A composite indicator providing a reading on the direction of GDP growth for the Swiss economy compared with the year-earlier quarter declined for the third successive month in December as a sign of bleak prospects of the economy, recording a 0.22 point fall to 1.28. "Construction" modules fell slightly, while the "Banking" module stayed in positive territory. "In comparison to previous months the cooling
Unemployment rate of Spain declined for the first time in a five-month period in December amid increase of holiday season's head counts of service employers, bringing a hope that the country's economy might recover at the end of 2013, the Labor Ministry report showed on Thursday. The unemployment rate dropped 1.2% from the month before to 4.85 million in December,
Manufacturing activity of the U.S. economy accelerated more than projected in December following a month of contraction, the Institute for Supply Management reported on Wednesday. The report showed the ISM purchasing managers index rose from 49.5 in November to 50.7 in the last month of 2012, signing a recovery with a figure above 50. Economists had forecast the index jump to a
Construction spending in the world's largest economy surprisingly declined in November due to modest drops of private and public construction spending, the Commerce Department reported on Wednesday. The report showed an 0.3% decrease of construction spending, from October's $866.2 billion to $868.0 billion in November, while economists forecast rise of 0.6%.
Construction output of the U.K. economy tumbled at the fastest pace in a six-month period in the month of December as residential building decrease to its lowest level since the end of 2010, the Markit survey showed on Thursday. The Markit/CIPS Construction Purchasing Managers Index dropped to 48.7 in December from 49.3 in the month before, compared to a forecast
Asian stocks loomed, forcing a regional equities index reach a 17-month high level, as an expansion of China's services industries and U.S. manufacturing triggered optimism concerning the recovery of global economy. The MSCI Asia Pacific Excluding Japan Index climbed 0.4% to 478.15, while Hong Kong's Hang Seng Index added 0.4% and the Hang Seng China Enterprises Index rose 0.8%.
European stocks advanced, surpassing a 22-month high, after Swiss shares surged consequent to a U.S. budget deal which stopped tax increases and automatic spending cuts from coming into practice. U.S. index futures dropped, while Asian shares apart from Japan increased. The Stoxx Europe 600 Index rose 0.4% to 286.32, while the Swiss Market Index spiked 2.2%.
Colombia's peso reached the highest level since July 2011 as U.S. policymakers launched a bill avoiding tax increases that put the economic recovery under a threat. The currency advanced 0.2% to 1,763.50 per greenback, before touching 1,750.50, the most since July 2011. It is said that the Peso surged 9.7% in 2012, the strongest level after the Hungarian forint and
Taiwan's Dollar climbed to an eight-week high after growth in U.S. factory production added to optimism that the global economic improvement is gaining traction, increasing the outlook for Taiwan's exports. The Taiwan Dollar added 0.4% to NT$28.988 versus the greenback, after touching NT$28.978, the most since November 12.
U.S. equities surged after lawmakers passed a budget bill averting automatic spending cuts and tax increases. The S&P index rallied 2.5% to 1,462.42, the biggest gain in one year. All 10 groups in the benchmark index edged at least 1.8% higher. The S&P jumped 1.7% on December 31, showing the biggest gain in the last day of year since
The Aussie bounced back from almost the highest level in two weeks after concern U.S. policymakers would have problems to agree on increasing the U.S. debt ceiling surpass the bill they launched to avoid the ‘fiscal cliff'. The Australian Dollar dropped against vast majority of its 16 main peers; it touched $1.0524, while the kiwi stood at 83.97 U.S. cents,
China's service sector continued to expand in December, fuelling optimism of a recovery in the world's second biggest economy. The PMI of service sector rose 0.5 percentage points to 56.1% in December, according to data by the China Federation of Logistics and Purchasing. The reading marked an advance of three straight months. A PMI figure above 50% indicates an expansion,
The U.K.'s house prices fell modestly by 0.1% on a monthly basis in December after staying unchanged a month earlier, data by Nationwide Building Society showed today. That did not match economists' expectations of no change in house prices. A typical home is currently worth GBP 162,262. The house price index fell 1% annually during December following a 1.2% decline
Germany's jobless rate stayed unchanged in November, according to the Federal Statistical Office on Thursday. The adjusted unemployment rate was at 5.4% on a monthly basis, compared to 5.6% in November 2011. The number of unemployed fell from 2.3 million in October to 2.28 million. On a yearly basis, jobless rate decreased by 4.2%.
Brazil's currency advanced amid speculation lawmakers would allow the Real to strengthen after U.S. lawmakers introduced a bill to prevent scheduled tax increases. The Real soared along with majority of the U.S. Dollar's 16 major peers and climbed 0.3% to 2.0457 per greenback.
Asian shares advanced, pushing the regional benchmark index to the highest in 17 months, as U.S. manufacturing expanded and China's services sector sparked optimism in the world economic recovery. The MSCI Asia Pacific Index outside Japan climbed as much as 0.4% to 477.92. Hong Kong's Hang Seng Index added 0.3%, while Australia's S&P/ASX 200 jumped 0.7% to the highest level
The loonie advanced to a tree-month high versus the greenback as the U.S. House launching a deficit-reduction plan to avert automatic tax increase and prevent the threat of the U.S. economy's recession. The Canadian Dollar strengthened versus the majority of its main counterparts after the approvement of budget deal by the U.S. House and climbed 0.9% to 98.49 cents per greenback.
China's non-manufacturing sector continued to improve in December, adding to signs of a rebound in the world's second largest economy, an official survey showed Thursday.
The new 113th U.S. Congress, which convenes on Thursday, is set to take a fresh crack at a number of old, and highly contentious, issues, such as gun control, immigration, the record debt, tax reform and the farm bill.
President Anibal Cavaco Silva called for urgent action to halt the "recessionary spiral", warning Europe's leaders that the current course had become "socially unsustainable".
The Yen and greenback soared against the shared currency after investors were interested whether U.S. lawmakers could reach an agreement about the nation's debt limit increase. The Japanese currency rose 0.3% to 114.81 per Euro and it remained steady at 87.32 per greenback, while the U.S. Dollar loomed 0.3% to $1.3148 per shared currency.
Oil tumbled amid speculation that its increase to a three-month high level might have been excessive. WTI for February settlement fell to $92.49 a barrel, down 63 cents, and futures soared 1.4% to $93.12 a barrel, the most since September 18, while Brent oil for February delivery dropped 65 cents, or 0.6%, to $111.82 a barrel and New York crude
Farm commodities were mixed on Wednesday, with softs ending higher and grains sliding. Improved risk appetite after the US lawmakers agreed on fiscal reform supported rural commodities. However, signs of weak demand for US exports, firm US Dollar and upcoming index funds' rebalancing continued to create pressure on grains.Wheat tanked to a six-month low on preparation for index funds sales
U.S. blue chips rallied on Wednesday, as a budget deal was reached to halt the so-called "fiscal cliff" effect with automatic tax increases and spending cuts that would push the world's biggest economy into recession. The Dow Jones Industrial Average added 2.4% to 13,412.55 with all 30 stocks in the index edging higher. Investors' confidence was also boosted up by