The Bank of England halted against pumping more money into the economy, hoping that bank's new lending scheme will bolster economy recovery. The bank already injected £375bn into the U.K. financial system, however, the outlook for the economy remains uncertain, even despite the fact nation's gross domestic product grew 1% in the third quarter. At the same time, the BoE
The number of people who applied for U.S. jobless benefits fell more than expected in the week ended November 3, however, the data was distorted by Hurricane Sandy, the U.S. Department of Labor said Thursday. Initial applications for unemployment benefits tumbled 8,000 to 355,000. The four-week moving average edged higher 3,250 to 370,500.
The European Central Bank left interest rates unchanged on Thursday, as economic performance in the eurozone is expected to remain weak and Spain resists asking for a full bailout. The benchmark interest rate held at its historic low of 0.75 per cent, meeting analysts' expectations. In September, the ECB pledged its readiness to purchase unlimited quantity of government bonds, easing
Japanese second largest manufacturer, Nissan, cut its profit forecast for this fiscal year, as sales in China tumbled 35% in September, amid anti-Japan sentiment. Company's first-half profit slipped 2.8% to 178.3 billion, while its full-year forecast was slashed by 20%. Japanese carmaker tips net profit for the year to March of only 320 billion yen, down from a previous estimate
Consumer prices in Switzerland rose less than initially expected last month, due to weak domestic demand and economic uncertainties. Nation's inflation rate added only 0.1% in October following a 0.3% rise in the previous month, while on a yearly basis they lost 0.2%. While consumer prices shrank for the 13th straight month, prices of domestic goods increased 0.1% from a
The U.K. economy is expected to remain in a period of depression till 2014, as subdued spending and trade will slow down the economic recovery, the European Commission said Wednesday. Economy is likely to expand only 0.9 per cent in 2013, after a 0.3% drop in this year, compared to a previous estimate of 0.5 per cent in 2012 and
President Barrack Obama was re-elected for the second term with 274 electoral college votes, four more than needed. However, the new president of the world's biggest economy has to avoid the so-called "fiscal cliff", a series of tax and budget changes that are likely to hit the U.S. economy in January. Moreover, Obama is the first president, who was re-elected,
Eurozone economy is likely to almost grind to a halt in 2013, as all countries, including export-driven Germany, are hit by the region's deepening debt crisis. The European Commission downgraded its outlook for the 27-country bloc, saying the economy will grow by 0.1% in 2013, down from May's forecast of 1%. At the same time, the outlook for Europe's biggest
Japanese leading index, which predicts the future direction of the economy, fell more than initially expected in September, a sign the world's third largest economy is decelerating. According to the Cabinet Office, nation's index of leading economic indicators tumbled to 91.7 in September, down from 93.2 in the previous month. The reading came below analysts' expectations of a fall to
Confidence among Swiss households remained unchanged in the third quarter of 2012, the State Secretariat for Economic Affairs (SECO) reported Tuesday. The Swiss SECO Consumer Climate, which represents a majority of overall economic activity, stood at -17 in the third quarter, beating analysts' expectations of a decline to -21 points. However, the reading remains below a 0 line, which separates
U.K. manufacturing sector gained less than expected in September, as machinery and chemical production declined, a sign economic recovery is losing momentum, the U.K. Office for National Statistics reported Tuesday. Manufacturing production in the U.K. expanded 0.1%, below the 0.4% which had been highly estimated by analysts. At the same time, total industrial output plunged 1.7%, hit by a record
U.S. stocks were trading in the positive territory for a second consecutive day on Tuesday, as Americans headed to polls to elect the next president of the world's biggest economy, while deepening concerns over Greece's future in the Eurozone had little effect.
Eurostat reported on Tuesday that producer price inflation in the eurozone held still in September, as the cost of energy fell. The producer price index came in line with analysts' expectations, adding 2.7% in September compared to the reading in the previous month. On a monthly basis, PPI added 0.2%, down from 0.9% in the prior month. The largest increase
Japanese largest manufacturer, Toyota Motor Corp. lifted its profit forecast for this fiscal year, as earnings soared to a four-year high of 143.7 billion yen ($1.8 billion) in the third quarter, boosted by sales in North America and Southeast Asia. Despite a dramatic decline in sales in China, amid anti-Japanese sentiment, the company raised its net profit projection by 2.6%
The amount of cash Swiss commercial banks hold with nation's central bank fell slightly in the week to November 2, a sign investors are getting more anxious over Eurozone's financial woes. Sight deposits of domestic banks tumbled to 290.679 billion francs last week, down from 293.309 billion a week earlier. As a large part of the liquidity in the banking
Activity in the U.K. service sector grew at its slowest pace since December 2010, diminishing hopes the economy is recovering. Markit/CIPS Services Purchasing Managers Index dropped to 50.6 in October, down from a reading of 52.2 in the previous month. As both manufacturing and service sectors decelerated in October, a sign nation's economy may shrink in the last quarter of
The U.S. non-manufacturing sector kept growing in October, however, at a slower pace, due to a weaker domestic demand. The Institute for Supply Management said its leading indicator of economic health eased to 54.2 last month, down from 55.1 in September. At the same time, the reading remains above the 50 line that separates growth from tension. At the same
The number of unemployed people in Spain rose for a third month in a row in October amid deepening recession in the country. According to the Spain's Labor Ministry, 4.8 million Spaniards are now out of work, as the number of unemployed people jumped by a seasonally adjusted 128,200 in October, beating analysts' expectations for an increase of 90,500. At
Japanese monetary base rose more than expected last month, a sign actions made by the Bank of Japan increased the amount of currency in circulation.
Swiss stocks closed higher on Friday, amid better-than-expected U.S. job data, despite disappointing manufacturing data from the eurozone.
Output in the U.K. construction sector rose unexpectedly last month, but new work fell for the fifth month in a row, the Markit/CIPS said Friday.
The world's biggest economy added 171,000 jobs in October, however, overall unemployment rate rose last month.
Eurozone's manufacturing sector contracted for the 15th consecutive month in October, adding to worries that region's economy may continue deterioration in the last quarter of this year.
Manufacturing activity in the U.K. shrank for the sixth month in a row in October, as the number of new orders fell, while costs rose at a faster pace.