The key US dollar three-month Libor rate rises above one per cent for first time since 2009 January 4, 2017 The key benchmark interest rate for banks to lend to each other has risen above one per cent for the first time since May 2009, in a long overdue sign of recovery in banking sector lending. The three-month US dollar Libor (London Interbank Offered Rate) rose to 1.00511 after being fixed at 0.99872 on Tuesday, [...]
Boost for ECB as Eurozone inflation reaches highest point since 2013 January 4, 2017 Eurozone inflation rose to its highest point since 2013 as higher oil prices fed through to the big increase, in welcome news for efforts by the European Central Bank (ECB) to boost Europe's economy. The annual rate of inflation rose to 1.1 per cent in December, according to flash estimates from the European Commission, almost [...]
UK home-buying stays solid in November but consumer credit rises by highest amount since 2005 says the Bank of England January 4, 2017 British house purchase numbers stayed flat in November, but still remained steady above pre-referendum levels, while UK consumer borrowing increased by the most since March 2005. UK banks approved 67,505 mortgages in November, compared to 67,371 in October, according to the Bank of England (BoE), but remortgaging levels rose to the highest levels since October [...]
Eurozone economic activity increased at its fastest rate since the debt crisis in 2011, according to purchasing managers’ index (PMI) January 4, 2017 Economic activity in Eurozone industry in December expanded at the fastest pace since the depths of the currency union’s debt crisis, according to a closely watched indicator. The Eurozone composite purchasing managers’ index (PMI) – which measures activity throughout the economy – was upgraded significantly to 54.4, after a flash reading of 53.9, despite activity [...]
The FTSE 100 has reached another record high January 3, 2017 The FTSE 100 smashed a new record as investors returned to their desks after the New Year break. London’s blue chip index briefly broke through the 7,200 points mark before paring to just below 7,180 points at the close – yet another record-breaking measure. It recorded a rise of over 60 points on Tuesday to peak at [...]
US manufacturers in rude health as purchasing managers’ index shows strongest sector since 2014 January 3, 2017 US manufacturing conditions smashed expectations in December, according to an important indicator, as data continue to show an economy in rude health ahead of the Presidency of Donald Trump. The manufacturing purchasing managers’ index increased slightly to 54.7 in December, an increase of 1.5 percentage points since November, according to the Institute of Supply Management [...]
Germany’s inflation soars to highest since 2013 while France posts steady increase January 3, 2017 Inflation in Germany more than doubled in December 2016 while France also posted an increase, in a sign of further economic recovery in the Eurozone which will be welcomed by the European Central Bank (ECB). German consumer prices soared by 0.7 per cent compared to November, bringing the annual rate of increase to 1.7 per [...]
China’s manufacturers’ confidence sends PMI to almost four-year high, boosting Asian shares January 3, 2017 Confidence in China’s manufacturing sector rose sharply above expectations in December, with the widely followed purchasing managers’ index (PMI) reaching an almost four-year high. Stocks across Asia gained in response to the surprise increase. The Shanghai Stock Exchange Composite Index rose by 1.04 per cent on Tuesday, while the Hang Seng – a measure of [...]
UK manufacturer confidence reaches highest point for two and a half years January 3, 2017 UK manufacturers saw confidence levels reach a 30-month high as output and new orders strengthened, according to a closely watched indicator. The manufacturing purchasing managers’ index (PMI) rose to 56.1 in December, up from 53.6 in November, as the sector ended the year on a high note according to data compiled by IHS Markit. The [...]
British exporters look to Middle East and Asia-Pacific to avoid Brexit uncertainty January 3, 2017 British exporters are turning their gaze to the Middle East and Asia as they look to avoid economic uncertainty and the uncertain trading relationship with Europe, a new survey says. The Asia-Pacific region in particular is set to be targeted, with an 18 per cent balance of UK businesses expecting exports to increase over the [...]
