France at risk of recession with Europe lagging September 23, 2014 THE EUROZONE is on the brink of another economic dip and France may have fallen into recession, influential survey data showed yesterday. Markit’s purchasing managers’ index (PMI) fell to 52.3 for the Eurozone in September – a new low for 2014. A score of above 50 signifies growth, however, the index has been falling since [...]
Draghi hits out at Eurozone’s lack of reform September 22, 2014 EUROPE’S sick economies need massive structural reforms if they ever hope to become competitive once more, European Central Bank (ECB) boss Mario Draghi urged yesterday. “Courageous structural reforms and improvements in the competitiveness of the corporate sector are key to improving the business environment,” Draghi told the European Parliament’s economic and monetary affairs committee. “This [...]
Federal Reserve’s William Dudley sees inflation staying low despite rise in hiring September 22, 2014 Unemployment can continue falling to unusually low levels without risking dangerously high inflation, Federal Reserve policymaker William Dudley said yesterday. Inflation has been running below the Federal Reserve’s target for more than two years, meaning there may be more room than expected to allow growth to surge before any rate rises. Dudley is already considered [...]
Italy slows euro growth September 22, 2014 GLOOMY European consumers and weak Italian industry are dragging the Eurozone even further from recovery, new data showed yesterday. The European Commission’s consumer confidence index continued its decline into September, falling to minus eight from this year’s high of minus 4.1 in May. Italy’s industrial orders index showed a fall of 1.5 per cent in [...]
UK house prices soar as lack of homes fuels cost of living crisis September 22, 2014 House building in the UK has been in a continual state of decline since the 1970s, making it harder to own a home and to pay rent, according to a report released yesterday. In the several years preceding the financial crisis, just under 200,000 houses were completed per year – half the number that [...]
G20 states call on Eurozone to sort itself out September 21, 2014 FINANCE ministers from around the world used this weekend’s G20 meeting in Australia to demand European officials act promptly to get the Eurozone economy back on track. The ministers and central bank chiefs discussed financial regulation, tax avoidance and the ways they were going to add an additional 1.8 per cent to their collective growth [...]
Build on the green belt to ease home price crisis, say economists September 21, 2014 ROLLING back the green belt and easing planning laws are needed to address the cost of living crisis, analysts at the Institute of Economic Affairs (IEA) argued today, hitting out at Labour’s plans to cap rents and set conditions on the type of homes built. The think tank argues that house prices have shot up [...]
Manufacturers demand more support to aid their recovery September 21, 2014 MANUFACTURERS feel left out of the economic recovery and are today demanding politicians give the sector more support in their 2015 general election campaigns. Industry body the EEF has made wide-ranging recommendations for policies to promote investment in skills, innovation, infrastructure and energy security, and also wants to stay in the EU. While mostly consisting [...]
Ireland economy booms 7.7 per cent despite ailing recovery in Eurozone September 18, 2014 Ireland’s economy grew by an exceptional 7.7 per cent in the year to June as it apparently missed the news that the recovery was stalling on the continent. Not only was it the fastest annual growth of any Eurozone member, but it had also the fastest quarterly growth at 1.5 per cent, according to the [...]
Confident shoppers Hoover up vacuums ahead of Brussels’ ban September 18, 2014 THE UK recovery received a fresh boost from confident consumers splashing out in August, official figures showed yesterday. Retail sales were up 3.9 per cent on the year in August, driven by sales of luxury goods and powerful vacuum cleaners that are being banned by the European Union. There was a six per cent uptake in purchases [...]