US business activity slows to three-month low

  • 23/06/2017 14:22 PM
  • Ahmed Mamdouh
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U.S. business activity fell to a three-month low in June, preliminary Purchasing Managers’ Index showed, while new home sales rose more than forecast.Composite PMI of manufacturing and services retreated to 53.0 in June, the lowest level in three months, from 53.6 in May.Manufacturing PMI hit a nine-month low of 52.1, while services’ growth eased from a previous of 53.6 to 53.Another report...

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US current account deficit widens on rise in imports

  • 20/06/2017 13:00 PM
  • Ahmed Mamdouh
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U.S. current account deficit widened in the first quarter of the year on the back of rise in imports, a report from the Commerce Department showed on Tuesday. The shortfall expanded to $116.8 from a revised deficit of $114 billion in the last quarter of 2016. Analysts had estimated a deficit of 124 billion.The first-quarter current account gap constituted 2.5 percent of GDP, rising from 2.4 p...

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What does the fall in US consumer sentiment mean?

  • 16/06/2017 14:32 PM
  • Ahmed Mamdouh
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U.S. consumer sentiment fell to the lowest level since November, reflecting worries about the ability of President Trump to lead the economy during his term.The University of Michigan preliminary sentiment index subtracted 2.6 points to 94.5 in June, marking the largest drop since October. Meanwhile, Americans are concerned that Trump would not able to pass his tax cut and spending plans thro...

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US housing starts, building permits miss projections

  • 16/06/2017 13:34 PM
  • Ahmed Mamdouh
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U.S. housing starts and building permits missed analysts’ projections in May, the Commerce Department data showed Friday. Housing starts slipped to 1.09 million units from a revised of 1.16 million, coming below estimates of 1.23 million. That was the third straight month of decline. Building permits retreated to 1.17 million, the weakest figure since April 2016, down from a prior of 1.23 mil...

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Eurozone CPI inflation confirms 1.4% surge in May

  • 16/06/2017 11:02 AM
  • Ahmed Mamdouh
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Eurozone annual inflation confirmed a 1.4 percent rise in May, according to the final consumer price index released on Friday. CPI for the year through May showed 1.4 percent rise, moving in line with both preliminary and expected readings.Inflation eased from 1.9 percent in April, taking a strong step away from the ECB’s 2 percent goal, where consumer prices dipped 0.1 percent on the monthl...

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US jobless benefits reflect labor market solidness

  • 15/06/2017 12:54 PM
  • Ahmed Mamdouh
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U.S. initial jobless claims dropped more than forecast last week, reflecting the strength of the labor that could encourage the Fed to hike interest rates again before the end of the year. First-time Americans filing applications for jobless benefits edged down by 8,000 to 237,000 in the week ended June 10, the Labor Department report showed Thursday. Analysts had predicted a retreat to 241,0...

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UK retail sales drop more than forecast

  • 15/06/2017 08:52 AM
  • Ahmed Mamdouh
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U.K. retail sales dropped more than forecast in May, as inflation continued to weigh on household spending. Sales volume slumped 1.2 percent last month, following a revised rise of 2.5 percent in April. Analysts had predicted a 0.9 percent fall. The year-on-year reading showed that sales volume was 0.9 percent up, the weakest figure since April 2013. As of 08:48 GMT, the pound tr...

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US consumer prices, retail sales unexpectedly drop

  • 14/06/2017 13:10 PM
  • Ahmed Mamdouh
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U.S. consumer prices and retail sales unexpectedly dropped last month, raising doubts about the path of interest rate hikes this year. The consumer prices index (CPI) showed 0.1 percent fall in May after a 0.2 percent surge in April. Analysts had called for a 0.2 percent increase.  Core CPI recorded a 0.1 percent advance, compared to both prior and expected readings of 0.1 percent and 0.2 per...

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UK wage growth reports lowest increase since Feb 2016

  • 14/06/2017 08:45 AM
  • Ahmed Mamdouh
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U.K. wage growth in the quarter through April reported the lowest soar since February 2016, while unemployment remained at the lowest level in 42 years. Wage growth, including bonus, soared to an annual 1.7 percent in the quarter through April, easing from a previous of 2.1 percent.  Unemployment rate stood at 4.6 percent during the same period, remaining the lowest level since 1975, moving in...

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US producer prices unchanged in May

  • 13/06/2017 13:02 PM
  • Ahmed Mamdouh
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U.S. producer prices were flat in May, moving in line with analysts’ forecasts, a report from the Labor Department released on Tuesday showed.  The producer price index (PPI) was unchanged last month, following a 0.5 percent surge in April, as the increase in prices of services was outweighed by a drop in fuel prices. Core PPI also saw a 0.3 percent advance, compared to both prior and expecte...

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German investor confidence soars less than forecasts

  • 13/06/2017 09:21 AM
  • Ahmed Mamdouh
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Germany’s investor confidence climbed less than forecast in June, providing hopes after the release of disappointing German growth data earlier today.The ZEW Center for European Economic Research said its index of investor and analyst expectations edged up to 18.6 from 20.6 in May. Analysts had predicted a rise to 21.6.ZEW economic sentiment for the euro area surged to 37.7 from the previous...

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UK inflation climbs to four-year high in May

  • 13/06/2017 08:48 AM
  • Ahmed Mamdouh
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UK inflation rose to the most in four years in May on rise on food, energy and recreational costs, data from the Office for National Statistics showed Tuesday. Consumer price index for the year ended May leaped to 2.9 percent, the highest record since September 2013, from both prior and predicted readings of 2.7 percent. The Core CPI reading posted 2.6 percent advance, accelerating from 2.4 p...

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UK manufacturing production rise less than forecast

  • 09/06/2017 09:45 AM
  • Ahmed Mamdouh
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U.K. manufacturing production rose less than forecast in April, raising concerns about the pace of growth with the beginning of the second quarter. Manufacturing production soared 0.2 from March, missing forecasts of 0.8 percent increase, and industrial production edged up 0.2 percent in April, following a 0.5 percent plunge in March. For the quarter ended April, manufacturing output fell 0.7...

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Euro area inflation slows more than projection

  • 31/05/2017 09:43 AM
  • Ahmed Mamdouh
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Euro-area inflation retreated more than forecast in May on drop in energy prices, the flash consumer price index data showed Wednesday. CPI rose 1.4 percent in the year ended May, down from 1.9 percent in April, coming below analysts’ forecasts of 1.5 percent. Core CPI, which excludes volatile items such as energy, showed 0.9 percent rise, compared to both prior and predicted readings of 1.2...

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US consumer confidence unexpectedly drops

  • 30/05/2017 14:15 PM
  • Ahmed Mamdouh
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Data released on Tuesday showed that U.S. consumer confidence unexpectedly dropped in May.Consumer confidence scored 117.9 in May from a revised of 119.4 in April, compared to forecasts of 120.1. The dollar index retreated to trade at 97.25, snapping its earlier gains when it hit a peak of 97.31, as of 14:13 GMT.

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US consumer spending reports biggest increase in four months

  • 30/05/2017 12:49 PM
  • Ahmed Mamdouh
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U.S. consumer spending reported the biggest rise in four months in April, data from the Commerce Department showed on Tuesday.  Consumer spending soared 0.4 percent in April, while in March’s reading was revised to 0.3 percent. That came in line with analysts’ projections.Personal income for the same month also showed 0.4 percent gain, compared to the prior reading of 0.2 percent.The Core PC...

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France growth revised up as economic momentum continues

  • 30/05/2017 11:09 AM
  • Ahmed Mamdouh
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The French economy grew more than expected in the first three months of the year, data from the national statistics office Insee showed.  The euro-area’s second largest economy expanded 0.4 percent, up from a preliminary of 0.3 percent, providing good news for the newly elected President Emmanuel Macron.Latest reports show the economic momentum will continue as the economy resume recovery. Co...

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Japan’s inflation rises, yet remains far from BOJ target

  • 26/05/2017 09:22 AM
  • Ahmed Mamdouh
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Japan’s inflation edged up for a fourth consecutive month in April, yet the rate remains far from the Bank of Japan’s 2 percent target. In the year through April, consumer prices, without fresh food, soared 0.3 percent in April, marking the fastest pace since April 2015. The boost came from the increase in energy prices, which climbed 4.5 percent in April. Tokyo’s consumer price index for t...

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US initial jobless benefits rise slightly

  • 25/05/2017 13:18 PM
  • Ahmed Mamdouh
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U.S. initial jobless claims rose slightly last week, yet the four-week average dropped to a record low. First-time Americans filing applications for jobless benefits edged up by 1,000 to 234,000 in the week ended May 20, the Labor Department report showed Thursday. Analysts had predicted a rise to 238,000. The less volatile four-week moving average fell by 5,750 to 235,250 last week, the lowe...

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Japan’s exports rise for fifth consecutive month

  • 22/05/2017 09:17 AM
  • Ahmed Mamdouh
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Japan’s exports rose for a fifth consecutive month in March, amid improvement in global demand, where imports also rose more than predicted. From a year ago, Japan’s overseas sales advanced 7.5 percent in April, where it continue to lead Japan’s growth, starting the second quarter in a good shape. Imports advanced 15.1 percent, the strongest gain in more than three years. Accordingly, the tr...

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