Global economy growth projection was improved by the World Bank mainly due to a reduction of some fiscal consolidation measures implemented by high-income countries, a report published by the bank showed on Wednesday. According to the report, the world economy is set to grow 3.2% this year compared to previous expectation of a 3% acceleration in the June data.
Wholesale price inflation in India recorded a notable slow-down in December missing an initial economists' forecast expecting a rate of 6.99%, the latest data unveiled by the Ministry of Commerce showed on Wednesday. The country's wholesale prices rose 6.16% on an annual basis in December after recording an increase of 7.52% in the prior month.
U.S. retail sales unexpectedly advanced more than initially estimated on the last month of 2013, however the pace of increase in November was revised downwardly, the Commerce Department showed in a report on Tuesday. The U.S. retail sales grew 0.2% in December, while it was originally seen to be rising 0.1%, down from a 0.4% advanced in November.
U.S. business inventories increased in November rising by more than economists originally projected, a report revealed by the Commerce Department showed on Wednesday. According to the report, business inventories in the world's largest economy advanced 0.4% in November after recording a gain by 0.8% in the previous month.
The Japanese Yen and Australia's currency slipped earlier on Wednesday session after a government report showed that retail sales in the U.S. unexpectedly increase last month pushing the U.S. Dollar from the lowest level in a month. The Yen traded at 104.31 after rising towards the most in a month at 102.85, while the Aussie fell as much as 1%
Wall Street closed higher on Tuesday snapping the previous session of steep declines after a government report showed that retail sales in the world's largest economy rose notably easing concerns that the U.S. recovery lost its momentum. The Dow Jones industrial average added 0.71% to 16,373.86, the Standard & Poor's 500 Index gained 1.08% to 1,838.88 and the Nasdaq Composite
The majority of Asian stocks increased on Wednesday after the World Bank revealed its global economic outlook and as a government report showed that consumer spending in the U.S. improved notably pushing the U.S. Dollar higher. The MSCI Asia-Pacific gauge outside Japan added 0.1%, while the Singapore index gained 0.6% and Taiwan benchmark gauge rose also 0.6%.
Manufacturing production in the Eurozone jumped in November of the last year significantly more than it was expected by analysts, pointing on the stable recovery of the currency bloc's production sector. The total output grew 1.8% on a monthly basis after a positively revised 0.8% decline in October. Moreover, on the annual basis the manufacturing sector advanced as much as
The United States federal budget posted a significant budget surplus in December of the previous year, as tax collections surged on falling joblessness, while mortgage companies Freddie Mac and Fannie Mae made considerable payments to the budget. The surplus totaled $53.2 billion from a $1.19 billion deficit a year ago. Analysts expect the deficit to narrow further in the future.
The consumer price index in the United Kingdom surprisingly decrease in December of the last year to the lowest level since 2009, as the indicator reached the 2% target level of the Bank of England. Economists, in turn, predicted no change from November's 2.1% level. The downward pressure came from prices on meat and fruits, while petrol, gas and electricity
Japanese banks lent 2.6% more money in December of the previous year than a year ago, pointing on the recovery of the banking sector. In total, country's banks lent 411.499 trillion yen. The result in December follows a 2.4% rise a month before. At the same time, foreign banks' lending in Japan advanced 3.8% in December, or 2.165 trillion, down
Natural gas advanced on Tuesday gaining for the third straight session amid speculation that stockpiles in the U.S. declined after last week's extremely cold weather. Natural gas for delivery in February surged 1.4% to $4.333 a million British thermal units on the NYMEX and were last seen at $4.315 as of 4:18 p.m. in Singapore.
West Texas Intermediate oil fluctuated on Tuesday before an industry report showed that stockpiles in the world's largest consumer of the commodity, U.S., rose for the third successive week suggesting that the local demand is falling. WTI for delivery next month traded 11 cents higher at $91.91 per barrel on the NYMEX.
Japanese government bonds increased on Tuesday and were set to record their largest gain in a five-month period after local stocks dropped spurring demand for safer assets. The benchmark 10-year government bonds yielded lower falling by four-and-a-half basis points to 0.65% by 3:42 p.m. Tokyo time, the biggest slide since August 5.
European shares declined on Tuesday trading session falling from the strongest level since 2008 amid concerns that some companies may fail to raise capital and as global indexes declined on speculation the U.S. Fed may slow down its tapering. The benchmark index Stoxx Europe 600 slipped 0.8% to 328.04 as of 8:29 a.m. London time, the largest fall since January
China's shares increased on Tuesday session rising for the first time in a five-day period mainly due to an advanced of consumer and energy companies after the region's benchmark stock index dropped to the lowest level. The Shanghai Composite Index gained 0.9% to 2,026.84 rebounding from the weakest level since July 31 and it has tumbled 4.2% in 2014.
Inflation measured as harmonized priced index in France stayed unchanged in the last month of 2013 missing economists' projection of an increase, the latest data published by the statistical office Insee showed on Tuesday. France's harmonized index of consumer prices remained 0.8% in December, the same level measured in the previous month, while it was forecast to grow to 0.9%.
Business confidence in New Zealand improved in the last quarter of 2013 rising to the highest level since 1994 as regions through the whole country recovered, a report published by the New Zealand Institute of Economic Research showed on Tuesday. According to the report, New Zealand's business conditions advanced with 52% of firms gaining in the Q4, up from 33%
Current economic situation in Japan according to economy watchers' assessment improved in the last month of 2013, a report revealed by the Cabinet Office unveiled on Tuesday. The report also showed that the country's Eco Watchers' index of current conditions rose from November's 53.5 to a level of 55.7 in the following month.
Japan's current account came in deficit in November recording the second straight shortfall of the current account, a report published by the Ministry of Finance unveiled on Tuesday. According to the report, the Japanese current account deficit totaled 592.8 billion yen in November, however it was expected to record a deficit of 368.9 billion yen.
The performance of Spain's economy improved in the last quarter of 2013, when it grew at a faster rate than in the previous quarter suggesting that the region may create more jobs, a report revealed by the Ministry of Finance showed on Tuesday. The Spanish GDP rose 0.3% in the Q4 following an expansion by 0.1% in the prior quarter.
German government bunds increased on Tuesday session with the benchmark 10-year yields falling for the third straight day before the euro-area report showed that inflation in the region jumped at the fastest rate in two-and-a-half year in November. The 10-year bund yield slipped one basis point or 0.01% to 1.80% by 7:1 a.m. in London.
The Japanese Yen weakened on Tuesday falling against the U.S. Dollar after it recorded a rally on Monday as Wall Street shares dropped on weak U.S. jobs data suggesting that the Federal Reserve may cut its scale-back plan. The Yen shed as much as 0.5% to 103.48 per U.S. Dollar following an increase to a level of 102.85 seen on
U.S. stocks closed lower on Monday trading session as companies from SodaStream to Express Inc reported their weak quarterly results and on speculation that the U.S. Federal Reserve may reduce tapering as the economy losing its momentum. The Dow Jones industrial average slipped 1.09% to 16,257.94, the S&P 500 Index fell 1.26% to 1,819.2 and the Nasdaq Composite Index tumbled