Global Economic News


germanyindustrialproduction-oct08_22jul19.jpg Germany's finance ministry warned on Monday that the weakness in the industrial sector and exports is set to last longer, mainly due to global risks such as the trade tensions. "Leading indicators and falling orders indicate a persistently weakened industrial economy," the ministry said in its latest monthly report.

ukgdp-oct10_22jul19.jpg The UK economy may have already entered a recession and the outlook beyond October is very murky with the possibility of a severe downturn in the event of a disorderly no-deal Brexit, the National Institute of Economic and Social Research, or NIESR, said in a report on Monday. The think tank said there is one-in-four chance that the economy has already entered a technical recession.

Hong Kong is scheduled to release June figures for consumer prices on Monday, headlining a light day for Asia-Pacific economic activity. In May, the annual inflation rate was 2.8 percent. Japan will provide June numbers for convenience store sales; in May, sales were up 1.7 percent on year.

consumershopping-071919.jpg Reflecting an uptick in expectations, the University of Michigan released a report on Friday showing a slight improvement in U.S. consumer sentiment in the month of July. The preliminary report showed the consumer sentiment index inched up to 98.4 in July from the final June reading of 98.2.

ukpublicfinancedata-july19.jpg The UK budget deficit widened to the highest June level in four years on bigger government spending, the Office for National Statistics reported Friday. Public sector net borrowing excluding public sector banks rose by GBP 3.8 billion from the previous year to GBP 7.2 billion, the highest June borrowing since 2015 and well above the expectations of GBP 3.9 billion.

preview-july19.jpg Public sector finance data from the UK is due on Friday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's producer prices for June. Economists forecast prices to fall 0.1 percent on month and to rise 1.5 percent annually.

Overall nationwide consumer prices were up 0.7 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday - unchanged and in line with expectations. Core consumer prices, which excludes food prices, rose an annual 0.6 percent - again matching forecasts and down from...

Japan will on Friday release June numbers for nationwide consumer prices, highlighting a light day for Asia-Pacific economic activity. Overall inflation is expected to hold steady at 0.7 percent on year, while core CPI is expected to slow to 0.6 percent from 0.8 percent in May. Japan also will...

leading-indicator-index-071819.jpg Reflecting weaknesses in new orders for manufacturing, housing permits, and unemployment insurance claims, the Conference Board released a report on Thursday showing an unexpected decrease by its index of leading U.S. economic indicators in the month of June. The Conference Board said its leading economic index fell by 0.3 percent in June after coming in unchanged in May.

phila-fed-071819.jpg After reporting nearly stagnant Philadelphia-area manufacturing activity in the previous month, the Federal Reserve Bank of Philadelphia released a report on Thursday showing its reading on regional manufacturing activity jumped much more than expected in the month of July.

jobless-claims1-071819.jpg A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits increased in line with economist estimates in the week ended July 13th. The report said initial jobless claims inched up to 216,000, an increase of 8,000 from the previous week's revised level of 208,000.

indonesia-jun20_18jul19.jpg Indonesia's central bank cut its key interest rate for the first time in nearly two years and signaled more easing in future, joining its peers who have reduced rates ahead of a possible rate cut from the US Federal Reserve. The Board of Governors, led by Governor Perry Warjiyo, decided to reduce the 7-day reverse repo rate by 25 basis points to 5.75 percent, Bank Indonesia said.

ukretailsales-july18.jpg UK retail sales recovered unexpectedly in June suggesting that wage growth boosted household spending at the end of the second quarter, data from the Office for National Statistics revealed Thursday. After falling for two straight months, retail sales volume increased 1 percent month-on-month in June, largely driven by non-food product sales. Sales were forecast to fall 0.3 percent after easing

bankofkorea-july18.jpg The Bank of Korea lowered its key interest rate for the first time since 2016, citing ongoing weakness in exports amid trade disputes. The Monetary Policy Board decided to cut the base rate unexpectedly by 25 basis points to 1.50 percent, the bank said in a statement on Thursday. The bank had earlier lifted its rate by a quarter-point in November 2018.

preview-july18.jpg Retail sales data from the UK is due on Thursday, headlining a light day for the European economic news. At 12.30 am ET, the Dutch jobless data for June is due. The unemployment rate stood at 3.3 percent in May.

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