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UK PMI release reveals industry weakness

Note: This section contains information in English only.
Source: Bloomberg
Data on UK's PMI surprised investors on Tuesday by entering negative territory with 49.2 points, plunging from 50.1 points in March. Investor Expectations were missed by 2 points as result to falling output and rising uncertainty over global and domestic economic conditions, which are believed to contribute to a further downturn during the second quarter.
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03 May 2016

EC cuts GDP growth forecasts

On Tuesday, the European Commission revised downwards its GDP growth forecast for the Euro zone to 1.6% from the previous year's 1.7% result and the 1.7% growth outlook reported in February, whereas the European Union's GDP growth forecast was lowered to 1.8%, following the last year's 2% growth and February's 1.9% projection.

03 May 2016

Chinese manufacturing extends downfall

The Chinese Caixin manufacturing PMI showed a 0.3 point drop from the month before at 49.4 points, continuing the recessive trend that has pushed the measure in negative territory for the 14th consecutive month. The indicator was 0.4 points short of investors' expectations and it is thought that the economy is still in need for a solid recovery foundation.

03 May 2016

Asian markets spike after RBA rate cut

Asian stocks surged with Australia leading the trend on Tuesday, following a rate cut by the RBA. While Japanese markets closed for Constitution day, the Shanghai Composite index spiked by 1.4% to show 2 979.75 points at 5:00 GMT, while the Hang Seng index fell 1.1% and traded at 20 828.69 points at 5:00 GMT.