Eurozone industrial production declined sharply in October, defying expectations for a modest increase, raising concerns regarding the sustainability of the region's feeble recovery. Industrial production fell a seasonally adjusted 1.1 percent month-on-month in October, after dropping an upwardly revised 0.2 percent in the previous month, statistical office Eurostat said.
The Swiss National Bank on Thursday decided to maintain the franc ceiling with the exchange staying high and the "vulnerable" external economic situation posing downside risks to Switzerland. In a statement, the SNB said it will maintain the minimum exchange rate of CHF 1.2 per euro. The bank reiterated that it is ready to enforce the franc cap by buying foreign currency in unlimited quantities.
The amount of illicit cash siphoned off from developing countries jumped 13.7 percent in 2011 from a year earlier, a new report showed Wednesday.
Crime, corruption and tax evasion drained $946.7 billion from the developing world in 2011, up from $832.4 billion in 2010, according to a report from...
Australia posted a seasonally adjusted unemployment rate of 5.8 percent in November, the Australian Bureau of Statistics said on Thursday. That was in line with expectations and up from 5.7 percent in October. The Australian economy added 21,000 jobs in November to 11,659,900 - blowing past expectations for an increase of 10,000 following the addition of 1,100 jobs in the previous month.
European finance ministers on Tuesday took one step further in finalizing an agreement on a joint mechanism to deal with failing banks, despite visible divisions among member countries over the key measures of the plan. Though the ministers failed to arrive at a precise agreement on Tuesday's meeting, they appeared keen to finalize the banking resolution plan before the EU leaders meeting.
Wholesale inventories in the U.S. rose by much more than expected in the month of October, according to a report released by the Commerce Department on Tuesday. The report said wholesale inventories jumped by 1.4 percent in October following an upwardly revised 0.5 percent increase in September. Economists had been expecting inventories to increase by about 0.4 percent.
Employers in the U.S. are optimistic about hiring in the new year, according to the latest Manpower Employment Outlook Survey.
U.S. employers report a seasonally adjusted Net Employment Outlook of +13%, up from +12% during the same period last year. The data reflects the strongest first quarter intent...
British industrial production increased for the second straight month in October, boosting hopes of a strong recovery in the fourth quarter, the Office for National Statistics said Tuesday. Further, the trade data today showed that the visible trade gap narrowed as imports declined more than shipments in October.
Chinese retail sales growth accelerated in November to the strongest pace so far this year, while industrial production and fixed asset investments trailed forecasts, the latest figures from the National Bureau of Statistics revealed Tuesday, giving mixed signals on the prospects of the economy. Retail sales grew 13.7 percent year-on-year in November following a 13.3 percent gain in October.
The Eurozone finance ministers said on Monday that Greece's creditors are unlikely to conclude the ongoing review of the country's fiscal adjustment program in December as more progress is required on the already agreed measures. The Troika comprising the International Monetary Fund, the European Union and the European Central Bank will return to Athens on Tuesday.
The Federal Reserve may taper their $85 billion dollar per month asset purchase plan next week in response to better-than-expected jobs growth, said James Bullard, the president of the St. Louis Federal Reserve Bank. Job growth in the month of November pushed the unemployment rate down to a five-year low of 7 percent, the Labor Department reported on Friday.
The risks associated with the Federal Reserve's unprecedented support measures are beginning to outweigh further benefits, according to Richmond Fed President Jeffrey Lacker.
In the first of today's three speeches from Fed officials, Lacker argued that there is little more that the central bank can...
Casting doubt over the sustainability and strength of recovery, German industrial production declined for the second consecutive month in October with contractions in all sub-sectors. Moreover, exports from the largest euro area economy slowed notably. Industrial production fell unexpectedly by 1.2 percent month-on-month, while it was forecast to rise 0.7 percent, data showed Monday.
Consumer prices in China rose less than expected in November amid a slowdown in food price inflation, the latest figures from the National Bureau of Statistics revealed Monday. The consumer price index rose 3 percent year-on-year in November compared with expectations for a 3.1 percent increase. In October, the rate of inflation was at an eight-month high of 3.2 percent.
Consumer sentiment in the U.S. has improved by much more than anticipated in the month of December, according to a report released by Thomson Reuters and the University of Michigan on Friday. The report said the preliminary reading on the consumer sentiment index for December jumped to 82.5 from the final November reading of 75.1. Economists had been expecting the index to edge up to 75.5.