US manufacturing unexpectedly fell in June

Source: Bloomberg
Production in US unexpectedly fell last month, the first drop in nearly three years, warning that slowdown in US economy may linger. The ISM manufacturing gauge tumbled from 53.5 in May to 49.7 in June, surpassing even the most pessimistic predictions. Economists questioned by Bloomberg predicted an average drop to 52. US economists suggest Europe is adding negative pressure on US manufacturing. 
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Tue, 03 Jul 2012 08:06:36 GMT

Housing approvals rallied in Australia in May

Australian home construction permits surged in May indicating that demand for housing my climb as RBA reduced the interest rates. The number of approvals to renovate or build apartments and houses jumped 27.3% compared to a 7.6% drop in April. Economists questioned by Bloomberg predicted a 5% advance. 

Mon, 02 Jul 2012 15:47:32 GMT

German DAX extends gains on persisting after-summit optimism

DAX 30 edged higher on Monday supported by technologies and financials. The index was not strongly affected by deteriorating Eurozone manufacturing activity nor record high regions unemployment level of 11.1%. The main gainer was Commerzbank that surged 2.5%. On the downside Linde AG tumbled 2.5% after German gases and engineering enterprise said late Sunday that it has offered to buy

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