German retail sales fell in May

Source: Bloomberg
Retail sales in Germany unexpectedly declined for a second straight month in May highlighting the negative impact of debt crisis on economy. On monthly basis retail sales contracted 0.3% contrasting the predicated improvement of 0.2%. On annual basis sales have lost 1.1%. Germany's unemployment level remained flat at 6.8% in June while the number of jobless people climbed by 7000.
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Fri, 29 Jun 2012 10:20:25 GMT

EU officials alleviate rules for Spain and Italy

Eurozone leaders agreed to relieve repayment requirements for loans to Spain's banks and ease conditions to aid Italy after German Chancellor Merkel capitulated on applying more measures to halt the debt woe. Euro rallied 1.1% versus US Dollar to 1.2579 on the news.

Fri, 29 Jun 2012 11:39:25 GMT

China's Industrial Companies Profits decline

Profits of Chinese industrial companies shrank for a second consecutive month in May owing to economic slowdown. According to the National Bureau of Statistics, income declined by 5.3% from 2012 to USD61 billion. It is expected that the Chinese government may introduce measures to foster economic growth by stabilizing international trade and investing in infrastructure development. 

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