The economic growth in Estonia turned to be negative in the first three months of the current year, as the GDP lost 1.2% on quarterly basis. Moreover, year-on-year economy dropped 1.9% after a 0.3% decrease in October-December quarter. The data showed a slowed increase in manufacturing sector, particularly in chemical and electronic industries, which also decreased exports.
Activity in the construction sector of Ireland reached the maximum level since 2004 in April of this year, as orders increase and companies hire new staff. The benchmark PMI Index for this particular sector from the Ulster Bank advanced to 63.5 points last month from 60.2 points in March. The indicator expands for the eight consecutive month, having a reading
The European economy is recovering from the prolonged recession and is ready to show a pick up this week, as analysts are waiting for GDP data. However, the ECB is probably going to increase the pace of stimulus in June, pointing on very low inflation of 0.7%, less than a half of the ECB target. Among possible actions, economists see
The vast majority of investors, who participated in the poll of Bloomberg news agency, agree that the Eurozone faces serious risks of deflation in the medium-term. This point of view was supported by 74% of respondents. It is worth pointing out that some countries, such as Portugal, have already registered deflation, while the overall CPI level in the Eurozone still
The Bank of England's Monetary policy committee decided to keep the monetary policy course, implementing no changes to the interest rate of 0.5%, which is stable since 2009. Moreover, the volume of asset purchases program has also been kept at the previous level of 375 billion pounds. As expected by analysts, any changes may start to take place in the
Barclays Plc, one of the biggest banks in the United Kingdom, announced on Thursday 7,000 additional job cuts that will take place by 2016. A report shows that the financial institution wants to decrease its dependence on this working unit. Therefore, the total job losses will amount 19,000 by 2016. Today, Barclays Plc shares are jumping 4.7% to 254.75 pence
The government of Denmark unveiled a plan to support country's economy, as the mortgage crisis pushed it to recession. As expected, the authorities are preparing a $1.1 billion investment plan to increase output. Moreover, the business climate is expected to improve considerably, with tax breaks for new companies, lower taxes on dividends and reduced electricity fees.
Consumer confidence in Switzerland weakened modestly in the month of April amid lower spending by the nation's households staying cautious about general economic development, the State Secretariat for Economic Affairs showed in a report on Thursday. Switzerland's consumer sentiment index dropped from +2 recorded in January to a level of +1 in April, while it was originally seen to be
Industrial output in the Europe's largest economy dropped surprisingly in March, a report unveiled by the statistical office Destatis showed on Thursday. According to the report, the German industrial production slipped 0.5% on a sequential basis in March falling for the first time in a five-month period, while in February the production gained 0.6%.
House prices in the United Kingdom dropped in April falling for the second successive month, however the pace of decline was lower than in the previous month, the latest data revealed by the Lloyd Banking Group showed on Thursday. According to the report, the U.K. house prices fell 0.2% in March following a slide by 1.2% in the prior month.
United Kingdom's average asking house price declined on April, while it originally expected to slightly advance on the month, a report released by the Royal Institution of Chartered Surveyors showed on Thursday. According to the report, the U.K. house price balance recorded score of 54 points in April compared to originally expected 56 points.
Unemployment in Australia slightly declined in April with the jobless rate falling to 5.8% on the month compared to initially forecast of 5.9%, the latest data unveiled by the Australian Bureau of Statistics showed on Thursday. The country's economy added 14,200 jobs, while it was estimated to rise only by 8,750 jobs after it adding 18,146 in March.
Labour productivity in the world's largest economy dropped in the first three months of this year and falling by more than experts initially projected, the latest report released by the Labor Department showed on Wednesday. According to the report, the U.S. labour productivity slipped by 1.7% in the Q1 following a 2.3% advanced in the Q4 of 2013.
U.S. consumer credit increased by much more than economists originally projected in March, a report unveiled by the Federal Reserve showed on Wednesday. According to the report, the world's largest economy consumer credit jumped by $17.5 billion in the month of March after rising by $13 billion in February.
According to the Bloomberg survey, the vast majority of analysts predict the ECB to keep its monetary policy without any significant changes after today's meeting. Only two out of 58 analysts forecast a decrease in the main interest rate from 0.25% to 0.15% or 0.1%, as inflation in the Eurozone picked up to 0.7%. Moreover, the same number of investors
The Chinese trade balance came in a surplus in the month of April on an annual basis as imports and exports both returned to increase, the latest data revealed by the Custom Administration showed on Thursday. According to the report, the country's exports added 0.9% and imports gained 0.8% year-on-year in April, while the surplus recorded $18.5 billion.
The Russian currency weakened on Thursday trading session falling against the U.S. Dollar and the 18-nation bloc currency after the Russian Federation President Vladimir Putin commented on Ukraine's situation and as China posted trade surplus in April. The Rubble climbed 0.31% to 35.04 versus the U.S. Dollar and it traded at 48.79 per Euro.
Russia equities advanced on Thursday adding to gains recorded in the previous session as traders remain positive that the geopolitical tension between the Russian Federation and Ukraine may ease as Vladimir Putin tries to delay planned referendum in eastern Ukraine. The U.S. Dollar-denominated RTS index rose 1% to 1,239 points, while the MICEX gauge jumped 1.1% to 1,378.
The Australian currency strengthened on Thursday trading session extending its previous session gains after an industry report showed that imports and exports in China, the country's largest trade partner, increased last month despite expectations for a drop. The so-called Aussie rose as much as 0.5% to a level of $0.9373.
The U.S. Dollar swung between gains and losses on Thursday trading near the lowest level in five years versus its U.K. counterpart amid rising speculation that the Bank of England may tighten its monetary policy measures before the U.S. Fed. The so-called Greenback was last seen at $1.6959 against the Pound, while it added to 101.77 yen.
China's shares advanced on Thursday trading session after a government report showed that the nation's trade balance came in a surplus as exports and imports returned to positive figures in April showing signs of an improvement and as investors bet on further stimulus by the central bank. The CSI 300 Index rose as much as 0.8% on the session.
The European currency fluctuated on Thursday as it traded close to the highest level in two months against the U.S. Dollar before the European Central Bank officials decide whether to maintain interest rates unchanged later today. The Euro strengthened slightly by 0.1% to $1.3917 following an advance towards the strongest level in two months on Tuesday at $1.3952.
The majority of Asian shares increased on Thursday trading session amid dovish comments by the U.S. Federal Reserve officials on current monetary policy and as the world's second largest economy showed trade data signaling stabilization in the country. The MSCI broadest Asia- Pacific gauge outside Japan added 0.5% rebounding from the five-week low, while the Japan's Nikkei 225 gained 0.9%.
The British Sterling increased on Tuesday trading session rising by the most in a four-week period versus its U.S. counterpart after an industry report showed that service sector in the United Kingdom jumped more than projected in April. The Pound strengthened as much as 0.7% to $1.6978 as of 1:07 p.m. in London, the largest advanced since April 8.