German confidence falls as Eurozone crisis bites September 20, 2011 THE GERMAN economy is set to worsen, if the indicator of economic sentiment published yesterday by the Centre for European Economic Research is correct. Sentiment dropped 5.7 per cent in September compared with August. That is the seventh consecutive monthly fall in the Zew index, and takes it to -43.3 points, a level last seen [...]
STAY TOUGH ON DEFICITS, SAYS TRICHET September 20, 2011 EUROPEAN Central Bank boss Jean-Claude Trichet is pushing countries to cut their deficits to combat the crisis battering the Eurozone. “All governments must apply in their entirety the decisions we adopted in Brussels on 21 July ,” he told Spanish media. He also praised Spanish banks for shoring up their balance sheets, and said their [...]
Volatility in Italian industry September 20, 2011 Industrial orders increased in Italy in July, but not enough to offset the decline in June. The seasonally adjusted figures – released yesterday by Italy’s official statistics body Istat – show growth of 1.8 per cent month-on-month in July. Within that, domestic orders increase by 0.3 per cent while non-domestic order rose by 4.6 per [...]
More info needed on house sales September 20, 2011 Energy efficiency ratings are studied by housebuyers, and sustainability information should be treated in the same way according to the Royal Institute of Chartered Surveyors (RICS). Environmental factors including energy, waste, water and flooding should be considered, the group said. Similarly, social issues like accessibility, health and wellbeing impact on housebuyers’ requirements but are not [...]
Canadian wholesale trade grows September 20, 2011 Wholesale trade grew by 0.8 per cent in July from June, helped by strong business investment in machinery and equipment, Statistics Canada announced yesterday. After removing the effects of the currency’s appreciation against the US dollar, which lowered prices for imported goods sold by wholesalers, sales rose by 1.5 per cent. However, the agency revised [...]
Productivity weak in UK as US holds lead September 20, 2011 PRODUCTIVITY in the UK is weak and economic freedom is in decline, according to figures released yesterday by the Office for National Statistics (ONS) and the Fraser Institute respectively. Of the G7 rich democracies, only Japan’s workers produced less each than the UK’s in 2010. On an hourly basis British workers perform slightly better, beating [...]
German PPI down last month September 20, 2011 Falling prices have hit Germany’s producers for the first time since December 2009, the Federal Statistics Office announced yesterday. The Producer Price Index (PPI) fell by 0.3 per cent, month-on-month, in August. That compares with a 0.7 per cent increase in the month before. Prices are up on an annual basis, rising by 5.5 per [...]
Brazilian inflation up again September 20, 2011 Consumer prices rose more than expected in Brazil in the month to mid-September. The benchmark price index rose 0.53 per cent, the national statistics agency said yesterday, led by rising food prices. That was faster than the 0.27 per cent rise in August. Analysts warned that the uptick in prices underscored the riskiness of the [...]
Asian demand boosts Oz output September 20, 2011 Australia lifted its projections for iron ore output and exports yesterday, defying concerns over the global economy as Asian demand roars along. Exports are expected to hit 449m tonnes next financial year. That is an increase of three per cent on earlier predictions, according to a report from the Bureau of Resources and Energy.
BEST OF THE BROKERS September 20, 2011 ANGLO AMERICAN Citi rates the mining group as “buy/medium risk” with a target price of £35, saying that pressure put on its shares by global economic concerns have left it attracitvely priced. The broker says near-term production growth should drive cash flow over the next two years. However, it has also reduced its earnings forecasts by [...]
