How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
European car sales inch up 7.7% in May
In May, European car sales went up 7.7% from the same month last year, as industry data revealed on Friday, getting back to surge after a sag in April and with almost all car manufacturers recording sales leaps.
The previous month new passenger car registrations in the EU as well as European Free Trade Association soared to 1.43 million cars, as the Brussels-based Association of European Carmakers informed.
The given outcome is close to May 2007 level, before the economic meltdown hit the car industry.
European car sales got back to annual surge in 2014 after a six-year tumble during which registrations declined to their lowest value in decades. Apparently, demand has been ascending most months as an improvement in retail incentives, consumer confidence and new product launches lured clients back to the showrooms.
The May soar emerged after registrations had slumped last month, considering fewer trading days around Easter and a double-digit sales dip in the UK.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.