Retail sales were flat last month in the U.K., limiting the boost to wider economic growth at the start of the year. Total sales volumes were no higher in March than in February, according to figures released Friday by the Office for National Statistics. This was a weaker reading than had been forecast, with economists polled by The Wall Street Journal expecting sales to climb 0.3% on month. February's total was revised slightly higher, however. For the quarter as a whole, sales were 1.9% higher than in the previous three months, which were marked by a disappointing Christmas sales season....
Business sentiment in Germany weakened even further in September, the fifth consecutive month of decline, with the economic outlook remaining bleak in Europe's largest economy, according to a survey of companies. The Ifo business-climate index declined slightly to 85.7 in September from a revised 85.8 in August, data from the Ifo Institute showed Monday. The reading, however, was better than expectations of a decline to 85.0 by economists polled by The Wall Street Journal. "The German economy is treading water," Clemens Fuest, president of Ifo, said. The services sector worsened for the...
US business activity stagnated in early September, driven by a further moderation in demand at service providers. The S&P Global flash composite output index decreased 0.1 point to 50.1 in September, the lowest level since early this year, the group reported Friday. A reading of 50 demarcates the line between expansion and contraction. While the manufacturing sector shrank at a slower rate, business activity at service providers crept even closer to stagnation — at 50.2. New orders and expectations of future activity both slumped to the worst this year. "PMI data for...
The euro zone economy will likely contract in the third quarter and won't return to growth anytime soon, a survey showed, even though a downturn in the bloc's business activity eased slightly in September. HCOB's flash euro zone Composite Purchasing Managers' Index (PMI), compiled by S&P Global and seen as a good gauge of overall economic health, rose to 47.1 in September from August's 33-month low of 46.7. While that was still below the 50 mark separating growth from contraction it beat expectations in a Reuters poll for a slight dip to 46.5. September's fall in overall activity came...
German business activity fell for the third consecutive month in September due to a sustained decline in demand for goods and services, pointing to a "deep" economic contraction in the quarter, a preliminary survey showed on Friday. The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 46.2 in September from August's 44.6, but came in below the 47.2 forecasts by economists. The indicator was below the 50 level, pointing to a contraction in business activity. The composite PMI index tracks the services and manufacturing sectors, which...
France's dominant services sector contracted at an even sharper pace in September, a monthly survey showed on Friday, as falls in demand and new orders weighed on the euro zone's second-biggest economy. The HCOB France flash purchasing managers index (PMI) for the services sector, compiled by S&P Global, fell to a 34-month low of 43.9 points in September from a final 46.0 in August and well below a Reuters forecast of an unchanged level. That is the lowest since the 38.0 points recorded in November 2020, when France was in the midst of its second COVID-19 induced lockdown. September is...
Asia-Pacific markets tumbled after U.S. inflation for March came in hotter than expected, stoking worries that the Federal Reserve may keep interest rates higher for longer.
U.S. consumer price...
Stocks tanked on Wednesday after March inflation data came in hotter than expected, likely pushing off interest rate cuts by the Federal Reserve that investors have been anticipating.
Investor...
U.K. consumer prices accelerated well beyond the Bank of England's target for a second month, propelled by the global disruption in supply chains that pushed up transport costs.
Consumer prices...
Australian inflation eased from 33-year highs in the first quarter as the cost of living saw the smallest rise in more than a year, while core inflation dipped below forecasts suggesting less...