News and Reviews European Economic Zone

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News and Review of European Economic Zone (UK)

 

BoE Carney: Closer rate hike

Thursday, September 25, 2014

 

Bank of England Governor, Mark Carney signaled that the Bank of England are getting closer to a rate hike cycle although there is evidence of an economic slowdown in the euro zone, but the increase in the loan interest rate is likely to occur gradually and slowly.

 

Mr. Carney also guarantee a wide range of professionals in Wales that the timing of the first rate hike of 0.5% BoE current will depend on the performance of the economy, such as the rate of wage growth.

 

This comment once dismissed investor concerns about the outlook for the economy of neighboring countries in the Eurozone, where the ECB pressured to issue a new policy in order to stimulate economic growth through an aggressive program like QE. If QE in the euro zone disbursed the Euro currency may weaken and injure the rate of UK exports and jeopardize the pace of recovery.

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News and Review of European Economic Zone (UK)

 

The level of UK Retail Sales Growth Slows

Thursday, September 25, 2014

 

The level of UK retail sales grow at a slightly slower pace this month when compared with August, according to a survey results on Tuesday that showed optimism for sales at retailers next month faded. Survey of retail sales figures by the Confederation of British Industry fell to +31 in September, less than analysts' estimates according to the results at +30, from high levels in August at +37. Expectations for the level of sales in October dropped to +26, the lowest level in 3 months.

 

"Solid growth continues on a large street, with a number of sectors have good business and department stores performing well," said Rain Newton-Smith, Directore economy in the CBI. "However, the pace of growth in the sector of daily necessities lag significantly compared to the previous survey."

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News and Review of European Economic Zone

 

Euro Still Potential Slumps Below 1.2000

Thursday, September 25, 2014

 

The strengthening dollar against major currencies, dovish ECB official comments in the direction of monetary policy re-weighed euro currency performance on Thursday, where the pairing EURUSD fell to its lowest point in the last 2 years.

 

So far the pairing EURUSD plunged -0.42% to a level of 1.2726, after reaching the highest point at 1.2782 intraday and daily lows at 1.2697.

 

Market participants do sell-off after the Euro zone business activity of weak combined dovish comments from ECB President Mario Draghi yesterday that the central bank is still likely to use monetary policy as other unconventional quantitative easing to address the threat of deflation and weak growth. Various analysts also predicted the Euro would still be in a downtrend as the future stream of stimulus will be applied in the monetary policy, the potential still merotos EURUSD to 1.1700 in the next 6 months.

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News and Review of European Economic Zone (Germany)

 

GfK: German Consumer Confidence Down In October

Friday, September 26, 2014

 

The level of consumer confidence in Germany is estimated to deteriorate for the second consecutive month in October, at the show in a survey released on Friday, it is an indication that the crisis in Russia, Ukraine and in all places have made the country with the largest economy in Europe the victim in the level of business and consumer confidence.

 

Monthly survey undertaken by market analyst group GfK showed that consumer confidence dropped to 8.3 for the month Okotber of 8.6 in September. Although the results are down, the level of trust is still "at a good level," said GfK.

 

Although the German economic data lately weakened, however, the German unemployment rate is still near record lows, rising incomes and the cost of borrowing at a record low.

 

GfK uses survey data from this month to get the figure for the next month. Economists surveyed by The Wall Street Journal previously predicted for the reading level of 8.5 for the month of October.

 

"This is all caused by the international crisis is behind the slowdown in the consumer climate and the first signs of the start of the uncertainty in the show among consumers in Germany," GfK said, they added that if esklasi rise further, it may cause semakinnya deteriorating conditions in Germany.

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News and Review of European Economic Zone (UK)

 

Hometrack: House prices in England and Wales Stagnant

Friday, September 26, 2014

 

The selling price of homes in England and Wales flat in September for the first time dalam19 months, according to a survey on Friday that showed a slight decline in house prices in London. Hometrack said house prices stagnated in September for the first time since January 2013, after scoring increase respectively by 0.1% in the previous two months. London is the only region which scored a decrease of 0.1% padaharga house with a number of districts in London are reporting rising house prices are less than 1%.

 

The survey is the latest signal that the UK housing market has eased after the rate of house price growth strong in the first half of this year, partly depressed by more stringent checks on mortgage applications and selling more properties on the market.

"While the slowdown is partly due to seasonal factors, including the impact of slowing slightly in August, it was clear that the real estate agents worried about the direction of the market due to weak demand and sales volume," said Richard Donnell, director of research at Hometrack. He said speculation about a rate hike by the Bank of England, warning about the bubble in home prices and a referendum on Scottish independence this month may have triggered uncertainty in the market.

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News and Review of European Economic Zone

 

ECB Coeure Estimate Increase Demand on TLTRO Next

Friday, September 26, 2014

 

Members of the Executive Board of the European Central Bank's Benoit Coeure on Friday said that ECB officials estimate the increase in interest in the upcoming TLTRO program with increasing levels of demand for credit. "Today, we see that the signal level of demand for credit increases, and it is important that the level of demand for the new arrivals are not hampered by constraints on credit supply," said Coeure. Coeure expressed optimism that the policy of the ECB will facilitate the provision of credit in the future.

 

"Targeted Long-Term Refinancing Operations (TLTRO) has its own incentive mechanism to encourage lending to companies and households, and we expect an increase in the level of demand for TLTRO this December and at six the next stage until June 2016," said Coeure said. Making a loan of 82.6 billion euros in the first TLTRO last week were far below market estimates, but ECB President Mario Draghi has said that the numbers are within the range that has been anticipated by the ECB.

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News and Review of European Economic Zone (Spain)

 

Spain Experiencing Deflation 3 Months streak

Monday, September 29, 2014

 

Spanish consumer price index menuruna back in September, signaling the fourth largest economy in Europe is likely to get stuck in a deflationary period. Until September Spain has experienced three consecutive months of deflation.

 

National Institute of Statistics reported the consumer price index fell 0.3% in September using the calculation method of the European Union. While the method of calculation of Spain's own consumer price index fell by 0.2%, slightly below the EU calculations. The decline was better than in August when it dropped -0.5%.

 

Spain out of recession for more than two years last summer, but some economists worry about the decline in the prices of goods and wages in Spain and other countries in the euro zone will limit the medium-term growth prospects.

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News and Review of European Economic Zone (UK)

 

Number of UK Mortgage Approvals Decline Back in August

Monday, September 29, 2014

 

The number of mortgage approvals in the UK fell more than expected in August, these results extend the decline from the peak levels achieved at the beginning of this year after the Bank of England took steps to curb lending.

 

The number of approvals fell to 64.212 from 66.100 in July, in the report by the Bank of England said today in London. These results are compared with the median estimate of 22 economists for a reading of 65,000. Total net loans on houses rose as much as 2.3 billion pounds ($ 3.7 billion).

 

The property market in the UK eased, and Hometrack Ltd. says that the value in London fell for the first time in more than two years this month as declining demand. Bank of England, which has warned that the housing sector may pose a risk to the recovery, they have acted to prevent the buildup of unsustainable borrowing in the month of June, by providing limits on the number of risky mortgages.

 

Credit Reports in BOE also shows that there is some improvement in binsis loans, which rose as much as 817 million pounds in August from July, it adalaj out the second increase in a month. While the amount of the loan is still down 2.8% from a year ago, it was the smallest annual decline since the data began to be collected in 2012

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News and Review of European Economic Zone

 

Euro Zone Economic Confidence In The Brittle In September

Monday, September 29, 2014

 

The level of economic confidence in the euro zone was reduced in September in a sign that measures from the European Central Bank to prop up the recovery has not been successful.

 

Index of executive and consumer sentiment slipped to 99.9 in September from 100.6 in the previous month, in the report by the European Commission in Brussels today. These results were the weakest since November and in line with the median estimate of 25 economists in a Bloomberg survey.

 

Policy makers will meet in Naples, Italy this week will discuss the details of the asset purchase plan designed for long-term loans and low interest rates to start back pereknomian. The ECB is currently struggling in a low level of confidence, economic growth in a stagnant block of 18 countries in the second quarter, the unemployment rate bertahaan near record highs, and inflation running far below the target.

 

"This is a very weak recovery in the Euro zone and we just have a little momentum," said Anatoli Annenkov, a senior economist at Societe Generale SA in London. "There is an internal weakness in the euro area, and it is worrisome for consumers danperusahaan, which will make decisions on hiring and capital investment. If you do not have a request from the company, the growth will not be driving."

 

The level of industrial confidence fell to minus 5.5 from minus 5.3, while the construction sentiment rose to minus 27.7 from minus 28.4, according to a report today. Sentiment in services indsutri rose to 3.2 from 3.1 in August. The level of consumer confidence was at minus 11.4, according to a preliminary reading on September 22 last.

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News and Review of European Economic Zone (Germany)

 

German Unemployment Up Some 12,000 People in September

Tuesday, September 30, 2014

 

The number of unemployed in Germany unexpectedly rose for a second month as the ongoing tensions with Russia and the faltering recovery in the euro area has worsened the outlook for the country with the largest economy in the euro area.

 

The number of people who are not working up a seasonally adjusted 12,000 into as much as 2.92 million in September, in the report by the Federal Labor Agency in Nuremberg today. Economists had expected to decline as much as 2,000 people, according to the median estimate of 27 analysts in a Bloomberg survey. Adjustments in the unemployment rate unchanged at 6.7%, it is the lowest level in more than two decades.

 

The German economy contracted in the second quarter and the strength of the economic rebound they are the key to revival of growth and inflation in the 18-nation eurozone bloc. Data on this day in the estimate will show the euro area inflation will run at the slowest pace in nearly five years and the unemployment rate bertahaan near record highs.

 

The number of people who do not work in western Germany rose around 13,000 and in the eastern region were little changed, on show in the data today.

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News and Review of European Economic Zone (UK)

 

The UK economy Growing Strong in Second Quarter

Tuesday, September 30, 2014

 

The number of unemployed in Germany unexpectedly rose for a second month as the ongoing tensions with Russia and the faltering recovery in the euro area has worsened the outlook for the country with the largest economy in the euro area.

 

The number of people who are not working up a seasonally adjusted 12,000 into as much as 2.92 million in September, in the report by the Federal Labor Agency in Nuremberg today. Economists had expected to decline as much as 2,000 people, according to the median estimate of 27 analysts in a Bloomberg survey. Adjustments in the unemployment rate unchanged at 6.7%, it is the lowest level in more than two decades.

 

The German economy contracted in the second quarter and the strength of the economic rebound they are the key to revival of growth and inflation in the 18-nation eurozone bloc. Data on this day in the estimate will show the euro area inflation will run at the slowest pace in nearly five years and the unemployment rate bertahaan near record highs.

 

The number of people who do not work in western Germany rose around 13,000 and in the eastern region were little changed, on show in the data today.

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News and Review of European Economic Zone

 

Eurozone Inflation Eases Back in September

Tuesday, September 30, 2014

 

Eurozone inflation slowed in September, these data provide a challenge to the European Central Bank officials will gather this week to decide whether in need of additional measures to prevent deflation.

 

Consumer prices rose at an annual rate of 0.3% in September, in the report by the European Union's statistics agency in Luxembourg today. These results correspond to the median estimate in a Bloomberg News survey and the reading is under 0.4% increase in August. The unemployment rate held at the level of 11.5% in August, in the report by Eurostat in a separate report.

 

ECB President Mario Draghi told lawmakers in Brussels on September 22 that policy makers will still "fully tried" to increase inflation, which is currently still under the central bank's target since the beginning of 2013, policy makers have agreed to provide stimulus unprecedented in the last four months, and ready for launch details of the asset purchase plan that will help add as much as 1 trillion euros ($ 1.3 trillion) to the ECB's balance of trade.

 

Low inflation "is a sign of remarkable weakness of economic activity in the euro zone," said Christopher Matthies, an economist at Sparkasse Suedholstein in Neumuenster, Germany. "The economy looks bleak at the moment, and I do not see any relief in the short term."

 

Tingkaty Eurozone economic confidence slipped this month to the lowest level since November, while manufacturing and services growth unexpectedly slowed to the slowest pace this year, according to previous data from Markit Economics.

 

Energy prices fell by 2.4% in September from a year ago after turunu 2% in the previous month, on show in a separate report today. Price of alcoholic beverages, food and tobacco rose 0.2%, while the cost of living rose 1.1%.

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News and Review of European Economic Zone (UK)

 

UK Manufacturing Index Level Sag To 51.6 In September

Wednesday, October 1, 2014

 

UK manufacturing grew at a slower pace in 17 months in September as growth in new orders almost stagnant.

 

Markit Economics said that the purchasing managers index fell to 51.6 from 52.2 in August, it was the lowest level since April 2013, index of new orders fell to the lowest level in 19 months in the level of 50.5. Ordering index for exports also fell.

 

Markit blamed weakening in demand from abroad as "sluggish sustained in the Euro zone," and said that the surge in British manufacturing at the beginning of this year "seems to just flow." The report indicates weakness in some parts of the economy in the third quarter after expanding 0.9% in the three months to June.

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News and Review of European Economic Zone

 

Euro Zone Manufacturing Sector Slows Return in September

Wednesday, October 1, 2014

 

The rate of growth of the manufacturing sector in the euro zone slowed again in September as the number of new orders contracted for the first time in more than a year due to a decrease in the level of domestic and foreign demand, according to a survey of business on Wednesday. The factories also cut costs last month for the first time since April, with the data on Tuesday showed euro zone inflation slowed again in September to just 0.3%, the lowest level since the peak of the financial crisis. It underlines the difficulties that may be encountered in the European Central Bank pushed up the inflation rate toward its target slightly below 2%, especially with the low level of demand for goods and services in the economy stagnant.

 

Markit manufacturing PMI for September is at 50.3, the lowest level since July last year and below the 50.7 in August and the previous estimate of 50.5. However, PMI can still stay above 50 that separates growth and contraction for 15 consecutive months. "Eurozone manufacturing sector has lost growth momentum gained at the beginning of the year, moving closer to stagnation," said Chris Williamson, chief economist at Markit. "The level of orders is shrinking for the first time since June last year, signaling output could begin to fall as we enter the last quarter of this year."

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News and Review of European Economic Zone (UK)

 

England Productivity Rises in Second Quarter

Wednesday, October 1, 2014

 

Productivity of workers in the UK failed to recover in the second quarter of this year despite strong economic growth, despite stagnant wage levels maintain the inflation rate remained stable, according to data on Wednesday. Output per hour of work unchanged in the second quarter compared with the first quarter of 2014 and 0.3% lower than a year earlier, according to the Office for National Statistics. UK productivity levels have long weakened since the beginning of the recovery, with an increase in employment levels exceeding the rate of economic growth.

 

The Bank of England estimates that productivity will recover as rapidly increasing pace of recovery, even though the BoE expects productivity to rise no more than 0.25%. Unit labor costs, a measure of how much the company should pay for the output, and the size of the current inflationary pressures, achieving the biggest annual decline in nearly 3 years, fell as much as 1.1%. The BoE has said is not likely to raise interest rates before any signal levels increase wages faster.

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News and Review of European Economic Zone (France)

 

French Finance Minister: We Want to Save without Reducing Spending

Wednesday, October 1, 2014

 

The French government on Wednesday (01/10) presented the 2015 Proposed Budget The main focus of the budget is clear, namely improving the financial condition of the national economy and create a climate that is not too dependent on government funding.

 

French Finance Minister, Michel Sapin, explaining the details of the strategy state spending cuts worth 21 billion euros ($ 26.5 billion). In it covers a variety of areas ranging from welfare benefits to local government spending. Trimming the budget is the main agenda of President Francois Hollande since he first took power in May 2012 Unfortunately, until now the government failed to achieve the desired savings target because if reduced spending drastically, the domestic economy is feared to collapse. So even in the draft budget 2015, the government is still reluctant to lower spending targets despite being chased by trimming the deficit.

 

"We are seriously studying the economy, but we reject the reduction of spending," said Sapin in a press conference in Paris. French economic condition is very poor with nil growth in gross domestic product and the unemployment rate jumped sharply. Consumer spending power is also very low and businesses are reluctant to invest in the real sector. Not surprisingly, according to the latest polls, the popularity of the president and his party Hollande getting dropped because the French people are becoming impatient face of current economic conditions.

 

According Hollande, public spending needed to close the tax relief provided to businesses. He considers the stimulus in the business sector is more effective because it is able to lift economic performance boost investment and provide employment. That is why he does not want an all-out dipapas budget for the period 2015.

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News and Review of European Economic Zone (UK)

 

BOE Forbes: Pound Down Pressure On Inflation Seen From Fading

Thursday, October 2, 2014

 

Bank of England policy makers, Kristin Forbes said that the downward pressure on the pound as UK inflation may be starting to fade, and there is the risk of a rise in wage growth.

 

Forbes, who is a former White House adviser, made ​​the comments in his first speech since joining the Bank of England in July. At the moment he chose to keep its benchmark rate at a record low level of 0.5%, his comments also have the same view with a small portion of the nine-member Monetary Policy Committee, which is pushing to strengthen policies to ensure inflation remains under control.

 

With England preparing for the fastest growth rate among the G7 group this year, the debate on when to be pushed interest rates intensified. The pound appreciated by 7% this year which has helped sustain the growth of consumer prices below the BOE target of 2%, it adds load to maintain emergency stimulus possibility at this point.

 

Two members of the MPC's central bank has chosen to Rev the benchmark rate to 0.75% in the last two months. With the jury that will hold the next monthly meeting on October 7-8, Forbes said that they should be aware of the potential risks to the target.

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News and Review of European Economic Zone

 

Draghi: ECB May Need to Act Like Hercules

Thursday, October 2, 2014

 

European Central Bank President Mario Draghi to use Hercules to illustrate the challenges faced by European policy makers to make the euro zone economy out of recession.

 

"As Hercules fighting the Hydra, it sometimes seems as though we have beaten the odds, such as the debt crisis, but two new challenges emerge, such as low inflation and a weak recovery," Draghi said in a speech to a dinner at Wednesday ahead of the ECB's monthly policy meeting, which took place in Naples.

 

The euro zone economy has suffered from stagnation and weak growth in consumer prices. Annual inflation rate of only 0.3% in September, well below the ECB's target level of 2%.

 

The ECB has responded by cutting interest rates, cheap bank loans and plans to buy the assets of background in securities and structured to cover the bond. However, economists widely predict there could be the latest step in this Thursday and wait for the economic impact of such a move.

 

"It also needs to remember how Hercules defeated the Hydra: While he memengal his head, his nephew cut his throat. In other words, I want the problem handled simultaneously from the surface down to the roots," said Draghi.

 

"And this is what we need to do on this day in the euro area," he added.

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News and Review of European Economic Zone (France)

 

Moscovici: French Need For Picking Time

Thursday, October 2, 2014

 

Pierre Moscovici, a former French finance minister who is nominated as the European Union's economic commission, on Thursday said that he would use the loophole to maneuver on EU budget rules to encourage growth rate.

 

"We can not cut the deficit if the economy does not grow," he said. "As a commissioner I will maintain the rules and used a loophole to maneuver in these rules." He said France needed time to fix the economy: "Germany took over 10 years for change of prisoners in Europe is the strongest economic nation. France also takes time."

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News and Review of European Economic Zone

 

ECB Hold Interest Rates, Focus On Asset Purchase

Thursday, October 2, 2014

 

The European Central Bank kept interest rates at a record low as investors await President Mario Draghi to give details of the asset purchase plan. Council of the ECB's policy of keeping interest rates at 0.05% by refinancing at today's meeting in Naples, Italy. The decision is in line with economist estimates. Interest rates on savings and loans remained at -0.2% and 0.3% respectively. The focus now switches on Draghi's press conference at 19:30 pm later, when he will release the asset purchase plan asset-backed securities and covered bonds specifically. Greek bond prices rose yesterday on speculation the ECB will reduce the quality requirements of assets that can be received.

 

"We want to know what assets, how much, where, and when the planned purchase of the ECB," said Robert Kuenzel, an economist at Daiwa Capital Markets Europe Ltd. in London. "Standard asset ECB may have to be revised so that the program can be effective and fair. "the proposal by the Board Policy 6 ECB estimates that the current persyaraan about the quality of assets received has been loosened to allow the purchase of ABS belongs to Greece and Cyprus, the Financial Times reported this week. ECB spokesman declined to comment on the article.

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News and Review of European Economic Zone (UK)

 

UK Service Sector dimmed in the month of September

Friday, October 3, 2014

 

Markit PMI index fell to 58.7 from 10-month highs at 60.5 in August. Economists had expected to decline to a level of 59, based on the median estimate in a Bloomberg News survey. Markit said that the index, which in conjunction with a survey of the manufacturing and construction sectors, indicating that perhaps the economy will grow by 0.8% in the third quarter, down from 0.9% in the second quarter.

 

Manufacturing expanded at the slowest pace in 17 months in September as the export sector is under pressure from the euro zone economy stagnant. At the moment the UK economy still recorded better growth, recovery "seems to be losing momentum," said Chirs Williamson, chief economist at Markit.

 

The signs that the recovery is not stable, it may help the Bank of England Governor Mark Carney to maintain the possibility interest rates at record lows when officials will meet next week. Voices in the Monetary Policy Committee members divided at a meeting in August and September, with two of the nine members encouraged to Rev interest rates.

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News and Review of European Economic Zone

 

Business Growth Rate of the Euro Zone Reaches Weakest Level This Year

Friday, October 3, 2014

 

The pace of business growth in the euro zone at the level of the slowest this year in September, indicating the decrease in demand in the euro zone where the level of new orders in the level lows in almost a year, according to a survey on Friday. The company cut the price in a faster pace last month, underlining the difficulties which may be faced by the European Central Bank in pushing up inflation low at the moment, especially with the weak level of demand for goods and services in the economy stagnant.

 

Markit composite PMI fell to a 10-month low at 52.0, well below the 52.5 in August. These results are lower than the previous estimate at 52.3, although this is above the 50 level for 15 consecutive months. "PMI data signaled the euro zone economy still slumped in the third quarter," said Chris Williamson, chief economist at Markit.

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News and Review of European Economic Zone (Germany)

 

German Service Sector Growing, Start the Economy Recovers

Friday, October 3, 2014

 

German private sector expanded in September for the 17th consecutive month, according to a survey on Friday, signaling that Europe's largest economy will grow again in the third quarter after contracting in the second quarter. Markit composite PMI rose to 54.1 from 53.7 in August. This figure is well above the 50 level that limit the growth and contraction and also slightly higher than the previous estimate at 54.0. It was triggered by the expansion of the service sector, while the manufacturing sector is contracting.

 

"Contrary to the manufacturing sector collapsed, the German services sector continued to strengthen towards the end of the third quarter," said Oliver Kolodseike, economist at Markit. He said the PMI indicates that the German economy has rebounded in the third quarter after contracting 0.2% in the quarter sebeasr second. "However, the economic growth rate is expected to be well below 0.7% sebeasr expansion achieved in the first quarter, as stagnant manufacturing sector," he added

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News and Review of European Economic Zone (UK)

 

UK Financial Services Sector Shows Growth Highest Since 2007

Monday, October 6, 2014

 

A survey showed the UK financial services sector recorded the best performance since 2007 in the third quarter of this year, and encourage their profit. A survey released by the Confederation of British Industry and PricewaterhouseCoopers financial services company that generates 60% of financial services companies said the increase in volume of business, 11% said menurunan, and the rest said stable. The increase was led by banks are almost seluruhanya reported kanaikan business activity and profits in the three months ended September.

 

The figure shows the UK financial sector continues to show the post-crisis recovery in 2008 tough sector can help the UK's economic expansion in the rest of the year. Surveyed banks are now focusing on the expansion of consumer-based and profotabilitas, they also say there is an increase in operating costs, but also managed to reduce the value of troubled loans.

 

CBI survey was conducted on 109 financial companies in the period from August to September.

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News and Review of European Economic Zone (Greece)

 

Today, the Government of Greece Read the Draft Budget 2015

Monday, October 6, 2014

 

The state government had just separated from the brink of bankruptcy, Greece, is scheduled to release a draft state budget for 2015 today (Monday, 10.06). According to local media reports, Kathmerini, targeting government surplus target gross domestic product (GDP) of 2.9%.

 

Target suplus Greek GDP would fall under the 3 institutions demand 'Troika' which helped when first crisis, the International Monetary Fund (IMF), the European Union and the European Central Bank (ECB), which is at the level of 3%. However, when referring to the financial report for the last decade, Greece will reach a post budget balance point first if successfully implemented.

 

In the government's draft budget, there is no expenditure savings schemes like years ago. However, there are several strategies such as tax cuts tax reduction of 30% for heating energy, the reduction of corporate tax and income tax relief. Broadly speaking, the budget assumes economic growth rate in 2015 at 2.9% rate.

 

Sterilization of Greece from the European bailout program began in April. At that time most of the state revenue comes from tourism was allowed to re-access the credit markets. Authorities Debt Athens welcomed the opening of the door by pulling in fresh funds of about 3 billion euros ($ 4.15 billion) through the sale of 5-year bonds. For the first time since taking a bailout program the European Union in 2010, Greece could again raise funds in the primary market debt securities.