In the final quarter of 2018, the German economy stalled, narrowly dodging recession because the fallout from global trade clashes and Brexit threatened to heavily impact a decade-long expansion in the EU’s number one economy…
American business activity speeds down in June
In June, American private sector activity speeded down, as follows from survey data uncovered on Friday.
This month the preliminary outcome of the Markit services purchasing managers’ index amounted to 56.5, dipping from May’s result of 56.8.
Market experts had predicted an outcome of 56.4.
In June, the manufacturing PMI headed south to 54.6 versus May’s reading of 56.4.
Market experts had hoped for an outcome of 56.3.
The composite output index, gauging the combined output of both the manufacturing as well as service sectors, headed south to 56.0 in June in contrast with May’s reading of 56.6.
The consensus forecast was making its way to a sag to 55.1.
On the index an outcome above 50.0 stands for industry expansion, but if it’s below, it shows contraction.
Notwithstanding the sag in the composite index, IHS Markit told that American private sector companies faced a strong end to the second quarter of this year, powered by another firm contribution from service providers.
On the contrary, manufacturing production surge speeded down for the second month running, getting to its weakest value since September last year.
IHS Markit chief market expert Chris Williamson stressed that even with June’s slowdown, the second quarter turned out to be the best for three years.
According to his calculations, economic surge managed to pick up from the 2.3% observed in the first quarter to a 3% soar.
Price pressures were still elevated because of a mix of soaring fuel prices as well as tariff-related price jumps and also supplier’s gaining pricing power because demand beats supply for many inputs.
By the way, for the first time in 2018, factory output is soaring faster than order books, thus dropping a hint that output might be adjusted down in the nearer months.
In January, the annual rate of inflation in Great Britain went down to 1…
The levels of retail sales and core retail sales for the US will be released on February 14 at 15:30 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…