Viva Espana: Spain on the mend as northern countries flounder October 1, 2014 SPAIN’S manufacturing sector was the fastest growing of the big four Eurozone nations, according to survey data released yesterday. The purchasing managers index published by Markit was 52.6 for Spanish manufacturing which means the sector is growing at a respectable rate. Spain’s manufacturing PMI has now grown for 10 consecutive months. Meanwhile, the economy grew [...]
US jobs likely to see increase in September October 1, 2014 US ECONOMIC growth looks robust as data released yesterday showed more Americans were getting jobs as well as the manufacturing sector growing strongly. Private employers created 213,000 jobs in September, according to payroll processor ADP.Trade, transportation and utilities led the job gains, with 38,000. Manufacturers added 35,000, and professional and business services, 29,000. Economists now expect [...]
Stats show UK economy soaring to a record high September 30, 2014 THE ECONOMY hit its pre-crisis peak far earlier than previously thought, according to official figures published yesterday. British GDP surpassed its previous high midway through 2013, the Office for National Statistics (ONS) said – around a year earlier than its unrevised data had shown. Current GDP is 2.7 per cent above its 2008 peak. Meanwhile, [...]
Rents and house prices cool from summer boom September 30, 2014 THE PROPERTY market appears to be giving a glimmer of hope to prospective first-time buyers, with house price growth slowing in September and landlords saying they expect lower rent increases. Nationwide’s house price index, released yesterday, fell 0.2 per cent from August to September which knocks annual growth down to 9.4 per cent from 11 [...]
Eurozone woes give Draghi leeway on QE September 30, 2014 THE EUROZONE is still flirting with deflation while unemployment remains stubbornly high, opening up the possibility that the European Central Bank (ECB) will deliver further monetary easing when it announces its latest policy decision tomorrow. Figures published yesterday by official database Eurostat showed that unemployment in August came in at 11.5 per cent – the [...]
Brussels finance boss tells City: I’m on your side September 29, 2014 THE EU’s top finance regulator Michel Barnier yesterday tried to win over London’s traders during a speech in the square mile, insisting he does not want to harm the City. “The European Commission has no interest in undermining the UK, and no interest in threatening London’s place as the largest European financial centre,” he said. Barnier had [...]
Falling confidence in Eurozone points towards another recession September 29, 2014 CONFIDENCE in the Eurozone fell for the fourth consecutive month in September, adding to the growing body of evidence that the currency union is edging toward recession. The headline figure of the European sentiment index (ESI), published by the European Commission, fell to 99.9 in September from 100.6 in August. Figures released earlier in the [...]
Mortgages cool fears of bubbles and surprise hike September 29, 2014 LENDING in the UK economy contracted slightly in August as the number of mortgage approvals declined. It signals that the housing market may continue to cool off from its summer highs, which would be consistent with surveys published earlier in the month such as the Halifax house price index. The data released by the Bank of [...]
UK jobs boosted by EU migrant workers as businesses increase apprenticeships September 29, 2014 Immigrants from Europe are not undercutting the wages of young people in the UK, but may actually be increasing their chances of getting a job, according to a report released today. The research by the Chartered Institute of Personnel and Development also found that firms employing migrants often had more internship and apprenticeship opportunities, which [...]
UK firms ready to invest as US and UK surge ahead September 29, 2014 THE UK’s largest firms are readying themselves for a new era of innovation and investment as a survey of bosses says the willingness to take on risk has risen due to surging US and UK economies and easier credit availability. Of the 118 chief financial officers of major UK companies surveyed by accountancy firm Deloitte, [...]
