The European Central Bank left its interest rates unchanged on Thursday as recent data suggest that economic recovery is continuing, albeit at a sluggish pace, while lower oil prices, stronger euro and the Chinese slowdown pose risks to the outlook. The Governing Council, led by ECB President Mario Draghi, kept the refinancing rate at a record low 0.05 percent, following the meeting in Frankfurt.
British services sector expanded at its weakest rate in over two years casting doubt about sustainability of economic growth into third quarter, a closely watched survey revealed Thursday. The services Purchasing Managers' Index dropped to 55.6, which was the weakest score since May 2013, survey results from Markit Economics and the Chartered Institute of Procurement & Supply showed.
The International Monetary Fund said strong mutual policy action is needed to lift growth, as transition in China and lower commodity prices pose downside risks to global economic outlook. "Risks are tilted to the downside, and a simultaneous realization of some of these risks would imply a much weaker outlook," the lender said in a note prepared ahead of the G-20 finance ministers meeting.
Interest rate decision from the European Central Bank is due on Thursday, headlining a busy day for the European economic news.
Australia posted a seasonally adjusted merchandise trade deficit of A$2.46 billion in July, the Australian Bureau of Statistics said on Thursday - marking a 19 percent monthly gain.
The headline figure topped expectations for a deficit of A$3.16 billion following the A$3.05 billion shortfall in the...
The total value of all building work in New Zealand climbed a seasonally adjusted 1.6 percent on quarter in the second quarter of 2015, Statistics New Zealand said on Thursday - coming in at NZ$4.061 billion.
The headline figure topped expectations for an increase of 0.5 percent following the upwardly...
The dollar is currently turning in a mixed performance Wednesday afternoon and is overall little changed on the day. The release of the Beige Book this afternoon has had no noticeable impact on the currency. Investors appear hesitant to take positions ahead of the release of the jobs report at the end...
Partly reflecting a decrease in orders for non-durable goods, the Commerce Department released a report on Wednesday showing that new orders for U.S. manufactured goods rose much less than expected in the month of July.
Labor productivity in the U.S. jumped by much more than previously estimated in the second quarter, the Labor Department revealed in a report on Wednesday. The report said labor productivity surged up by 3.3 percent in the second quarter.
Employment in the U.S. private sector saw a notable increase in the month of August, according to a report released by payroll processor ADP on Wednesday, although the pace of job growth fell short of economist estimates.
British construction sector sustained its robust growth in August, albeit at a slower pace, with continued boost from the housing sector and new impetus from the commercial sector. The seasonally adjusted Markit/CIPS UK Construction Purchasing Managers' Index rose to 57.3 from 57.1 in July, survey results from the Chartered Institute of Procurement and Supply and Markit Economics revealed.
Recent volatility in global financial markets demonstrated how much Asia is at the core of the global economy and there is reason for continued confidence in the region as the region's governments fully understand from past experience how to tackle such problems, International Monetary Fund Managing Director Christine Lagarde said Wednesday.
Australia's gross domestic product gained a seasonally adjusted 2.0 percent on year in the second quarter or 2015, the Australian Bureau of Statistics said on Wednesday.
That was shy of forecasts for an increase of 2.2 percent and down from 2.3 percent in the first quarter.
On a quarterly basis,...
The dollar is currently turning in a mixed performance Tuesday afternoon, rising against the pound sterling, but falling against the Euro and the Japanese Yen. U.S. economic data was also mixed this morning, with an unexpected decrease in the ISM manufacturing index, but a larger than expected increase...
Reflecting a jump in spending on private construction, the Commerce Department released a report on Tuesday showing that total U.S. construction spending reached its highest level in seven years in the month of July.