American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
German business morale shows its worst reading for more than a year
In June, German business confidence slipped to its lowest value for more than a year, thus dropping a hint that the mood among company executives in the EU’s number one economy is worsening as the world is getting closer to a full-fledged trade conflict.
Activity in all four sectors gauged by the Munich-based Ifo institute in the survey conducted on Monday - services, trade, manufacturing as well as construction – headed south, contributing to signs the German economy is currently speeding down after the previous year’s boom.
Ifo told that its business climate index slipped to about 101.8, which is the lowest outcome since May last year. The given outcome was a bit firmer than anticipated in a Reuters consensus estimate of 101.7.
However, market experts excluded an economic downtime. Additionally, they forecast the German economy would keep soaring although at a slower tempo than the previous year’s outcome of 2.5%.
The mild dive reaffirms expert’s narrative of the German economy speeding down to a normal surge level. However, it shouldn’t be regarded as a downturn or recession.
Much of the German data released in 2018 has pointed to the fact that the German economy is speeding down.
Industrial activity as well as exports happened to be dismal in the first four months. Additionally, American leader Donald Trump is currently threatening to put huge duties on car imports from the European Union - a trade that Germany has always dominated.
Moreover, German business leaders are also concerned by the fact that a parallel trade feud between Beijing and Washington could harm exporters, traditionally relying on the world's two leading economies for surge.
Some market experts point out the economic boom has already stopped and Germany’s economy is demonstrating signs of normalization.
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…