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Economics Gazette

Economy and Business news

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May 23, 2019

German industrial production shrank surprisingly in February 2018

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

Economics

Turkish economy overheats

The Turkish economy overheats and this could be just as much a problem for President Recep Tayyip ErdoŠ³an 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

Trade wars already starts affecting the economy

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

UK construction activity declines in March 2018

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,

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Markets

China filed a complaint against USA to the WTO

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

German exports lost speed in February 2018

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,

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Employment

Average hourly EU labor costs reached 26.80 EUR in 2017

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

The EU unemployment dropped slightly in February

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

Unemployment in Bulgaria continues to decline in February

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

The EU students leave universities to start working

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

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