"Policymakers and politicians will nevertheless seek solace in the fact that the rate of decline has now eased for two consecutive months, and that Germany is stabilizing" -Chris Williamson, chief economist at Markit The 17-nation economy remains weak and is still struggling to grow, with business activity, services PMI and retail sales edging down. Markit Economics said on Wednesday that
"There are still going to be challenges for exporters in Canada in coming months " - National Bank Financial senior economist Krishen Rangasamy Canada's merchandise trade deficit widened in April, as imports hit a record high and exports turned down, a further sign that exporters' woes are weighing on economic growth, Statistics Canada data showed on Tuesday. In April, Canada
"The Reserve Bank has kept the easing bias firmly in place" -Craig James, a senior economist at a unit of Commonwealth Bank of Australia During its monthly policy meeting, the Reserve Bank of Australia led by the Governor Glenn Stevens and his board decided to keep the overnight cash-rate target at 2.75%, as the central bank assesses the effect on
"Construction output appears to have finally pulled out of a tailspin in May"-Tim Moore, senior economist at Markit Britain's key construction sector returned to growth last month led by a surge in homebuilding, suggesting construction sector might add to overall U.K. economic growth in the second quarter. A gauge of activity jumped to 50.8 from 49.4 in April, beating analysts'
"The details of this report offer an encouraging take on both U.S. and global economic activity at the start of the Quarter"-Millan Mulraine, an economist at TD Securities USA LLC The U.S. trade deficit widened in April, from a more than three year low, reflecting an improvement in imports of consumer goods and business equipment, easing concerns about the degree
"We're engaged in a race against time, and in too many countries, too many people without a job - in particular young people - remind us that the battle is not yet won, and further efforts are needed" -EU President Herman Van RompuyThe number of unemployed people in Spain fell more than initially expected as employers ramped up hiring in
"Evidently, the situation for industry has stabilised, although it is too soon to talk about a sustainable recovery " - Swiss SVME purchasing managers' association and Credit Suisse Switzerland's key manufacturing output index surged more than expected in May and further improvement is expected, as domestic demand rebounded. The Swiss Purchasing Managers Index rose to 52.2 points last month, up
"Anecdotal reports suggest retail sales rose in April, although we expect growth to continue moderating " -Westpac Banking Corp. (WBC) economists led by Bill Evans Australian retail sales rose less than economists predicted last month, as weaker spending at department stores offset increased outlays on footwear and clothing. According to the Bureau of Statistics in Sydney, the nation's retail sales
"The government is making the shift towards growth-enhancing spending unnecessarily difficult by protecting large areas of spending"-Terry Scuoler, chief executive of the EEF, a manufacturing group Britain's factory index rocketed to a 14-month high last month, boosted by the increase in new orders, adding to signs the economic recovery is gaining strength. A gauge of manufacturing activity jumped to 51.3
"Manufacturing is really stymied by slow corporate spending and government spending cutbacks "-Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC Manufacturing activity in the U.S. unexpectedly contracted last month at the fastest pace in four years, indicating that a decline in business and government spending is weighing on the top global economy. The factory index of the Institute
"The drivers of such a gradual recovery are the highly accommodative monetary policy and export growth, caused by growing foreign demand" -ECB President Mario Draghi The 17-nation economy is expected to start gaining pace later this year, even despite challenging outlook, the ECB President Mario Draghi said on Monday. During the last month's policy meeting the ECB has cut its
"The Swiss economy should consequently gather some momentum" - KOF Economic Research AgencySwiss KOF leading economic indicator improved for a second straight month in May, adding to signs that the economy will continue gaining momentum even despite deepening Eurozone recession. The index, compound by the KOF Economic Research Agency, rose 0.06 points to 1.10 this month, up from an upwardly
"The Bank of Canada should take some comfort in allowing domestic demand to take a much needed breather" -David Tulk, chief macro strategist at Toronto-Dominion Bank's TD Securities An increase in oil exports to the U.S. has boosted Canada's economy in the first quarter of this year, even as domestic demand expanded at the slowest pace since the 2009 recession.
"The problem getting credit to SMEs seems to be pretty intractable, and it be may be more of a demand-side issue than a supply-side one " -Brian Hilliard, of Societe Generale Lending to the U.K. businesses fell sharply last month, dropping by the biggest margin so far this year, even despite a surge in mortgage approvals. On Friday, the Bank
"We are seeing a slowing. It's still a decent start to the quarter after a very strong first quarter"-Sal Guatieri, a senior economist at BMO Capital Markets Consumers spending in the world's largest economy unexpectedly dropped last month, as personal income stagnated, putting the biggest part of the economy on shaky ground at the beginning of a year. On Friday,
"We're engaged in a race against time, and in too many countries, too many people without a job -- in particular young people -- remind us that the battle is not yet won, and further efforts are needed " -EU President Herman Van Rompuy The number of unemployed people in the 17-nation economy soared to a fresh high in April,
Swiss economy expanded at a faster pace than it was initially expected
Japan's industrial production expanded more than expected in April
Housing market in the U.K. is continuing to gain pace, as home prices soared most in 18 months
A drop in government spending and tax hikes dragged more on the world's largest economy than initially thought in the first quarter of 2013, a sign of increasing pain from Washington's austerity measures.
European Union authorities decided to soften its demands for austerity measures, providing six members with more time to curb budget deficit back to the target level.
Australian construction sector took another hit in the quarter of 2013, even with borrowing costs close to record lows.
During his monthly policy meeting as a Governor of the Bank of Canada Mark Carney kept the main interest rate unchanged and noticed that tighter policy may be needed soon as the economic expansion progresses.
Sales at Britain's retailers dropped the most in 16 months, due to weak demand for food and drink, according to an index compiled by the Confederation of British Industry.