Confidence among UK companies has decreased due to planned tax hikes and the looming expenditure review, according to ICAEW and Grant Thornton. Companies posted improved profit and turnover figures in the second quarter. They expect to increase capital investments and to raise research and development budgets in the next twelve months.
US consumer prices up on increased energy prices
The US government revealed that the consumer price index (CPI) surged last month due to increased energy prices. Month-over-month, prices rose for the first time in four months. The key index of consumer prices increased 1.2% over the past year, boosted by a 5.2% rise in
Read more...Germany’s exports continue to increase in June
German exports surged in June faster than previously thought. This is another evidence that the German economy is recovering. Exports rose by 3.8% in contrast to May and surged 29% in the yearly comparison, the Federal Statistical Office of Germany reported. Investors forecast that the strong data indicate that the German economy expanded at
Read more...UK manufacturing output expands, euro area crisis affect exports
UK manufacturing output expanded last month, while the euro area woes affected exports. The Markit/ Chartered Institute of Purchasing and Supply (CIPS) manufacturing PMI dropped to 57.3 in July from 57.6 in the previous month. This reading exceeds expectations of 57 and approaches the highest level in 15 years, posted last May. Nevertheless, exports orders dropped to 50.8 from 51.8. Some market watchers fear that this is an alarming trend and could mean that export growth has slowed down.
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