Global Economic News


new-home-sales-052319.jpg After reporting an unexpected jump in new home sales in the U.S. in the previous month, the Commerce Department released a report on Thursday showing new home sales pulled back by much more than anticipated in the month of April.

ecb-102418_23may19.jpg European Central Bank policymakers acknowledged that they were less confident regarding a return of solid growth in the euro area in the second half of the year, minutes of the April 9-10 policy session showed on Thursday. Policymakers acknowledged that some recent data had turned out even weaker than expected, the minutes said.

germanyflag-aug27_23may19.jpg German business confidence eroded to the lowest level in over four years in May amid rising concerns over global trade tensions, thus shrugging off the positive impact of the modest economic growth in the first quarter, and damping hopes of a recovery in the biggest euro area economy in the near term.

jobless-claims-052319.jpg First-time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended May 18th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims dipped to 211,000.

eurozonepmi-may23.jpg Eurozone private sector growth remained subdued in May as manufacturing contracted further, survey data from IHS Markit showed Thursday. The composite output index rose marginally to 51.6 in May from 51.5 in April. The score was forecast to rise to 51.7. A reading above 50 indicates expansion.

preview-may23.jpg Revised quarterly national accounts, flash purchasing managers' survey results and Ifo business confidence are due from Germany, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's GDP data. GDP is forecast to grow 0.4 percent sequentially in the first quarter, the same pace as initially estimated.

The manufacturing sector in Japan fell into contraction in May, the latest survey from Nikkei revealed on Thursday in its preliminary report - posting a manufacturing PMI score of 49.6. That's down from 50.2 in April and it falls beneath the boom-or-bust line if 50 that separates expansion from contraction. Individually,...

Japan will on Thursday see preliminary May numbers for the manufacturing PMI from Nikkei, highlighting a light day for Asia-Pacific economic activity. The April reading saw a score of 50.2, barely above the boom-or-bust line of 50 that separates expansion from contraction. Singapore will release...

eccles-building-110818_22may19.jpg Members of the Federal Reserve are in no rush to alter the path of interest rates, according to the minutes of the central bank's latest monetary policy meeting. The minutes showed members agreed that a patient approach to determining future adjustments to rates would likely remain appropriate for "some time."

iceland-central-bank-110718_22may19.jpg Iceland's central bank slashed its key interest rate and the economic growth forecast for this year on Wednesday, citing weaker tourism business and a fall in marine product exports. The Monetary Policy Committee, or MPC, decided to lower the rate on seven-day term deposits by 0.5 percentage points to 4 percent, the Central Bank of Iceland or Sedlabanki said.

ukinflation-may22.jpg UK consumer price inflation exceeded the central bank's target in April for the first time since December, driven by higher utility costs and air fares. Meanwhile, core inflation held steady for a second month in a row, further damping hopes of an interest rate hike this year.

preview-may22.jpg Consumer and producer prices and public sector finance reports from the UK are due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, European Central Bank President Mario Draghi is set to speak at an event organized by the ECB in Frankfurt, Germany.

bankofjapan-may22.jpg Bank of Japan board member Yutaka Harada said monetary easing should be strengthened further without delay. "If the economy deteriorates to the extent that achieving the 2 percent price stability target in the long term becomes difficult, I view it as necessary to strengthen monetary easing without delay," he told business leaders in Nagasaki.

The total volume of retail sales in New Zealand was up a seasonally adjusted 0.7 percent on quarter in the first three months of 2019, Statistics New Zealand said on Wednesday - exceeding forecasts for a rise of 0.6 percent following the 1.7 percent jump in the three months prior. The total value...

Japan posted a merchandise trade surplus of 60.402 billion yen in April, the Ministry of Finance said on Wednesday - down 90.3 percent on year. That was well shy of expectations for a surplus of 229.5 billion yen and down from 528.5 billion yen in March. Exports sank 2.4 percent on year to 6.658...

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