The Eurozone is seeing a no-inflation recovery August 30, 2013 Berenberg's Christian Schulz says that the Eurozone is now witnessing a "no-inflation recovery" on the back of strong confidence numbers released this morning. The Eurozone unemployment rate stayed at 12.1% in July. The stable headline rate conceals a second successive monthly fall in the number of unemployed. Whether that fall can last into the autumn [...]
German retail sales continue their decline August 30, 2013 German retail sales have dropped again, down 1.4 per cent in July after a 0.8 per cent contraction last month (revised up from -1.5 per cent). Economists had predicted an end to the decline and 0.5 per cent growth this month. Total retail sales growth in the year to July now stands at 2.3 per [...]
India may be forced to tighten monetary policy as it faces financial crisis August 21, 2013 As emerging markets including India tank with the rupee hitting record lows against the pound and the dollar, Shweta Singh of Lombard Street Research suggests that expectations of quantitative easing withdrawal are now "baked in". It now looks as if Raghuram Rajan will have a tough start at India's central bank (a stark contrast to [...]
Fruit, veg and tobacco holds Eurozone inflation steady August 16, 2013 The annual rate of inflation in the Eurozone remained steady in July at 1.6 per cent, as analysts had expected. The largest upward pressures came from fruit (up 0.12 percentage points), vegetables (up 0.09 percentage points) and tobacco (up 0.08 percentage points), while the largest downward pressures came from telecommunications (down 0.18), medical and paramedical [...]
Retail sales jump to £7bn per week as UK recovers August 15, 2013 BRITISH retail sales grew at the fastest pace since 2011 in the year to July, official figures showed yesterday, giving further hope that consumer confidence is on the mend. Shoppers spent £7bn in an average week in July, pushing up sales volumes by three per cent on the year, driven by food sales and [...]
US inflation hits Fed target August 15, 2013 The annual rate of inflation in the US hit the Federal Reserve's target in July, rising to 2.0 per cent from 1.8 per cent the month before (release). This came as US jobless claims – a key indicator of future unemployment levels – dropped off unexpectedly, prompting fears of an imminent tapering of the Fed's [...]
Walmart revises down earnings forecast as US comparable sales miss August 15, 2013 Asda owner Walmart has reported same-store sales in the US fell by 0.3 per cent in the second quarter of the year – missing analyst expectations of a one per cent rise (release). Walmart revised down its full-year earnings per share (EPS) expectation to a range of $5.10 to $5.30 from the previous range of [...]
What the analysts are saying about UK retail sales growth August 15, 2013 Source: Capital Economics Earlier this morning, the Office for National Statistics reported that retail sales jumped by 3.0 per cent year-on-year in July, boosted by sunny weather and food sales. For the most part, analysts seemed cautious about getting too excited over the data and prospects for a sustainable recovery. Martin Beck, UK economist [...]
US producer prices increase by less than expected in July August 14, 2013 Prices received for finished goods made by US producers increased by less than expected in July, according to data from the Bureau of Labor Statistics (release). Year-on-year, the producer price index (PPI) rose by 2.1 per cent, down from a 2.5 per cent rise the month and falling short of expectations of 2.4 per cent [...]
Train users set for fare inflation pain next year August 13, 2013 COMMUTERS will be saddled with another above-inflation increase in train fares in January, as rail companies get the go-ahead to hike prices. July’s retail prices index, which is used to determine fares for the next year, came in at 3.1 per cent. Rail companies are allowed to add one per cent above inflation, meaning a [...]