It’s official: German GDP contracted 0.2 per cent in the second quarter September 1, 2014 More bad news for the Eurozone: the German economy contracted during the second quarter of the year, the country's Federal Statistics Office confirmed today. The figures confirmed preliminary estimates, which suggested GDP shrank 0.2 per cent in the second quarter, after 0.7 per cent growth in the first quarter. Compared with the same period in [...]
Confident consumers to drive growth into autumn August 28, 2014 Confidence in the UK economy climbed again this month, with one major index hitting the highest level in nearly a decade, a positive signal for growth in the rest of 2014. GfK’s consumer confidence index rose back into positive territory this month, rising to one – the survey has only risen into positive territory once [...]
European Central Bank hires Blackrock to help with loan purchase programme August 27, 2014 The European Central Bank (ECB) has appointed money managers Blackrock to advise the institution on a plan to buy up loans and help revive the bloc’s financial markets. Blackrock will advise the ECB on an asset-backed securities (ABS) purchase programme, which would be designed to give the stagnant euro economies a boost. However, former ECB [...]
European bond yields fall further after Draghi’s hints at quantitative easing August 27, 2014 European bond yields fell again on Wednesday, as the knock-on effect from a speech by European Central Bank (ECB) president Mario Draghi continued to quell investors' fears over muted growth. Germany's 10-year yield fell to 0.9 per cent in London (and a record 0.91 per cent in New York), while Spanish 10-year yields fell to [...]
UK retail sales see strongest calendar increase in a decade July 24, 2014 Headline retail sales growth in June was markedly softer than expected, according to official estimates released today. Office for National Statistics (ONS) figures saw overall retail sales up by just 0.1 per cent in the month, lower than the 0.3 growth anticipated by an analyst poll. Excluding fuel, retail sales dropped by 0.1 per cent [...]
Mood on the high street hits nine-year high June 26, 2014 CONSUMER confidence in the UK has swelled to the highest levels in nine years, with sentiment continuing to improve as the recovery rolls on, according to a major survey. GfK’s latest survey of consumers, announced this morning, has risen back into positive territory for the first time since 2005, ending almost a decade of negativity. [...]
France set to miss deficit target June 25, 2014 FRANCE’S statistical agency suggested yesterday the economy would grow too slowly to meet the country’s deficit target this year, as German consumer confidence climbed to a post-crisis high. The French agency Insee indicated that the government would likely not meet its growth target – with only a 0.7 per cent boost likely. “With growth clearly [...]
Best optimism rise since 1978 March 28, 2014 UK CONSUMER confidence rose at the joint-fastest pace since the 1970s in the 12 months to March, according to a survey that has been running for four decades. GfK’s index for spenders’ sentiment rose by 22 points between April 2013 and March this year, the joint fastest pace since a 12-month period between July 1977 [...]
Consumer confidence in Italy approaches a three-year high March 26, 2014 ITALIAN consumer confidence jumped to a near three-year high this month, official data revealed yesterday, providing a boost to new Prime Minister Matteo Renzi. Morale on the high street has been sharply improving in many western countries in recent weeks, with strong US surveys sending stocks higher across the pond. And yesterday Italy’s stats office, [...]
German parties agree on grand coalition terms November 27, 2013 GERMAN Chancellor Angela Merkel’s centre-right party yesterday secured a deal with the country’s social democrats for the formation of a new government, after months of negotiations. The deal’s terms include a minimum wage and a lowering of the pension age for workers who have contributed since age 18. However, the centre-left party must first ballot [...]