Activity in the U.K. service sector shrank unexpectedly for the first time in two years last month, adding to concerns that the economy will not start gaining momentum in the nearest future.
The pace of hiring in the world's largest economy eased slightly last month, while unemployment rate held steady at previous month's level, the Labor Department figures showed on Friday.
The Europe's largest economy is planning further spending cuts in order to achieve its target of a structurally balanced budget in 2014.
Services sector of the British economy tumbled for the first time in a two-year period in December, when the Markit/CIPS services Purchasing Managers' Index fell from 50.2 in November to 48.9 in December, its lowest level since April 2009. The PMI data also showed the UK's economic output recorded a 0.2% slowdown in the Q4 suggesting the broader economy could
Japanese government claimed its readiness to take the unprecedented step and buy nation's factories and machinery directly with taxpayer funds. Shinzo Abe and his cabinet will spend around 1 trillion Yen in order to buy plant in the electronics, equipment, and carbon fibre industries.
The momentum of the Swiss economy slowed for the third consecutive month in December, adding to concerns that deepening Eurozone crisis weighed on business confidence.
Activity in the U.K. construction sector shrank by most in six months in December, driven mainly by a steep reduction in housing activity.
New applications for the unemployment benefits in the world's biggest economy jumped to a five-week high during the last week, reflecting the usual volatility, which is seen during the holiday season, because of temporary hiring and the closure of government offices.
The number of unemployed people in the Europe's largest economy rose less than expected last month, while the overall jobless rate remained unchanged, a sign that deepening region's debt crisis curbed company investment and economic growth.
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
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
The Japanese government is widely expected to raise its growth forecast for the world's third largest economy on hopes that Abe's bold actions will help to boost economic growth in the country.
The amount of cash Swiss commercial banks held with nation's central bank fell more than expected in the week to December 28, a sign that investors are getting more anxious over Eurozone's financial woes.
Activity in Britain's factories rose for the first time since March, indicating some strength in the economy at the end of 2012.
Manufacturing sector in the world's largest economy expanded slightly in December, adding to signs that the industry is stabilizing after reaching a three-year low a month earlier.
The slowdown in Eurozone factory activity deepened last month, a sign that region's economy may have slipped further into recession in the last quarter of 2012.
The overall unemployment rate in Japan edged down in November, however, the availability of jobs was unchanged, a sign that employers are still cautious on hiring amid severe economic conditions.
The Swiss stock market ended Friday's session in negative territory amid growing concerns that the U.S. lawmakers will fail to reach a budget agreement by the end of this year.
Britons were not so active in making shopping trips for post-holiday bargains on the day after Christmas, as more people were looking for the discounts online.
Pending home sales in the world's largest economy rose for a third consecutive month in November, a sign nation's property market is on the path to recovery.
The French economy expanded less than initially was expected, adding to concerns that the recovery may be too weak to help President Francois Hollande's government reduce unemployment, which is currently at a 15-year high, and improve the overall economic situation.
On Wednesday, December 26, Shinzo Abe was sworn in as Japan's seventh Prime Minister during the last seven years.
The UBS Swiss consumption indicator fell last month, implying weak domestic demand, the Swiss bank's economists said on Thursday.
The number of mortgages approved in the U.K. soared to the highest level since January last month, a sign nation's property market is stabilising.