"It seems unlikely that net trade can significantly help the U.K. economy in the near term given current ongoing weak domestic demand in the euro zone and moderate and stuttering global growth"-Howard Archer, an economist at IHS Global Insight The U.K. key contributor to overall economic growth fell more than initially was expected in April, as imports declined faster than
"Things aren't weakening in the labour market as much as we'd feared. The unemployment rate rose for the right reasons"-Omair Sharif, a U.S. economist at RBS Securities Inc. American employers increased the pace of hiring in May, as the U.S. economy weathered the impact of tax hikes and federal spending cuts, the Labor Department figures showed Friday. Payrolls in the
"The German economy is gradually exiting the weak phase that it had around the turn of the year" -Mario Gruppe, an economist at NordLB Industrial production of Europe's largest economy expanded most in more than a year in April, boosted by an increase in construction activity after an unusually long winter that damped output. German production jumped 1.8% from March,
"Although the recent economic news has generally been encouraging, it remains hard to see what part of the economy can power a sustainable recovery"-Vicky Redwood, economist at Capital Economics Ltd.The Bank of England's Governor Mervyn King was defeated in his final vote as a member of Britain's Monetary Policy Committee on Thursday, as the central bank refrained from more stimulus
"The pick-up in GDP growth to 2.5 per cent annualised in the first quarter is unlikely to be sustained because it was partly due to a one-off rebound in energy export" -Capital Economics The pace of purchasing activity in Canada soared to the highest level in 14 months in May, adding to signs the economy is on the path of
"There are still no signs of inflationary dangers, meaning the SNB can stick to its policy. It shows the introduction of the exchange rate floor was justified" - ZKB economist David Marmet Consumer price pressure in Switzerland increased slightly in May, but still fell on a yearly basis, continuing to support the case for the Swiss National Bank to keep
"So far, the threat of massive job cuts related to federal spending cuts has failed to materialise "-Challenger, Gray & Christmas CEO John Challenger The closely-watched labour market is showing signs of stabilization as the number of Americans who applied last week for the jobless benefits fell, however, a modest decline is pointing to small change in the U.S. labour
"The governing council continues to see downside risks surrounding the economic outlook for the euro area"-ECB President Mario DraghiThe European Central Bank has revised down its growth forecast on Thursday, and kept the main refinancing rate on hold, as the economy is still struggling to grow. The ECB President said that the 17-nation bloc is expected to shrink 0.6% in
"You've got a much lower reading coming out of what you might call the guts of the economy than you've got coming out of the total economy " -National Australia Bank Ltd. Chief Economist Alan Oster Clouds are massing on Australian economy after data showed sharper-than-expected slowdown in the first quarter's GDP. Australian economy, which is currently in its 22nd
"The government has come up with rosy numerical targets but I doubt any of these could be met or that such a targeting policy could work out as planned " - Hideo Kumano, chief economist at Dai-ichi Life Research Institute Amid rising skepticism about Japan's rescue programme, the nation's Prime Minister Shinzo Abe unveiled on Wednesday an ambitious blueprint for
"The UK economy has moved up a gear with all cylinders now firing"-Chris Williamson, economist at Markit The U.K. service sector expanded much faster than it was initially expected last month, as new business increased at its fastest rate in over three years, Markit and the Chartered Institute of Purchasing & Supply said Wednesday. According to official data, a gauge
"I think what is happening, and what has to happen, is that we just finish the healing process that has been ongoing "-Michael Moran, an economist at Daiwa Capital Markets Service industries in the U.S. grew at faster pace last month as an increase in orders indicated that businesses are confident demand will be rise after a slowdown in the
"Policymakers and politicians will nevertheless seek solace in the fact that the rate of decline has now eased for two consecutive months, and that Germany is stabilizing" -Chris Williamson, chief economist at Markit The 17-nation economy remains weak and is still struggling to grow, with business activity, services PMI and retail sales edging down. Markit Economics said on Wednesday that
"There are still going to be challenges for exporters in Canada in coming months " - National Bank Financial senior economist Krishen Rangasamy Canada's merchandise trade deficit widened in April, as imports hit a record high and exports turned down, a further sign that exporters' woes are weighing on economic growth, Statistics Canada data showed on Tuesday. In April, Canada
"The Reserve Bank has kept the easing bias firmly in place" -Craig James, a senior economist at a unit of Commonwealth Bank of Australia During its monthly policy meeting, the Reserve Bank of Australia led by the Governor Glenn Stevens and his board decided to keep the overnight cash-rate target at 2.75%, as the central bank assesses the effect on
"Construction output appears to have finally pulled out of a tailspin in May"-Tim Moore, senior economist at Markit Britain's key construction sector returned to growth last month led by a surge in homebuilding, suggesting construction sector might add to overall U.K. economic growth in the second quarter. A gauge of activity jumped to 50.8 from 49.4 in April, beating analysts'
"The details of this report offer an encouraging take on both U.S. and global economic activity at the start of the Quarter"-Millan Mulraine, an economist at TD Securities USA LLC The U.S. trade deficit widened in April, from a more than three year low, reflecting an improvement in imports of consumer goods and business equipment, easing concerns about the degree
"We're engaged in a race against time, and in too many countries, too many people without a job - in particular young people - remind us that the battle is not yet won, and further efforts are needed" -EU President Herman Van RompuyThe number of unemployed people in Spain fell more than initially expected as employers ramped up hiring in
"Evidently, the situation for industry has stabilised, although it is too soon to talk about a sustainable recovery " - Swiss SVME purchasing managers' association and Credit Suisse Switzerland's key manufacturing output index surged more than expected in May and further improvement is expected, as domestic demand rebounded. The Swiss Purchasing Managers Index rose to 52.2 points last month, up
"Anecdotal reports suggest retail sales rose in April, although we expect growth to continue moderating " -Westpac Banking Corp. (WBC) economists led by Bill Evans Australian retail sales rose less than economists predicted last month, as weaker spending at department stores offset increased outlays on footwear and clothing. According to the Bureau of Statistics in Sydney, the nation's retail sales
"The government is making the shift towards growth-enhancing spending unnecessarily difficult by protecting large areas of spending"-Terry Scuoler, chief executive of the EEF, a manufacturing group Britain's factory index rocketed to a 14-month high last month, boosted by the increase in new orders, adding to signs the economic recovery is gaining strength. A gauge of manufacturing activity jumped to 51.3
"Manufacturing is really stymied by slow corporate spending and government spending cutbacks "-Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC Manufacturing activity in the U.S. unexpectedly contracted last month at the fastest pace in four years, indicating that a decline in business and government spending is weighing on the top global economy. The factory index of the Institute
"The drivers of such a gradual recovery are the highly accommodative monetary policy and export growth, caused by growing foreign demand" -ECB President Mario Draghi The 17-nation economy is expected to start gaining pace later this year, even despite challenging outlook, the ECB President Mario Draghi said on Monday. During the last month's policy meeting the ECB has cut its
"The Swiss economy should consequently gather some momentum" - KOF Economic Research AgencySwiss KOF leading economic indicator improved for a second straight month in May, adding to signs that the economy will continue gaining momentum even despite deepening Eurozone recession. The index, compound by the KOF Economic Research Agency, rose 0.06 points to 1.10 this month, up from an upwardly