Industrial production in Greece declined 7.2% in August of 2013 on the annual basis, while in July the output posted a contraction of 7.7%. On the monthly basis, the index dropped 11% after a 0.2% rise in July. According to the data, all majors industrial sectors registered a decline. Moreover, quarrying and mining sector plunged 16.4% from the previous year,
U.S. House Republicans offered Democrats and President Barack Obama a deal, where they suggest a short-term six-week debt ceiling increase to finance budget expenditures. According to the plan, this time will be used for negotiations between two parties on country's budget with perspectives to raise the debt limit for a longer period of time. The current limit will be reached
According to the new data, core machinery orders in Japan added as much as 5.4% in August of this year, while economists forecasted a modest growth of 2.7%, twice less than the real result. It is worth pointing out that orders jumped for the first time in three months, as they decreased slightly by 0.03% in July. Economists say that
The Bank of England has kept its monetary policy unchanged after the meeting on Thursday. The regulator will continue to buy 375 billion pounds of assets, while the official rate was kept at 0.5%. BoE officials say that there will be no monetary policy changes until the unemployment rate declines to 7%. Recently, the IMF has upgraded growth outlook for
Unemployment rate in Australia surprisingly dropped in September of 2013, while the total number of people in work increased for the first time in three months. Jobless rate reached 5.6% against 5.8% a month earlier, while employment added 9,100. Economists say that a decrease of the official Central bank rate was a right decision, which has already started bringing first
Manufacturing production in France jumped 0.2% in August of this year, while during the two previous months the production decreased. Meanwhile, economists expected the output to add 0.6%. Analysts say that the rebound in manufacturing sector of the country was caused by a rise in automotive industry, which recovered in August after a significant drop of 19.5% in July.
U.K. shares advanced, with the regional benchmark FTSE 100 Index bouncing off from the lowest level in three months, on signs that U.S. officials could find a compromise in the nearest time. The FTSE 100 gained 1% to 6,398.26 as of 12:56 p.m. London time, snapping its three day streak of losses. The FTSE All-Share rose 1% as well, while
The Aussie depreciated as employers created fewer jobs than it was expected by economists previous month, leading to lower than forecasted unemployment rate. Australia's currency dropped 0.4% to 94.10 U.S. cents as of 5:01 p.m. Sydney time, while the Kiwi retreated 0.7% to 82.48 U.S. cents.
House prices in the 17-nation bloc advanced in the three months ended in June recovering from a steep drop recorded in the first three months of this year, a report released by the European statistical agency Eurostat unveiled on Thursday. Eurozone's house prices moved up by 0.3% in the Q2 after the figure recorded 1.4% fall in the Q1.
The British currency was little changed against the greenback after nation's central bank left its interest rate unchanged at 0.5% and kept its stimulus programme at 375 billion Pounds. The Sterling was at $1.5949 as of 12:03 p.m. in London after declining to $1.5914 , the weakest level since September 18, while the currency traded at 84.84 pence per Euro.
Consumer confidence in Asia's second largest economy notably improved in the month of September, when the pace of growth exceeded economists' expectations, the Cabinet Office showed in a report on Thursday. According to the report, Japan's consumer confidence index rose from 43 points recorded in August to a level of 45.4 in September.
Industrial production in Italy dropped surprisingly in the month of August, a report released by the statistical office Istat revealed on Thursday. The report showed that the country's industrial output fell 0.3% on a sequential basis in August compared to an increase of 0.6% originally expected following a 1% slip recorded in the previous month.
The U.S. Dollar strengthened against the majority of its most-traded counterparts on Thursday amid signs of progress in the Federal debt ceiling talks between Barack Obama and congressional lawmakers to avoid a technical debt default. The so-called Greenback increased 0.2% versus the Japanese Yen to 97.53 Yen rebounding from the lowest level in 2 months at 96.55.
U.S. Treasuries declined for the third successive day on Thursday amid signs that debates about new debt ceiling in the U.S. may come to an end as Democratic leaders consider a short-term raise in the debt limit in order to avoid technical default. The benchmark 10-year yields dropped 0.02% to 2.69% as of 8:55 a.m. in London after it touched
South African currency declined on Thursday falling for the first time in a three-day period against the U.S. Dollar amid speculation that the pace of growth in manufacturing eased in August from 5.4% to 1.2%, while mining output added 0.8% on the month. The Rand slipped 0.3% to 9.9880 per U.S. Dollar by 10:08 a.m. Johannesburg time.
The British Sterling weakened for the third straight day against the U.S. Dollar before the country's central bank announced its decision to maintain monetary stimulus program and keep the benchmark interest rates unchanged. The so-called Cable dropped 0.1% to $1.5939 as of 9:13 a.m. in London following a fall to $1.5914, the least since September 18.
European shares gained on Thursday rising the most in a three-week period with the regional benchmark index rebounding from the lowest level in a month amid signs that the debate about new debt ceiling in the U.S. may come to an agreement. The Stoxx 600 Index surged 1% to 308.11 as of 9:18 London time after it dropped third day
The European Central Bank and the People's Bank of China decided to establish a bilateral currency swap line helping to boost the international use of the Chinese Yuan and bolster an access to the Eurozone's finance trading. The currency swap line is valid for three years totaling 45 billion euros when the Euro is provided to the PBOC and 350
Asian equities surged on Thursday rising for the third straight day as the local benchmark index is set to reach the longest rally in a month mainly due to an increase of health care companies and as Yen weakened. MCSI Asia Pacific Index advanced 0.2% to 139.25 at 5:15 p.m. Tokyo time following a 0.3% drop recorded earlier on the
Brent crude increased on Thursday trading session amid concerns that the level of oil production in Libya may fall amid political upheaval as the country's prime minister was detained and removed from Tripoli hotel. Brent for settlement in November gained $1.08 to $110.14 a barrel on the London's ICE Futures Europe Exchange and it was at $109.75 as of 9:50
Recession of the United Kingdom's economy is over if the output keeps increasing, however, the period of depression is more likely to continue, a survey revealed by the National Institute of Economic and Social Research showed on Wednesday. Performance of the UK's economy recorded a 0.8% growth in the Q3, while in the three months to August it added 0.9%.
German industrial production advanced at the faster pace than economists originally expected in the month of August after the country's capital goods recorded a notable rise suggesting that the nation's economy is improving, the Economy Ministry reported on Wednesday. The report showed that industrial output added 1.4% in August after falling 1.1% in the month before.
A leading indicator of the Organization for Economic Cooperation and Development area recorded an increase in August suggesting that the majority of countries' economies are improving, a data revealed by the organization showed on Wednesday. According to the data, OECD's leading index advanced from 100.5 in July to a level of 100.6 recorded in the following month.
United Kingdom's shop prices dipped in the month of September falling for the fifth successive month, a report released by the British Retail Consortium revealed on Wednesday. According to the report, shop prices in the UK dropped 0.2% in September after the rate recorded a 0.5% fall in the month before, when September's slide was the smallest since June.