While the economic outlook for Germany improved for six months hence, current conditions are being negatively impacted by supply bottlenecks and concerns over inflation, according to the latest survey data from the ZEW Institute in Mannheim. Current conditions fell more than expected in November, with the index shedding 9.1 points to 12.5, […]
Italy’s Parliament Battle Against the ‘Citizenship Wage’ Will Open Further Cracks in Ruling Majority – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s parliament attempt to ‘dismantle’ the controversial citizenship wage will open further cracks in the governing coalition and is likely to raise political instability, according to ruling party sources. The citizenship wage – a monthly income granted to the jobless as long as they have an Italian passport – […]
US House-Passed Infrastructure Bill Gets Presidential Signature in Coming Days
By Eric Ham WASHINGTON (MaceNews) – After months of wrangling and tense back-and-forth negotiations, the House of Representatives finally passed the $1.2 trillion infrastructure spending bill shortly before midnight Friday. Saturday morning President Biden hailed it as an inflection point toward winning “the competition of the 21st century., The legislation passed 228-206 with 13 Republicans […]
FOMC: Tapering to Begin This Month at the Expected Pace
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations that tapering will get underway, starting the process this month while making no reference to the timeline of eventual liftoff other than the usual goals of maximum employment and 2% inflation. The policy announcement follows: With progress on vaccinations and strong policy support, indicators […]
Japan Oct Tokyo Core CPI Posts Only Small Gain, Led by Higher Energy Costs
— Electricity Charges, Gasoline Prices Pick Up Pace of Y/Y Gains— Mobile Communication Fees Show Deeper Drop, Limiting CPI Rise By Max Sato (MaceNews) – The core reading of consumer prices in Tokyo, a leading indicator of the national average, posted the second consecutive but small year-over-year gain in October as higher electricity bills and […]
Japan Sept Factory Output Slumps; Autos, Others Hit by Supply Delays
–Output Posts Larger-than-Expected M/M Drop, 1st Y/Y Fall in 7 Months–METI Keeps View After Downgrade Last Month: Factory Output Pausing–METI Repeats: Watch Effects of Rising COVID Cases, Global Chip Shortages By Max Sato (MaceNews) – Japan’s industrial production posted the third straight monthly decline in September, coming in weaker than expected, as protracted global semiconductor […]