Japanese exports surged in June but the increase was less than in the previous period. This resulted in speculations about the strength of the recovery. Japan’s finance ministry reported that exports rose by 27.7% to €52 trillion. Nevertheless, analysts stated that exports would continue to lose pace in the next months. The higher rate of the Yen would affect Japan’s exports in the coming months.
British economy grew by 0.3%
The British economy expanded by 0.3% in the first quarter of 2010, according to the most recent official data. The corrected gross domestic product figures match the revised data provided by the Office for National Statistics (ONS) in June. The release of the data concerning the
Read more...Growth Europe’s services and manufacturing industries decelerated
Growth in European services and manufacturing industries lost pace last month. It was the second month of growth deceleration. This second slowdown raises speculations that the recovery is weakening. A combined indicator based on an inquiry of eurozone purchasing managers in both industries dropped from 56.4 in May to 56 in June. Markit Economics revealed these figures today. The reading approaches last month’s forecast.
Read more...China sets highest Yuan rate in five years
Many criticisers claim that China stimulates its exports by keeping the exchange rate of the Yuan low. China has set the rate of the Yuan at the highest levels in five years. Earlier, Beijing stated that it would allow the currency more flexibility. The decision comes after the G20 meeting in Canada last weekend.
Read more...Recovery Irish economy exceeds expectations
The recovery of the Irish economy in the first six months of 2010 has exceeded economists’ forecasts, according to a report by Bloxham Stockbrokers. The independent stockbroker stated that the Irish economy has found its path out of recession. However, the situation remains difficult for the Irish economy.
Read more...Britain’s budget gap to decline more than expected despite weaker growth
The UK budget gap is expected to decline more than the previous estimations showed. The economy expands less than the preceding government predictions. These latest forecasts are provided by the Office for Budget Responsibility (OBR). Britain’s budget deficit declines from €187 billion this fiscal year to €86 billion in April 2015, the OBR reports. This means a €27 billion improvement in comparison
Read more...German factory orders rose in April
German factory orders rose in April for the second month. This unexpected rise was the result of the weaker Eurozone currency, which stimulated exports and boosted investments. Factory orders, corrected for seasonal variation and inflation, jumped 2.8% in April. The previous month showed a 5.1% rise, according to the German Economy Ministry. Economists expected a 0.4% decline. In comparison to the same period in 2009, orders rose 29.6%.
Read more...British economy grew faster than estimated
The British economy expanded slightly faster in the first quarter of this year than the previous estimations, according to figures by the Office for National Statistics (ONS).
The UK economy expanded by a revised 0.3% in the first three months of 2010. Initially estimations pointed to a 0.2% growth. A considerable revival in business services and industrial production boosted economic growth. On a yearly basis, the British economy shrank by 0.2%. Previous estimations indicated a 0.3% shrink.
Rising inflation and weak Euro affect trade
The cross-border trade by Northern Ireland retailers is likely to decrease. This is the result of increasing inflation in the United Kingdom and due to the declining Euro. Inflation in the UK reached the highest level since November 2008 last month. This was caused by increasing food costs and budget tax increases.
Read more...British trade deficit increases in March
The British trade deficit with the other countries in the world increased strongly in March, the Office for National Statistics (ONS) revealed.
The deficit widened to €4.02 billion in March in comparison to €2.39 billion in the previous month.
Read more...The deficit widened to €4.02 billion in March in comparison to €2.39 billion in the previous month.
Kiwi Dollar up on increased risk-taking – Euro hit by doubts about Greek aid package
The Kiwi Dollar gained this Monday versus the key currencies. The expectation that Greece receives this €110 billion rescue package boosted risk-taking among investors. They preferred higher-return trading options like the New Zealand Dollar. Europe’s Single Common Currency faced the opposite scenario and dropped due to the uncertainty with relation to the Greek aid package.
Read more...Japanese interest rates unchanged - Central bank controls Swissie’s appreciation
The Bank of Japan has held its key interest rate close to zero today. It announced that it would increase measures to strengthen the Japanese economy. The eight-member policy board of Japan’s central bank unanimously agreed to keep its overnight call rate target at 0.1%. The last interest rate adjustment took place in December 2008.
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