US manufacturing shows dramatic signs of weakening July 23, 2013 The US Richmond Fed manufacturing index has plunged from 8 to -11 in July, implying that the picture for sector is much darker. Analysts had predicted a slight fall to just 7.
US house price growth accelerates in May July 23, 2013 US house prices have risen by 0.7 per cent in May, according to the FHFA. That's an acceleration from last month's 0.5 per cent rise (revised down from 0.7 per cent), but falls short of the 0.8 per cent growth expected.
US bellwether UPS meets earnings estimates July 23, 2013 US delivery company the United Parcel Service has posted results for the second quarter with earnings meeting analyst estimates, making $1.13 a share, down from $1.15 a share last year. Total revenues were up 1.2 per cent to $13.51bn despite customers switching to slower and cheaper services for international routes. The firm is often seen [...]
Irish house prices see their first annual rise since January 2008 July 23, 2013 The battered Irish economy has seen large rises in house prices today, with a surge of 1.2 per cent in the month of June after growth of 0.3 per cent last month. This marks the first annual rise in Irish house prices since January 2008, with prices in Dublin increasing 4.2 per cent over the [...]
Spanish recession moderates as GDP shrinks by 0.1 per cent in the second quarter July 23, 2013 The Bank of Spain has announced that GDP shrunk by 0.1 per cent in the second quarter, from a 0.5 per cent downturn in the first quarter. Strong exports drove he moderation of recession, adding 0.4 percentage points to GDP growth. The central bank now sees annual GDP growth of -1.8 per cent in the [...]
Carpetright like-for-like sales drop 1.9 per cent in the first half as Netherlands remains tough July 23, 2013 Retailer Carpetright has seen like-for-like sales drop by 1.9 per cent in the first half of the year, with total sales in the UK down by 3.3 per cent (release). Like-for-like sales in the Rest of Europe (Netherlands, Belgium and the Republic of Ireland) decreased by 10.6%. Total sales declined by 10.9%. After the impact [...]
French business climate better in July with signs of cyclical improvement July 23, 2013 (Source: INSEE) New data shows that French business climate has improved from 93 to 95 in July, beating expectations of a rise to 94. The turning point indicator swings to the favorable area, indicating a cyclical improvement. While export order books decreased slightly, total order books improved. Nevertheless, global and export order books are still [...]
Before the open – 23/07 July 23, 2013 Asian markets have performed well overnight as hints of Chinese easing have given traders confidence in equities. Now we're expecting that exuberance to translate into some mild gains for the FTSE and other European markets. Good morning – looking ahead to the open here are the forecasts for indices: FTSE100 +15 at 6638; DAX +20 [...]
Any Other Business – 23/07 July 22, 2013 Can you grind faster than the rest of the Square Mile? The Capitalist is, of course, talking about the physically demanding process of reeling in the sheets when hoisting the sail on a yacht. Aberdeen Asset Management, sponsor of Cowes week, is challenging pairs of City workers to take part in a grinding contest at [...]
Typical US house prices up 13.5 per cent from a year ago to £140,000 July 22, 2013 Some ugly numbers in the form of existing US home sales for June. Rather than rising from 5.18m to 5.26m, they've dropped to 5.08m. And last month's 5.18m figure has been revised down to 5.14m. That puts the monthly change at -1.2 per cent, rather than the 0.5 per cent improvement forecast. Total inventory has [...]
