German growth in 2019 worst since Eurozone crisis, says Bundesbank January 20, 2020 Germany’s central bank has predicted that the country’s economy grew last year at its slowest pace since the Eurozone crisis as its manufacturing sector was badly shaken by global trade tensions. The Bundesbank today estimated that Europe’s biggest economy grew by just 0.6 per cent last year. This would be the worst figure since 2013, [...]
IMF downgrades global growth forecasts despite US-China and Brexit deals January 20, 2020 The International Monetary Fund (IMF) has downgraded its global growth forecasts and said there are “no clear signs of a turning point” for the world economy despite the signing of a US-China trade deal and more clarity over Brexit. In the latest of a series of downgrades, the IMF said it expects global growth for [...]
UK household optimism hits one-year high but uncertainty remains January 20, 2020 UK households became more upbeat about their finances in January, a survey from data firm IHS Markit has shown, with December’s general election result and falling inflation pushing optimism to a one-year high. The survey was the latest to show rising optimism following Boris Johnson’s thumping election win in the middle of December. Firms and [...]
UK food and drink sector shrugs off Brexit worries January 20, 2020 The UK’s food and drink production industry has continued to shrug off the Brexit woes afflicting other manufacturing sectors, with employment at its highest in fifteen years, according to new analysis of the latest data. However, the analysis also showed that the European Union continued to be the industry’s biggest export market, leaving it vulnerable [...]
London job-seekers optimistic after election January 20, 2020 The number of people looking for jobs in the City surged between November and December, according to a new report, suggesting that Boris Johnson’s emphatic election victory could prove a turning point for the Square Mile’s jobs market. However, the rise was not enough to outweigh the bruising effects of a year of Brexit uncertainty, [...]
London firms now more pessimistic about Brexit than rest of country January 19, 2020 London firms are now more pessimistic about the effect Brexit will have on the economy than the UK as a whole, new analysis has shown, despite being less daunted than the rest of the country by the prospect a year ago. However, the capital’s businesses remain more confident about their trading prospects, hiring intentions and [...]
IMF warns growing inequality could cause a new financial crisis January 18, 2020 The head of the International Monetary Fund (IMF) has called on the world’s financial sector to address near-record levels of inequality within countries that could be a harbinger of a new financial crisis. IMF managing director Kristalina Georgieva issued a “call to action”, urging a shift to facilitate more lending to small and women-led businesses, [...]
Gold is the new gold: Why the safe haven investment could shine in 2020 January 18, 2020 The start of 2020 has certainly been a rude awakening for traders returning to work after the Christmas break. Oil prices spiked after the US assassination of Iranian general Qasem Soleimani ignited tensions in the Middle East. Equities were shaken, and investors flocked to safe haven assets in a bid to shelter from the storm. [...]
China reports weakest growth in 29 years as trade war bites January 17, 2020 China’s economic growth sunk to its weakest in almost 30 years in 2019 amid a bruising trade war with the US and anaemic domestic demand, with more stimulus from Beijing expected this year. Stocks held firm following the release of the data, which showed that the world’s second largest economy ended the year on a [...]
Donald Trump brands China trade deal ‘one of the greatest ever’ January 16, 2020 Donald Trump has labelled the agreement the US signed with China yesterday as “one of the greatest trade deals ever made”, adding that it has put the US in a “great position” for the next stage of talks. The world’s two biggest economies signed a “phase one” trade deal at the White House in Washington [...]