Retail sales across the 17 European Union countries that use the single currency fell more than expected in October, adding to concerns that the economy may struggle to pull out of a recession. Sales dropped 1.2% from a month ago, when they fell 0.6%, the EU's statistics office Eurostat said Wednesday. It is the biggest decline since April, when retail
Swiss consumers claimed their readiness to increase spending during Christmas shopping, the Swiss Christmas Retail Survey 2012 made by Deloitte showed on Tuesday. Consumers intend to spend around 996 Swiss francs ($1,076) this season, compared to 955 francs in the year ago. Only about 30% of all nations' consumers consider that they have lower spending power, compared to 41% in
Fears that the U.K. is heading for a triple-dip recession have heightened, as nation's construction sector contracted and confidence about the next 12 months dropped to its lowest level in almost four years. The Markit/CIPS Construction Purchasing Managers' Index tumbled to 49.3 in November, down from 50.3 in October, falling below the 50 level that separates a sector that is
With only few weeks remaining until the beginning of the so-called "fiscal cliff", republicans and democrats countered the president Barack Obama's proposal to avoid the mandatory tax increases and steep spending cuts with total value of $600 billion. However, the uncertainty has already hurt business spending for 2013, and in case politicians do not come up with the decision, the
The number of people in Spain, which are officially registered as unemployed, has edged up toward five million last month, a sign country's recession continues unabated. Spain's number of the jobless jumped 1.5% in November, compared with a month earlier, or by 74,296 people, leaving 4.9 million people out of work, report by the Labor Ministry showed on Tuesday. The
The Japanese government approved another stimulus package in order to support flagging economy, which becomes a key issue in the upcoming December general elections. The cabinet announced that it would tap reserve funds to spend 880bn yen ($10.7bn; £6.7bn) mainly to create employment and support small businesses. This is already the second stimulus package in a little more than a
Retail sales in Switzerland rose less than expected in October, implying that the economy is losing momentum. According to the Switzerland's Federal Statistical Office, retail sales rose 2.7% in October from a year ago, however, missing expectations for a 4.1% gain. The gauge, which measures a change in the total value of inflation, excluding automobiles and gas stations, and accounts
British manufacturing activity contracted much less than was initially expected in November, however, domestic and internal demand remains weak, adding to concern that the sector is still fragile. According to the Markit/CIPS, their Purchasing Managers' Index for the manufacturing sector jumped to 49.1 last month, reaching the highest level since August, up from October's downwardly revised 47.3. In the meanwhile,
Manufacturing in the world's biggest economy unexpectedly contracted last month after two straight months of growth, due to a significant drop in orders. The Institute for Supply Management (ISM) said its index of national factory activity tumbled to 49.5 in November, compared to 51.7 the month before, reaching the lowest level since July 2009. New orders dropped to 50.3 from
Eurozone manufacturing contracted for a sixteenth consecutive month in November, a sign that the 17-nation economy will struggle to grow in the final three months of the year, Markit survey showed Monday. Manufacturing PMI improved to 46.2 in November from 45.4 in October, meeting analysts' expectations. The reading showed the slowest pace of contraction in eight months, but the downturn
Retail sales in the world's third biggest economy fell by the most in 11 months, a sign of faltering consumer spending which accounts for the majority of overall economic activity.
Swiss economy expanded more than initially expected in the third quarter as government spending rose and exports held up despite the strong Swiss franc.
The U.K. house prices remained unchanged this month, while are likely to fell slightly during the next year, the Nationwide Building Society said on Thursday.
The world's biggest economy continue gaining momentum in the third quarter, as a narrowed trade gap and gains in inventory overshadowed a limited gain in consumer spending.
The number of unemployed people in France soared to the highest level since April 1998, putting more pressure on Socialist President Francois Hollande who has pledged to halt the relentless rise by the end of 2013.
The Cabinet of Prime Minister Yoshihiko Noda is likely to approve an 880 billion yen ($10.7 billion) emergency plan Friday in order to boost struggling economy.
Swiss life, the largest life insurance company of Switzerland, is going to slash the valuation of its German advisory arm by 576 million Swiss francs ($618 million), which the company bought four years ago.
The prolonged recession in the U.K. forced an extra 1 million people into working fewer hours than they want, a study from the Office for National Statistics showed Wednesday.
The number of purchases of new homes in the world's biggest economy dropped unexpectedly in October, showing limited progress in the housing market recovery.
The average price change for all goods and services purchased by households in Germany fell in November, affected by the Eurozone's debt crisis, the state's statistics office in Dusseldorf said Wednesday.
A gauge, which measures corporate service prices in the world's biggest economy, fell more than expected in October, adding to concerns that the country will miss its 1% inflation level and the BoJ need to take more bold actions to boost economic growth.
An indicator of domestic consumption in Switzerland continued gaining momentum in October, recovering from the weak levels seen in the summer, a report from UBS showed on Tuesday.
The British economy expanded by 1% between July and September, as country's households increased their spending at the fastest pace in more than two years during the third quarter that included the Olympic Games.
Confidence among the U.S. consumers soared to the highest level since February 2008 this month, a sign U.S. household spending will keep gaining momentum.