German business sentiment improved in May after falling for two straight months but the index remained at a low level as energy shock triggered by the near closure of the Strait of Hormuz weigh on manufacturing, survey results from the ifo Institute showed Friday. The business climate index posted 84.9 in May, up from 84.5 in April. The reading was also above economists' forecast of 84.2.
Croatia's unemployment rate decreased for the third straight month in April to the lowest level in nearly a year. The registered jobless rate dropped to 3.8 percent in April from 4.3 percent in March. Moreover, a similar rate was last seen in June 2025. There were 67,521 unemployed people in April, down from 75,931 in the prior month.
UK retail sales declined at the fastest pace in nearly a year in April as consumers reduced fuel purchases after the outbreak of the conflict in the Middle East. A private survey today showed that British consumer sentiment improved in May but rising inflation and continued uncertainty around the interest rate raised concerns about the sustainability of this improvement.
Greece's current account deficit decreased in March, due to improvements mostly in the goods and services balance and the primary income account. The current account showed a deficit of EUR 2.3 billion in March, down from 3.3 billion in the corresponding month last year. The goods deficit narrowed to EUR 2.6 billion from EUR 3.2 billion as exports grew faster than imports.
German consumer sentiment is set to improve in June driven by rising income expectations and willingness to buy but the war in the Middle East continues to cloud the outlook, latest results of the NIM Consumer Climate powered by GfK showed Friday. The consumer confidence index rose unexpectedly to -29.8 points in June from -33.1 points in May. The score was expected to fall to -33.7.
Turkey's foreign trade deficit decreased in April from a year ago as exports grew much faster than imports. The trade deficit narrowed to $8.5 billion in May from $12.1 billion in the same month last year. The shortfall totaled $11.2 billion in March. Exports registered an annual growth of 22.3 percent, while imports rose only 3.1 percent.
Denmark's business confidence decreased in May from a 14-month high in the previous month. The overall business confidence index, which combines expectations in industry, construction, retail trade, and services, dropped to 104.1 from 105.5 in April. Among the four underlying confidence indicators, industry and retail trade pull down the overall business confidence in May.
The German economy expanded at a slightly faster pace in the first quarter, as previously estimated, detailed data from Destatis showed Friday. Gross domestic product grew 0.3 percent from a quarter ago, unrevised from the previous estimate and followed fourth quarter's 0.2 percent expansion. "Following...
Quarterly national accounts, business and consumer sentiment survey results from Germany and retail sales and public finance from the UK are the top economic news due on Friday. At 2.00 am ET, Destatis releases Germany's GDP data for the first quarter. The preliminary estimate showed that the largest euro area economy expanded 0.3 percent after rising 0.2 percent in the fourth quarter.
The UK private sector registered a renewed downturn in May amid the growing impact of the war in the Middle East. The flash composite output index fell to 48.5 in May from 52.6 in April. The score was expected to fall to 51.6. The downturn in the British private sector was driven by a renewed fall in service sector output, which contrasted with a stronger upturn in manufacturing production.
The European Commission downgraded its growth outlook for the euro area economy citing the unprecedented disruption to global energy markets due to the conflict in the Middle East. In the Spring Economic Forecast, the commission said the currency bloc is set to grow 0.9 percent this year, slower than the 1.2 percent projected earlier. The forecast for next year was trimmed to 1.2 percent from 1.
Households in Denmark remained more pessimistic in May. The consumer confidence index worsened to -19.8 in May from -18.6 in the previous month. The opinion regarding households' financial situation over the next year turned more pessimistic, with the respective index falling to -9.5 from -6.8 in April.
The euro area current account surplus declined in March largely due to the fall in goods trade surplus, the European Central Bank said Thursday. The current account surplus fell to EUR 15 billion from EUR 26 billion in February. In the same period last year, the surplus totaled EUR 29 billion. The...
Poland's industrial production growth moderated in April, while producer prices increased for the second straight month. Industrial production advanced 3.1 percent year-over-year in April, slower than the revised 7.5 percent growth in the prior month. Producer prices rose 1.9 percent yearly in April, following a 1.2 percent increase in March, which was the first rise since July 2023.
Italy's current account surplus increased notably in March from the previous year. The current account surplus rose to EUR 1.75 billion from EUR 0.28 billion in the corresponding month last year. The goods surplus decreased somewhat to EUR 3.75 billion from EUR 3.76 billion. Meanwhile, the deficit in services trade narrowed to EUR 1.9 billion from EUR 2.1 million.
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.