Germany teetering on edge of recession that risks dragging rest of Europe down with it January 30, 2023 Germany is teetering on the edge of a recession after fresh figures out today revealed its economy unexpectedly contracted in the final months of last year. German output dropped 0.2 per cent over the last quarter, below the flatline consensus forecast by investors. The shock GDP undershoot raises the risk that the wider eurozone economy [...]
Will the global economy avoid a recession? Some people think so January 24, 2023 The global economy will narrowly avoid a recession this year due to China dismantling its zero Covid policy, forecasters have predicted today. A boost from the world’s second biggest economy re-entering the global community is set to power world GDP 1.9 per cent this year, according to S&P Global Market Intelligence. Beijing’s surprise scrapping of [...]
UK economy stumbles behind Euro peers as risk of recession gathers pace January 24, 2023 The UK economy is falling further behind its international rivals and experts, according to a closely watched survey. The survey by economists has revealed Britain’s services industry, which generates about £2 in every £3 in the country, is shrinking at the fastest pace in two years. S&P Global and the Chartered Institute of Procurement and [...]
European inflation falls quicker than expected but recession fears will weigh on likely ECB rate hikes January 6, 2023 Inflation in Europe is falling faster than expected, but there are signs the worldwide price surge that is set to bring on a global recession may not be finished just yet, official figures out today reveal. A flash estimate by stats agency Eurostat for the rate of price increases in the eurozone came in at [...]
European jobs market defies expectations as unemployment hits record low December 1, 2022 The European jobs market is defying expectations and holding up well despite experts expecting the bloc to tip into a tough recession, fresh figures out today show. The proportion of people unemployed in the 19 countries using the euro dropped to a record low 6.5 per cent in October from 6.6 per cent in September, [...]
Eurozone inflation drops for first time since mid 2021 and may have ‘passed its peak’ November 30, 2022 Inflation in Europe fell for the first time since mid 2021 and may have passed its peak, fresh figures out today reveal. Prices across the 19 countries using the euro climbed 10 per cent over the year to November, down from a rate of 10.6 per cent in October, according to Eurostat. The drop was [...]
Euro on course to stay below US dollar parity for some time, Goldman warns November 6, 2022 The euro is on course to stay below parity with the US dollar for some time if gas prices do not fall markedly, a top Wall Street bank has said. The currency used by the 19 countries that make up the eurozone is set to drop to $0.94, according to Goldman Sachs. The euro last [...]
Eurozone inflation breaches forecasts to hit record 10.7 per cent October 31, 2022 Eurozone inflation has surged past expectations to 10.7 per cent this month in a further sign the European Central Bank (ECB) will have to keep heaping misery on businesses and households to tame prices. Prices continued to climb rapidly in all the bloc’s major economies, signalling the effects of the ECB’s pivot from years of [...]
Fed pivot hopes fade after US economy returns to strong growth October 27, 2022 The US economy has surprisingly shaken off a series of steep rate rises, indicating the Federal Reserve’s campaign to tame historic high inflation is not over yet, new figures out today reveal. Gross domestic product (GDP) across the pond climbed 2.6 per cent last quarter, swinging from a 0.6 per cent contraction in the three [...]
ECB fires second successive jumbo rate hike in push to end Europe’s cheap money addiction October 27, 2022 The European Central Bank (ECB) today fired its second jumbo rate hike in a row in another sign that it is putting years of ultra-cheap money to the sword. The central bank that oversees the financial system of the 19 countries using the euro lifted borrowing costs 75 basis points to 1.5 per cent as [...]