Traders are expecting something huge from the ECB tomorrow. Here’s what might happen June 4, 2014 Last month, European Central Bank president Mario Draghi uttered one line that has traders convinced that we're in for something big this Thursday. Members of the ECB's governing council were "comfortable with acting next time", said Draghi. And you might not think it, but for central bank watchers, that language is refreshingly clear. So it [...]
Private sector figures suggest this week’s US job report could be a huge disappointment June 4, 2014 This week's US jobs numbers could be very disappointing, if this indicator is anything to go by. The economic calendar is dominated by a couple of events this week, one of which is Friday's US jobs report. Nonfarm payrolls are expected to show that the US economy added 218,000 jobs in May, down from the [...]
Employment returning to long-term average as statisticians weigh in on slack scrap June 4, 2014 Debates about the degree of spare capacity in the UK's economy have worked their way out of Threadneedle Street. The statisticians at the Office for National Statistics have got stuck into the scrap, as part of their June 2014 Economic Review. Those over at the ONS recognise that spare capacity, or the slack in the [...]
Wolfson Prize’s five shortlisted entries revealed June 4, 2014 The 2014 Wolfson Economics Prize, a competition seeking the best ideas on how to deliver a new garden city, has unveiled its five finalists. The organisers of the prize say that while the ideas shortlisted vary significantly, they all "provide valuable ideas about how best to deliver a new garden city which is visionary, economically [...]
Services growth beats analyst expectations as sector stays strong June 4, 2014 Service growth remains incredibly strong in the UK, with new survey data revealing that the pace of growth has moderated by a shade. Markit's service sector purchasing managers' index has dropped from 58.7 to 58.6 in May, a fall well short of the drop to 58.2 that analysts had been expecting. Any number above 50 [...]
Russia heading back to recession as Ukraine turmoil hits business June 4, 2014 Russian private sector output has fallen at its fastest rate in five years, according to survey data released today, prompting some to suggest that the country is yet again facing recession. The HSBC purchasing managers' index, compiled by Markit, sees the Russian headline output index fall to a five year low of 47.1 in May. [...]
Would you pay £737 a month for this tiny flat? June 3, 2014 For the dazzling price of £737 a month, you can pick up this studio flat on Kember Street. First listed just over 12 hours ago, it still seems to be very much on the market. The marketing agency refers to the apartment as "fully self contained with its own en-suite bathroom and kitchenette". The property [...]
Domestic acquisitions fall to lowest level since records began June 3, 2014 UK acquisitions of other UK companies worth £1m or more fell sharply in the first three months of this year, according to Office for National Statistics data. Just 26 of these domestic acquisitions took place in the first quarter of the year, down from 59 in the last quarter of 2013. This is the lowest [...]
Eurozone inflation is even weaker than we expected and it’s got the ECB scared June 3, 2014 Today brings the week's most important data point. Annual Eurozone inflation is in – and it's even weaker than economists had forecast. Prices rose by just 0.5 per cent in the year to May, according to Eurostat's flash estimate, far weaker than the 0.6 expected and the 0.7 per cent CPI reported in the year [...]
Construction sector growth slides to October low June 3, 2014 The construction sector is slowing down, but only by a little. A Markit survey has found that the sector is now growing as slowly as it was back in October. The headline purchasing managers' index for the sector has slid from 60.8 to 60, while analysts had expected to see a small increase to 61. [...]
