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,
The Eurozone inflation rate is expected to accelerate sharply in March after several months of slowdown, reaching 1.4%, compared with 1.1% in the previous month. This is the preliminary estimates of the European Statistical Office Eurostat. The Euro rose slightly to 1.2293 USD shortly after publication of the data. Unlike the trend in recent months,
The Chinese services sector slows down its growth rate in March. The PMI, which is prepared by the private analysts Caixin and Markit, fell from 54.2 points in February to 52.3 points in March. This is the lowest level since November. Any value above 50 points signals for expansion, and every 50 signals for contraction
The Australian Central Bank kept the key interest rate unchanged at a record low level. Thus the financial regulator recorded the longest unchanged period – almost three decades. This period of inactivity seems to continue for more. As originally expected, the Reserve Bank of Australia ended its April meeting with a decision to keep the
The US production activity slowed down in March with a decline in new orders, but growth in the manufacturing sector remains backed by a strong domestic and global economy. The data show a slight increase in construction costs in February. The figures support economists’ view that economic growth slowed in the first quarter due to