German industrial production shrank surprisingly in February, according to official statistics of Destatis. These data are a signal to weaken the good upward momentum of Europe’s leading economy in the new year. The German industrial production declined by 1.6% in February compared to the previous month, when it recorded an anemic growth of 0.1% and
The Turkish economy overheats and this could be just as much a problem for President Recep Tayyip Erdoгan as for the country’s creditors. The Turkish president needs guarantees that there will be no economic difficulties threatening his chances in the next election. The TRY is bending under the weight of the growing current account deficit
The ruling Hungarian conservative party Fidesz won convincingly the parliamentary elections, giving Viktor Orban a third consecutive term in office. According to official estimates, based on 93% of the votes, Fidesz and its junior coalition partner, the Christian Democratic People’s Party, will have 133 seats out of a total of 199 in the new parliament.
Russia fails to reach the standard of living of developed countries. Given on the country’s gross domestic product (GDP) by purchasing power parity (PPP) per capita, Russia is in a group with Equatorial Guinea, Bulgaria and Romania. And if for some such a group is a success, then for Russia this is rather a failure.
The fear of trade wars, triggered by US ideas on import duties for Chinese goods, is already affecting the development of the economy. The fears affect borrowing costs and stock prices, Benoit Coeure, a member of the European Central Bank (ECB). “None of this supports economic growth or employment”, said he. “The effect of anticipated
The snowstorm that hit Britain at the end of February and the beginning of March contributed to the fastest decline in construction activity on a monthly basis since the Brexit referendum in June 2016. Unusually bad weather led to a decline in the PMI in construction from 51.4 points in February to 47.0 in March,
China filed a complaint to the World Trade Organization (WTO) against US President Donald Trump’s decision to impose import duties on steel and aluminum. The Asian country has requested a 60-day consultation with the United States to resolve the dispute. If the two sides do not find a solution, the next step is for Beijing
Iran decided to impose a fixed exchange rate on its currency to the dollar and has banned unregulated trade after it reached a record low level. In addition, the Iranian central bank has introduced a limit of 10,000 EUR for funds owned by citizens outside banks. The citizens a few days (by the end of
German exports lost speed in February, according to the latest official data. The German exports value grew by 2.4% in February compared to the same month last year, reaching a total of 104.7 billion EUR (129 billion USD). In January, exports rose by 8.6% on an annual basis. Reported on a monthly basis in February,
The exchange rate of the Russian ruble suffered biggest daily drop for over three years, while the shares of leading local companies collapsed, as investors reacted to the new sanctions imposed by the United States against some of Russian tycoons. The sanctions were announced on Friday (April 6) and are targeted at officials and businessmen
The US President Donald Trump has voiced confidence that China will remove its trade barriers and an agreement between the two countries will be reached to avoid trade war. “President Xi and I will always be friends, no matter what happens with our dispute on trade. China will take down its Trade Barriers because it
The average hourly labor costs in the EU economy were 26.80 EUR in 2017, varying widely from 4.90 EUR in Bulgaria to 42.5 EUR in Denmark. The value includes agriculture and public administration, calculating all the costs for wages but also social charges paid by the employer. For the Eurozone the the labor costs in
New jobs in the US recorded the largest decline in March from the last six months. The US employers have created 103,000 jobs amid job cuts in construction and retail, informs the US Department of Labor. This is the lowest level since September and follows the increase in jobs by 326,000 in February. The jobs
The unemployment in the European Union (EU) dropped slightly in February on a monthly basis to a level of 7.1%. On an annual basis, there was a more pronounced decrease compared to 8.0% in February 2017, a difference of 0.9 percentage points. This is the lowest unemployment rate since September 2008. The unemployed in the
The unemployment in Bulgaria continues to decline in February on a monthly basis, reaching a level of 5.3%. This is the lowest unemployment rate since November 2008, according to Eurostat’s current seasonally adjusted data released on Wednesday. On an annual basis, there was an even more serious decline, with the rate of 6.2% in February
More than 3 million young people in the European Union have been in a college or university, but have stopped education at some point, according to Eurostat data for 2016. At the same time, more than 30 million young people graduated. The reasons for interruption of education are different. Nearly 25% prefer to work instead