- — China’s services sector activity slows in Sept – official PMI
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at 9/30/22 3:00pmChinas services activity expanded at a slower pace in September, an official survey showed on Friday, as COVID-19 curbs in populous cities weighed on consumption. The official non-manufacturing purchasing managers index (PMI) dropped to 50.6 in September from 52.6 in August, data from the National Bureau of Statistics showed. A reading above the 50-point mark ...- — Mester: Fed will watch growth concerns after clear progress on inflation
- at 9/30/22 3:00pmFed officials at some point will begin balancing concerns about growth against their inflation goals, but not until inflation is clearly heading back towards its 2% target, Cleveland Fed President Loretta Mester said. At this point price stability is still job one. We have to get that out of the way, before worrying about the ...
- — U.S. Core PCE rise keeps aggressive Fed scenario in place
- at 9/30/22 3:00pmThe personal consumption expenditures (PCE) price index rose 0.3% last month after dipping 0.1% in July, the U.S. Commerce Department reported on Friday. In the 12 months through August, the PCE price index increased 6.2% after advancing 6.4% in July. Excluding the volatile food and energy components, the PCE price index jumped 0.6% after being ...
- — Turkish trade deficit jumps 160% in August -stats institute
- at 9/30/22 3:00pmTurkeys foreign trade deficit surged 159.9% year-on-year to $11.19 billion in August, with imports surging 40.4%, data from the Turkish Statistical Institute showed on Friday. Imports stood at $32.53 billion, while exports rose 13.1% to $21.34 billion, the data showed. Under an economic programme unveiled last year, Turkey aims to shift to a current account ...
- — Inflation falls in France but pressure is not moderating
- at 9/30/22 3:00pmA fall in inflation expected, but misleading As expected, consumer price growth slowed in September in France to 5.6% from 5.9% in August. The harmonised index, which is important for the European Central Bank, stood at 6.2%, also down from the previous month (6.6%). The fall in the inflation figure is almost entirely due to ...
- — Weaker Global Demand Adds to External Risks for African Sovereigns
- at 9/30/22 3:00pmDeteriorating prospects for global demand in 2023 will add to external risks for many African sovereigns by dampening export prospects, says Fitch Ratings. Nonetheless, risks will vary across our rated portfolio. Fitch now expects global GDP to grow by just 1.7% in 2023, down from our previous forecast of 2.7% in June 2022. Growth in ...
- — European Commission and the European Bank for Reconstruction and Development deepen their partnership to boost private sector investment in partner countries
- at 9/30/22 3:00pmToday, Commissioner for International Partnerships, Jutta Urpilainen, and Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), signed a new Financial Framework Partnership Agreement (FFPA) between the European Commission and the EBRD to boost investment in sustainable infrastructure and private sector development and to cooperate for example on issues such as nuclear ...
- — China central bank makes biggest weekly net cash injection since Jan 2020
- at 9/30/22 3:00pmChinas central bank made the biggest weekly liquidity injection on a net basis through short-term bond instruments in more than 32 months, to counteract higher cash demand at the quarter-end. The Peoples Bank of China (PBOC) injected 186 billion yuan ($26.13 billion) via open market operations on Friday, including 128 billion yuan in seven-day reverse ...
- — Dollar shock threatens global economy
- at 9/30/22 3:00pmRising interest rates and a rapidly appreciating currency are exporting the U.S. inflation problem and threaten to send the rest of the global economy into recession as other central banks are forced to raise their own rates. U.S. overnight interbank interest rates have risen by 300basis points over the last 12 months, the fastest increase ...
- — One-way economy flights from Moscow to Dubai are nearly $5,000 as Russians flee mobilization call
- at 9/30/22 3:00pmOne-way economy flights from Moscow to Dubai are going for as much as $5,000 and many have completely sold out in the days following Russian President Vladimir Putin’s declaration of a “partial” mobilization of 300,000 reservists to fight in Ukraine. The roughly five-hour flight cost around $350 one week before the announcement that was delivered ...
- — German unemployment rises in September as Ukrainian refugees enter system
- at 9/30/22 3:00pmGerman unemployment rose in September, Labour Office figures showed on Friday, as Ukrainian refugees continue to enter the system. The Federal Labour Office said the number of people out of work rose by 14,000 in seasonally adjusted terms to 2.510 million, below expectations by analysts polled by Reuters. Without taking into account people with Ukrainian ...
- — Euro zone inflation hits record high 10%, raising pressure on ECB
- at 9/30/22 3:00pmEuro zone inflation zoomed past forecasts to hit a fresh record high this month, reinforcing expectations for another jumbo interest rate hike from the European Central Bank in October. Price growth in the 19 countries sharing the euro accelerated to 10.0% in September from 9.1% a month earlier, data from Eurostat showed on Friday, beating ...
- — Japan’s data surprises on the upside
- at 9/30/22 3:00pmIndustrial production recorded a third monthly gain in August Industrial production in August rose 2.7% month-on-month seasonally-adjusted (vs 0.8% in July), beating the market consensus of 0.2%. In three-month sequential terms, IP rebounded quite sharply by 4.6% from -2.7% in June, suggesting that quarterly manufacturing growth in GDP is highly likely to turn positive. Machinery ...
- — EU watchdog says banks need $1.2 billion to meet capital rules in full
- at 9/30/22 3:00pmBanks in the European Union will collectively need a further 1.2 billion euros ($1.18 billion) to meet a set of global capital rules in full by 2028, the blocs banking watchdog said. In the latest sign of how well capitalised lenders in the bloc have become in broad terms, the European Banking Authority said on ...
- — UK economy grew in Q2 but was below pre-pandemic size
- at 9/30/22 3:00pmBritains economy grew in the second quarter but was still below its pre-pandemic peak, contrary to earlier estimates that it had recovered, according to official data which also showed the countrys current account deficit was narrower than expected. The Office for National Statistics said economic output rose by 0.2% in April through June, revised up ...
- — China will consolidate economic recovery -state media citing premier
- at 9/30/22 11:00amChina will strive to consolidate its economic recovery as the countrys development faces difficulties and challenges, state media quoted Premier Li Keqiang as saying. The government is confident of keeping economic operations within a reasonable range, Li was quoted as saying at an event celebrating the 73rd anniversary of the founding of the Peoples Republic ...
- — U.S. consumer spending rebounds, but high inflation eroding demand
- at 9/30/22 11:00amU.S. consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing demand, which could limit an anticipated rebound in economic growth in the third quarter. The report from the Commerce Department on Friday also showed underlying inflation pressures building up ...
- — Euro zone unemployment unchanged at record low of 6.6%
- at 9/30/22 11:00amEuro zone unemployment was unchanged at a record low of 6.6% of the workforce in August, the European Unions statistics office Eurostat said on Friday, matching expectations of economists polled by Reuters. Eurostat said that in absolute terms, the number of people without jobs in the 19 countries sharing the euro fell further to 10.966 ...
- — EU watchdog says banks need $1.2 billion to meet capital rules in full
- at 9/30/22 11:00amBanks in the European Union will collectively need a further 1.2 billion euros ($1.18 billion) to meet a set of global capital rules in full by 2028, the blocs banking watchdog said. In the latest sign of how well capitalised lenders in the bloc have become in broad terms, the European Banking Authority said on ...
- — China’s Sept factory activity contracts more sharply as demand slumps – Caixin PMI
- at 9/30/22 11:00amChinas factory activity contracted at a sharper pace in September as strict COVID lockdowns disrupted production and dampened sales, a private sector survey showed on Friday. Weakening global demand for Chinese goods also weighed heavily on the manufacturing sector, with new export orders shrinking at the fastest pace in four months. The Caixin/Markit manufacturing purchasing ...
- — Opinion of China in advanced economies sours ‘precipitously’ under Xi – Pew
- at 9/30/22 7:00amPublic opinion towards China in the United States and other advanced economies has turned precipitously more negative under President Xi Jinping, according to a global survey by the Pew Research Center. Xi, 69, is widely expected to win a precedent-breaking third five-year term as leader at a Communist Party congress that begins in Beijing on ...
As of 10/1/22 1:59pm. Last new 9/30/22 5:34pm.
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