US manufacturing growing at fastest pace for four months August 1, 2013 US manufacturing is growing faster according to Markit. Their purchasing manager's index figure has come in hot at 53.7. The consensus forecast was for a PMI of 53.1. Any number above 50 implies that manufacturing is expanding, so this higher figure suggests the sector is growing even more rapdily. Now we wait for ISM manufacturing [...]
US jobless claims fall to lowest level since January 2008 August 1, 2013 US initial jobless claims have fallen from 343,000 to 326,000 n the week of 26 July. Analysts had forecast a rise to 346,000. Continuing claims down from 2.997m to 3.2.951. Economists predicted an increase to 3.000m. This follows good jobs data in the former of lower corporate jobs cuts and higher private sector employment. Looking [...]
European Central Bank holds rates ahead of press conference August 1, 2013 The Governing Council of the ECB has decided to hold interest rates. The rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.50 per cent, 1.00 per cent and 0.00 per cent respectively.
Bank of England holds QE and rates ahead of inflation report August 1, 2013 The Bank of England's Monetary Policy Committee (MPC) has voted to hold asset purchases and interest rates, as expected. That's given the pound a boost against sterling, the second today after the good manufacturing data released earlier. No change was expected as the MPC awaits the inflation report which is due to be released on [...]
Time Warner beats on earnings and revenues as demand rises for high-speed services August 1, 2013 Media giant Time Warner has beaten analyst expectations, with adjusted earnings per share at $1.69 ($1.64 estimated) and revenues of $5.6bn ($5.58bn estimated) (release). The company said that total revenues grew by 2.7 per cent over the year, driven by growth of 21.8 per cent in business service revenue and 12.5 per cent in residential [...]
Regulator closes investigation into KPMG auditing of BAE August 1, 2013 The investigation into the conduct of KPMG as an auditor of British Aerospace/BAE is over. Launched in 2010, the Accountancy and Actuarial Discipline Board (AADB) was investigating the audits and professional services adviced provided during the period 1997 to 2007. Subsequent investigations have shown that proper assessment of KPMG’s conduct would require consideration of work [...]
UK manufacturing is growing at its fastest since March 2011 August 1, 2013 New figures show that the UK's manufacturing sector is growing at its fastest rate since March 2011, as Markit's purchasing manager's index (PMI) rises to 54.6. That's well ahead of expectations of a rise from 52.5 to 52.8. The pound rose sharply by nearly a cent against the dollar to more than $1.52 on the [...]
Eurozone Manufacturing Round-up: Expanding at fastest rate in two years August 1, 2013 Purchasing manager's index (PMI) paints a brighter picture for Eurozone manufacturing in July. The sector is seen to be expanding, and the only big economy to miss estimates is France. Rob Dobson, senior economist at Markit said: Eurozone manufacturing made a positive start to the third quarter, with welcome signs of growth returning to the [...]
German manufacturing is back to growth August 1, 2013 German manufacturing is looking good, as Markit's purchasing manager's index comes in at 50.7 for the sector. Any number above 50 implies that the sector is expanding. Analysts had forecast expansion, but this beats those estimates. They had predicted a rise from 48.6 to 50.3. Growth will be wafer-thin though with Germany leading the charge [...]
French manufacturing sector misses expectations in July August 1, 2013 The French manufacturing sector has just missed expectations in July, as Markit's purchasing manager's index came in at just 49.7 from 48.4 last month. Analysts had been forecasting a rise to 49.8. The good news is that French manufacturing output has risen for the first time in 17 months. France Manu #PMI charted against INSEE [...]
