U.K. industrial data outperforms expectations

Source: Bloomberg
U.K. industrial production dropped less than expected in June, showing the crisis may have been less intensive in the second quarter than reported before. Industrial output slipped 2.5% from May amid the impact from additional public holiday on queen's Jubilee, reported by the Office for National Statistics on Tuesday. The fall was the highest since November 2008, however, it was smaller than 3.5% median forecast.
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Tue, 07 Aug 2012 11:11:10 GMT

Italy GDP shrinks, recession continues in Q2

Italy's economy dropped 0.7% in the second quarter, as reported on Tuesday. ISTAT said that GDP fell 2.5% year-on-year after a drop of 1.4% in the first quarter, showing the deepest decline since the end of 2009. The data creates struggle for Mario Monti, who is targeting to diminish the budget deficit to 0.1% of GDP through 2014, to fulfill

Tue, 07 Aug 2012 16:32:10 GMT

European consumers spent less in the second quarter

As European governments are implementing austerity measures in order to curb the debt crisis, consumers are reining in spending as well. Consumers in France spent 0.2 per cent less during the second quarter. Meanwhile, consumer confidence in the Eurozone reached three-year low in August. Moreover, companies included in the European Stoxx 600 Index reported lower quarterly earnings and overall consumer spending on services and

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