International Economic
US services activity expands at fastest pace since Covid reopening, S&P says
Services sector activity in the States picked up to its quickest pace since the economy reopened after Covid, the results of a closely followed survey showed.
Manufacturing recession sees German economy contract further
Germany’s economy continued to contract in December, marking the sixth consecutive month of declining business activity, according to the latest HCOB flash purchasing managers’ index (PMI).
China November data shows mixed results as retail sales fall
China economic data for November was mixed, with industrial production expanding but retail sales growth missing expectations.
Bundesbank slashes GDP forecasts, warns on impact of trade war
The German economy will shrink this year and stagnate over the course of 2025, said Bundesbank President Joachim Nagel, adding that a potential trade war with the US could hit GDP even more.
US import prices edge up in November as energy costs bounce back
US import prices rose more or less as expected last month on the back of dearer energy.
EZ industrial production stagnates in October
Eurozone industrial production was flat in October on a monthly basis, according to preliminary data published on Friday.
German exports fall by more than expected 2.8% in October
German exports in October fell by a more-than-expected 2. 8% and imports dropped 0. 1% month on month on a seasonally adjusted basis, according to official data published on Friday.
Structural changes needed in Germany if economy is to recover, says Ifo
The Germany economy has been "treading water" for the past five years, according to the research firm the Ifo Institute, which predicted a contraction in GDP in 2024, followed by minimal growth over the next two years.
US producer prices rise 0.4pc in November
The US producer price index rose 3% on an annualised basis and 0. 4% month-on-month in November, according to the Bureau of Labor Statistics, stronger than expectations.
US jobless claims unexpectedly rise to 242,000
Americans lined up for unemployment benefits at an accelerated pace in the week ended 7 December, according to the Department of Labor.
ECB cuts rates by 25 basis points, as expected
The European Central Bank cut interest rates on Thursday by 25 basis points, as expected, to 3%.
Switzerland cuts interest rates more than expected
Switzerland's central bank has slashed its benchmark interest rate by more than expected amid a strengthening franc and tepid economic growth with inflation running lower than expected.
Global oil supply to 'comfortably' meet demand in 2025 - IEA
Global oil supply is likely to "comfortably" meet demand next year, a leading energy body predicted on Thursday, even after Opec voted to delay planned output increases.
US headline CPI picks up slightly in November
The cost of living in the States picked up slightly last month as food and vehicles became dearer, although increases in shelter prices eased.
US mortgage applications rise 5.4pc
US mortgage applications rose by 5. 4% in the week ended 6 December, according to the Mortgage Bankers Association of America, up from the prior week's 2. 8% increase.
Estimates of US labour cost growth revised lower
Labour cost growth in the States over the half year ending in September undershot economists' forecasts, likely signalling that a further reduction in inflation was on the cards.
US election results drive small business optimism to three-year high
A survey measuring optimism among small businesses in the United States smashed expectations on Tuesday, jumping to its highest level in more than three years, as confidence among corporations surged in the aftermath of the presidential elections.
China exports/imports fall in November
Trade data from China showed a fall in exports and imports last month, in a worrying sign for policy makers ahead of threatened tariffs from the incoming administration of US President-elect Donald Trump.
German inflation confirmed at 2.2% in November
German inflation was confirmed at 2. 2% in November, the federal statistics office said on Tuesday.
RBA's dovish tilt raises bets on rate cut next year
The Reserve Bank of Australia on Tuesday held rates steady but raised hopes that there could be a cut on the way after policy makers said they had gained "some confidence" that inflation was heading back to target.