Consumer confidence falls in both Eurozone and EU April 23, 2019 Consumer confidence in both the Eurozone and the European Union fell in April, in news that will cast further gloom on a region that has been struggling economically in 2019. Read more: Euro falls as weak Eurozone data triggers slowdown fears The European Commission’s monthly consumer confidence indicator dropped by 0.7 points in the euro [...]
Euro falls as data suggests Eurozone economy will grow just one per cent in 2019 April 18, 2019 The euro suffered today as economic data dealt a fresh blow to hopes for the Eurozone economy. Read more: Eurozone construction sector bounces back in February after weak January Germany and France’s manufacturing industries are contracting, a closely-followed index revealed, with both staying lower than the 50 measure representing growth. Overall, both the Eurozone’s leading [...]
‘Wake-up call’: Germany downgrades 2019 economic growth forecast to just 0.5 per cent April 17, 2019 The German government today once again slashed growth predictions for its economy, saying it now foresees a GDP increase of just 0.5 per cent in 2019, compared to the 2.1 per cent it predicted a year ago. Read more: Eurozone manufacturing sector contracts with Germany shrinking fastest Economy minister Peter Altmaier said new car emissions [...]
EU threatens $20bn of tariffs on US goods from ketchup to helicopters April 17, 2019 The European Union has threatened to slap $20bn (£15.3bn) worth of tariffs on American goods in retaliation for possible tariffs from the US, as the long-running conflict over aircraft subsidies continues. Read more: US threatens tariffs on $11bn of EU goods The European Commission today said it could tariff everything from rum and ketchup to tractors and helicopters, [...]
EU trade in goods surplus with US increases as economic tensions rise April 17, 2019 The European Union’s trade in goods surplus with the US grew in January and February compared to a year earlier, a development that could further raise tensions with the Trump administration. Read more: EU officials given go-ahead to negotiate with Trump on tariffs Meanwhile, the EU’s trade in goods deficit with China increased, driven by [...]
German investors more optimistic thanks to Brexit delay April 16, 2019 Investors are more optimistic about the struggling German economy than they were a month ago, in a sign that Europe’s biggest economy may be about to turn a corner. Read more: Eurozone manufacturing sector contracts with Germany shrinking fastest German research institute ZEW’s monthly survey of sentiment among analysts swung into positive territory for the [...]
Monetary policy is too crucial to leave in Labour’s meddling hands April 16, 2019 Even by Donald Trump’s standards, it was an extremely Donald Trump thing to do. Last week, the President nominated Herman Cain for a seat on the board of the Federal Reserve, attempting to hand oversight of the world’s largest economy to a maverick gold-standard enthusiast. The nomination appears to be doomed, largely because of the [...]
You can’t blame Brexit for the British car industry’s woes April 15, 2019 Quizzed by Nick Hewer on Honda’s decision to close its Swindon plant earlier this month on BBC radio, I suggested that blaming Brexit for the demise of the Japanese auto makers factory with the loss of 3,500 jobs was not the whole story. Certainly, Brexit plays havoc with the vehicle industry’s sophisticated just-in-time supply chain. [...]
The euro falls as ECB chief Draghi delivers pessimistic verdict on Eurozone economy April 10, 2019 The European Central Bank (ECB) kept up recent tradition today when it announced it would hold interest rates at record low levels and reaffirmed that it will not raise them before the end of 2019. Read more: US threatens tariffs on $11bn of EU goods ECB boss Mario Draghi struck a more pessimistic tone than [...]
Jeremy Corbyn and Alexandria Ocasio-Cortez love Modern Monetary Theory, but it is just the magic money tree again April 10, 2019 As the Brexit process unfolds, the possibility of a Corbyn government has become much more tangible. Last month, John McDonnell, the shadow chancellor, wrote to the Treasury to say that in power he would require them to “widen the range of economic theories and approaches in which its officials and those in the rest of [...]