News and Reviews European Economic Zone

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News and Review of European Economic Zone (UK)

 

British Society Anxious For Buying a Home

Monday, July 28, 2014

 

British society feel less confident to buy a house to sell the house while sentiment improved, according to survey results on Monday that reinforce the view that the housing market slowed. Survey by the Halifax index shows people who feel that now is the right time to buy a home fell sharply by 29 points to 5 in the second quarter, the biggest drop since the survey began in April 2011 Conversely, 57% of the people surveyed feel next year will be a good time to sell any home, with 32% feel it is a bad thing.

 

UK housing market has recovered rapidly, with home prices rose an annual alaju pad of 11%. The minimal number of new homes entering the market has been touted as one of the important factors. Bank of England Governor Mark Carney last week reiterated his view that the housing market became the biggest domestic risk to the recovery of the British economy. However, there are a number of signals that the market may be slowing down, including the decline in the home price index by Halifax and the Royal Institution of Chartered Surveyors

 

"People believe that this is the right time to sell not buy a house, especially in London and the South East in general house price expectations higher and buy batteries began to die down unlike in the previous 12 months," said Craig McKinlay director of Halifax Mortgages. The positive sentiment to sell is at its highest level in the East and Southeast, where 65% of respondents felt it was the right time to sell. In Scotland, only 36% of respondents who feel positive. Halifax said that 7 out of 10 adults in the UK predicts the average house price in England will rise by next year. The number of people who mention the price of buying property as an obstacle homes rose by 6 points to 35%.

[mynameisandhy]

News and Review of European Economic Zone

 

Potential Launches Latest EU Sanctions To Russia

Monday, July 28, 2014

 

Over the weekend, more details related to the potential additional EU sanctions on the Russian economy began to emerge.

 

Proposals thick 10 pages have been distributed to a number of EU diplomats over the weekend that would prohibit the participation of EU member states related to the sale of new shares and bonds of Russian companies owned by banks, along with a ban on exports of technology in the energy sector.

 

On Friday last week, the European Council President Van Rompuy also had to provide notification to the prime minister of the European Union, which is limited only to clarify the energy sanctions on the oil sector, Russia and do not touch the EU's natural gas industry because it is still needed to secure the supply of natural gas Uni Europe.

 

German Foreign Minister also stated that the European Union has created new conditions for increasing pressure on Russia through financial sanctions, defense and energy equipment

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News and Review of European Economic Zone (UK)

 

BOE's Broadbent: UK Economy Affect Global Growth

Tuesday, July 29, 2014

 

Ben Broadbent, the deputy governor for monetary policy at the Bank of England, said that the weak global environment will weigh on the outlook for economic growth in the UK.

 

"If the global economy is still sluggish, it would be more difficult for an open economy like the UK remedy achieve strong and balanced growth," he said in a speech in London on this day. That is partly the reason why the Monetary Policy Committee of the Bank of England "England will expect output growth slowed slightly in the future," he said.

 

UK GDP berekapansi 0.8% in the second quarter, pushing output above the level of the previous peak achieved in 2008 and put Britain on the path to become the country with the best economy among the G7 group this year. At the moment when the attention was focused on the central bank will Rev of record low interest rates, BOE Governor Mark Carney said last week that the increase in resistance due to the economy would face "enormous pressure."

 

Global outlook is also the reason for the IMF given the recent assessment that the pound "little overvalued '," says Broadbent.

 

Sterling has appreciated more than 10% against the dollar in the last 12 months and only little changed at $ 1.6970 at 17:15 pm. However, despite that, the sterling is still below peak levels in 2007 which is above the level of more than $ 2.

 

Devaluation of the currency due to the financial turmoil may have triggered a decline in imports has contributed to the recent narrowing in the trade gap, said Broadbent.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

In the UK Mortgage Approvals Rise Above Estimates In June

Tuesday, July 29, 2014

 

The number of mortgage approvals in the UK rose more than economists expected in June, rose to its highest level in four months, this indicates that the housing market get some momentum back.

 

The number of approvals rose to 67.196 from 62.007 upward revision in May, in saying by the Bank of England in London on this day. That compared with the median estimate for the level of 63,000 in a Bloomberg survey.

 

The increase in the number of mortgage approvals is the first since January, with in strict affordability tests introduced him in April in which it has slowed the amount of the mortgage loan. Anxiety over the UK property market is likely to be at risk of overheating have pushed BOE Governor Mark Carney to announce further policy last month remedy to limit the risk to the mortgage.

 

The data show net mortgage lending of 2.1 billion pounds in June, down from 2.3 billion pounds in May. Total consumer credit slowed to 418 million pounds.

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

ECB officials Wage Increase Support Workers in Germany

Wednesday, July 30, 2014

 

Plans wage increases in Germany is a positive sign in the sector of the European economy. Although the absorption of labor in the region is weak and supply of human resources with insufficient expertise, wage reform discourse in the blue continent country's largest economy is a positive thing for the Euro zone.

 

The compliment made ​​by Members of the European Central Bank's Policy Board (ECB), Jens Weidmann told the Frankfurter Allgemeine Zeitung media today. The percentage of the salaries of workers in Germany the plan is to rise by 3% in the medium-term inflation trend that less than 2%. "Calculated with the productivity levels of 1%, what is happening in Germany is a good symptom recovery," Weidmann said.

 

Comments ECB's Weidmann is a form of support to the proposal that the wage increase proposed by the head of the Economic Team Bundesbank and ECB officials themselves. But ECB officials who doubles as Governor of the Central Bank of Germany, Weidmann also warned of the negative effects of the purchase of assets such as debt securities in large quantities by the ECB and central banks in the world. "The purchase of (bond) will only complicate matters if it turns out that the risk of loss of investment is greater than the ability to pay," he said. While at the same time, the advantages of business lending and borrowing may fly without previously thought.

[mynameisandhy]

News and Review of European Economic Zone (Spain)

 

Fast Growing, Best Spanish economy in the European Zone

Wednesday, July 30, 2014

 

Spain Statistics today reported that the nation's economic growth for the second quarter of 2014 by 0.6% compared to the first quarter. The percentage is better than the estimate of the central bank as well as make this country a member of the Euro with the best economic performance during the period.

 

According to INE data, Spain's economy grew in the second quarter of its fastest pace in six years. This is in contrast with the trend of the economy in other Euro zone countries are actually approaching zero.

 

Bank of Spain last week predicted gross domestic product increased by 0.5% in the second quarter or better than the record first quarter by 0.4%. Official data of 0.6% shows how effective the government's work program. Economists even mention the economic performance of Spain as one of the best in Europe thanks to the effects of economic reforms after the recession a few years ago.

 

In a report last week, the number of unemployed in the country of Spain finally also reduced in the second quarter of 2014, government efforts to expand the 402 400 jobs successfully open new positions and decrease the number of people without jobs to 300,000 people.

 

Along with the rapid pace of domestic economic recovery, the percentage of unemployment in Spain fell from 25.9% (first quarter 2014) to 24.5% in the second quarter. Nevertheless, it is still considered as the ratio fantastic for a developed country so the government should not be complacent.

 

Spain is the country's 4th largest economy in the Euro zone. Since the economic decline in the past six years, the number of unemployed increased from time to time. 2014 could be awakening moment for the country because the economy turned positive matador.

[mynameisandhy]

News and Review of European Economic Zone

 

In the European Economic Confidence Rises In July

Wednesday, July 30, 2014

 

The level of economic confidence in the euro zone rose unexpectedly in July, led by the industrial and construction sectors, although price growth is still sluggish and geopolitical tensions provide a threat to the economic recovery in the region.

 

Executive and consumer sentiment index rose to 102.2 from a revised 102.1 in June, in the report by the European Commission in Brussels today. The median forecast in a Bloomberg News survey of 27 economists called for a decline to 101.9.

 

"The level of business and consumer confidence has gradually increased since the crisis," said Timo del Carpio, an analyst at RBC Capital Markets in London. "This is a positive development as the loss of a drag on investment and consumption decisions."

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News and Review of European Economic Zone (Spain)

 

Economic Growth Exceeds Estimates Spain Bank of Spain

Wednesday, July 30, 2014

 

Spain's economic growth in the second quarter of the results exceed estimates of the Bank of Spain as the economists say that domestic demand has supported the recovery in the country with the fourth largest economy in the euro zone even though consumer prices fell this month.

 

National Statistics Institute in Madrid based on today saying that the GDP rose 0.6% from the first quarter, the result of higher-than-expected 0.5% which was released last week by the Bank of Spain. Consumer prices fell 0.3% from a year ago in July, INE said in a report separation.

 

"It's rare for one to give the Bank of Spain predicted, although the difference is only 0.1%," said Frederik Ducrozet, an economist at Credit Agricole CIB in Paris. "It shows momentum slightly stronger than that in the estimate.

 

In the midst of domestic demand began to recover from the deepest austerity measures langlah in Spanish democratic history, Prime Minister Mariano Rajoy rely on a rebound in the economy in the face of unemployment which reached 25%, it is the second highest in the EU.

 

"The growth may beat estimates this year and next year as domestic demand seems to be recovering, perhaps boosted by government incentives in the muster until the next general election, said Ducrozet.

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

German Retail Sales Figures Exceed Expectations

Thursday, July 31, 2014

 

Received positive surprise European financial market participants a few moments ago. Retail sales data (retail sales) of Germany unexpectedly rose more than forecast in June.

 

According to Germany's national statistics agency, retail sales (monthly) rose 1.3% in the month of June 2014 (adjusted for seasonal shopping patterns). That figure is higher than the estimated increase produced by Dow Jones Newswires survey of the media, which only amounted to 1.0%. While the month of May, retail sales also fell only 0.2% of the estimate to minus 0.6%.

 

While when referring to the calculation for annual basis, retail sales rose 0.4% in June. For the period of the first half of 2014, retail sales increased 1.5% over the initial half of 2013.

 

Sales of food products, beverages and tobacco rose 1.9%, while care products, drugs and cosmetics also increased 5.0%. Sales via the internet and direct offers jumped 6.6% (data: Destatis). Today's data release further strengthens the assumption that the interests of Germans gradually improved consumption.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

Nationwide: House Prices in the UK Growth Slows in July

Thursday, July 31, 2014

 

House prices in the UK grew at the slowest pace since April last year, according to the results of a recent survey UK Nationwide lending institutions on Thursday.

 

UK house prices rose only 0.1% in July, lower than the expected increase of 0.5% and well below the record for the highest increase of 1% which is inscribed in June. The annual growth is still entrenched in the range of 10.6% with an average price of £ 188,943 house ($ 319,383). Despite the slowdown, the house price index recorded a monthly rise for the 15th time in a row, based on data collected from Nationwide mortgage customers.

 

Slowing growth occurred following the enactment of the new mortgage regulation by the Bank of England in June, which aims to limit the amount of loans that may be submitted by prospective home buyers. Along with the announcement of the regulation of the Mortgage Market Review in April, the bank lender also must adapt to the credit assessment procedures more stringent. It is suspected to have caused the submission of mortgage application processing be delayed, so the grind house price indices.

 

The results of a recent survey also shows that the easing of property buyers in part due to the prospect of higher interest rates the Bank of England in the near future, especially after the data of the 2nd quarter GDP showed the UK economy has grown above its pre-recession peak

[mynameisandhy]

News and Review of European Economic Zone

 

Inflation In Euro Zone Slowed To 0.4% In Level July

Thursday, July 31, 2014

 

The inflation rate in the euro zone slowed unexpectedly in July to the weakest level in nearly five years, this underscores the anxiety of the European Central Bank that the economy is too weak to raise the price.

 

Inflation was at 0.4% in July compared with a level of 0.5% in June, the statistics bureau reported by the European Union in Luxembourg today. This result was the weakest since October 2009 and is under the median estimate for a 0.5% level in a Bloomberg survey of 42 economists.

 

After launching the steps that had never happened before, the European Central Bank is now trying to revive growth and prices to help 18 countries that joined the euro zone bloc who are experiencing economic crisis. Over the past 10 months the inflation rate has been below the level of 1%, less than half of the ECB's target, in addition to the unemployment rate remained near all-time highs over the last few months. The risk increases as the ongoing geopolitical tensions between Russia and Ukraine, and the conflict in the Middle East.

 

"Inflation was well below the ECB's target, and is likely to be very slow to move up from current levels," said Nick Jounis, chief market analyst at ABN AMRO macro in Amsterdam. "It seems almost impossible to take the ECB's latest move to ease policy further. I do not see this as a trigger for greater monetary pelonggran, as long as the policy has not been given a significant impact. "

[mynameisandhy]

News and Review of European Economic Zone

 

Manufacturing Sector Growth Slows Euro Zone

Friday, August 1, 2014

 

The rate of growth in the euro zone's manufacturing sector failed to grow fast as expected last month despite factory barely raise prices, as rising tensions in Ukraine weighed on sentiment, according to a survey on Friday. With inflationary pressures disappear and factory activity is contracting faster in France, the country's second-biggest eurozone economies, this data will be in focus ahead of the European Central Bank policy meeting later on 7 August. Final manufacturing PMI from Markit is at 51.8, the same as the results in June but below the earlier flash data at 51.9.

 

Output index, which includes the composite PMI released on Tuesday showed good results for growth, fell to 52.7 from 52.8 in June, was slightly below the flash figures released on 53.0. While accelerating the growth of the manufacturing sector in Germany, Europe's biggest economies, France PMI fell to a 7-month low and followed a decline in Greece along with slowing growth in Spain and Italy.

 

"The situation in the eurozone has clearly deteriorated from promising signal an economic recovery earlier this year," said Chris Williamson, chief economist at Markit. He said the final PMI data are lower than the flash PMI data, "most of the show growing anxiety following the escalation of the crisis in Ukraine by the end of the month."

 

Highlighting the risk of deflation, the output price sub-index fell to 50.1 from 50.4, are thin on the 50 level that marks expansion, while data on Thursday showed euro zone inflation rate fell in July to only 0.4%, the lowest level since the financial crisis almost 5 years ago. "The ECB are looking forward to seeing the impact of the policy released in June, though it will probably take a long time before the impact can be felt on the real economy," said Williamson. To address this threat, the ECB in June released a number of policies including memangkasn savings rate down to zero and offer more long-term loans intended to encourage the level of bank lending to the corporate world.

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News and Review of European Economic Zone (UK)

 

Markit / CIPS: UK Manufacturing Growth Slows in July

Friday, August 1, 2014

 

UK manufacturing grew at the slowest pace in July, which may reflect the prospect of higher interest rates and the impact of the conflict in Ukraine, referring to the results of a survey released on Friday.

 

Report Markit / CIPS UK manufacturing activity index shows slumped to 55.4 in July from 57.5 in June. This figure is far below expectations at the same time 57.2, the lowest level since July 2013.

 

But Markit claims that growth is still strong by historical standards and a slowdown is in line with the projections of the Bank of England which saw Britain's recovery will slow in the next few months.

 

While Markit senior economist Rob Dobson, adding that the decline may also reflect concerns over the UK and Europe market uncertainties crisis in Ukraine, as well as the possibility of monetary tightening in the UK.

 

"It's too early to gauge the impact of the crisis Ukraine, but worries about the impact of policy tightening combination of prospects, economic uncertainty and sluggish trade could lead to manufacturing growth unexpectedly weakened more than forecast," said Dobson

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News and Review of European Economic Zone (Italy)

 

Manufacturing Sector Slump In Italy Back In July

Friday, August 1, 2014

 

Italian manufacturing sector grew at the slowest pace in eight months in July, it gave evidence that countries with the third largest economy in the euro zone is struggling to build momentum.

 

Purchasing managers' index fell to 51.9, it was the lowest level since November, from 52.6 in last month's level. In addition, these results sinyalkan expansion for 13 months, the results were below the median analyst estimate for a reading of 52.5 in a Bloomberg survey of 12 economists. For the euro area as a whole, Markit index was at 51.8, compared with a previous estimate of 51.9 level.

 

Reports from Italy highlighted the challenges that will be faced by the government in the middle of Matteo Renzi him to find ways to revive growth in the current weak economy is prolonged, in which it has been the concern of European policy makers. Youth unemployment rate currently stands at a record high and the Bank of Italy last month cut its forecast for 2014 growth to just 0.2%, less than one-third of previous predictions.

 

"The signs of fragility on the demand side have an impact on job creation and purchase activity," said Markit. "One of the areas is still relatively strong as demand for new exports continue to rise at a solid pace, though on the other hand has become slower."

 

Italian economy contracted by 0.1% in the first quarter and the unemployment rate between the ages of 15-25 years rose to 43.7% in June. Istat statisti Bureau will release its initial estimate of second quarter GDP on August 6th.

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News and Review of European Economic Zone (UK)

 

UK Construction Sector Growth Rate Still Fast

Monday, August 4, 2014

 

UK construction sector grew faster last month with the fastest pace since November 2003, triggering a record high rate of employment creation and supply shortages, according to the survey results on Monday. Monthly PMI for the construction sector by Markit / CIPS fell slightly to 62.4 in July from 62.6 in June, above economists' forecasts for 62.0. A reading above 50 indicates expansion, and construction activity has grown for 15 consecutive months, as the rate of recruitment in the construction sector was the fastest pace since at least April 1997.

 

Respondents said that the increase in the number of jobs resulting increase in workload and efforts to boost capacity, as well as concerns about the availability of sub-contractors, which fell for 13 consecutive months. The Bank of England has said that a shortage of new homes is the reason for the sharp rise in house prices in the UK, which has increased by about 10% in the past year, and nearly 20% in London, according to some surveys.

 

Markit said there was high demand for the material konsturksi in July, put additional pressure on suppliers and indicated by a sharp rise in the number of shipments. Respondents were reminded that the lower level and a shortage of supply and the increase in the average cost per month, with the growth in input prices fell only slightly from 6-month highs last month. However, the increase in the overall construction output is supported by advances in new business.

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News and Review of European Economic Zone

 

First Time in 2014, Euro Zone PPI Rises

Monday, August 4, 2014

 

For the first time in 2014, the price of goods sold by the factories in the euro zone rose. Numbers or the producer price index producer price index (PPI) indicates that the June issue of the single currency region users began to recover from the low inflation phase.

 

European Union statistics agency announced that producer prices rose 0.1% compared to May, but still 0.8% lower than in June 2013, as the record in May, the annual PPI fell by 1.0%.

 

The increase in PPI figures indicate that it is unlikely for consumer prices to rise dramatically in the next few months. On Thursday, Eurostat said that annual inflation fell to 0.4% in July or lowest level since October 2009, and is under the target of the European Central Bank (<2%). Nevertheless, economists estimate consumer price inflation will decline in August or September. The fact that there was a surge in the level of producer prices strengthen these predictions.

 

In response to the slow growth rate and low inflation, the ECB providing additional stimulus at the June meeting yesterday and promised extra support if the condition is not improved. The increase in PPI was much more influenced by the increase in energy rates by 0.5% compared to duty in May. Even if it does not include components herga energy, producer prices also continued to rise as the price of goods and capital goods categories of durable consumer goods rose 0.1%.

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News and Review of European Economic Zone

 

Euro Zone Producer Price Index Up in June

Monday, August 4, 2014

 

The producer price index in the euro zone rose for the first time since December, gives an indication of the block 18, the country will not fall over in the period of low inflation could hamper economic recovery.

 

Eurostat reported the producer price index rose 0.1% in June from May. But there are still 0.8% lower than in June of 2013, the decline was lower than in May when it fell 1.0% from the previous year.

 

The moderate rise in consumer price index gives an idea will not rise rapidly in the coming months. Eurostat on Thursday reported annual inflation of 0.4% in July, its lowest level since October 2009, and well below the European Central Bank's target of 2%.

 

Fortunately face of low inflation, the ECB last month cut interest rates to 0.15% and impose a negative deposit rate at -0.1%. The central bank also said it will be giving out additional stimulus if the economic outlook does not show an increase

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

NIESR: UK Economy Will Grow 3% in 2014

Tuesday, August 5, 2014

 

The increasing evidence that the UK's economic recovery strengthened to make NIESR raised its forecast for UK economic growth in the year 2014 on Tuesday. National Institute of Economic and Social Research (NIESR) said it expected the UK economy to grow by 3.0% this year, up from 2.9% in the previous projection. But while the economy managed to grow past the high pre-crisis levels in the second quarter of 2008, NIESR said it may take until 2017 to recover individual output.

 

NIESR reiterated that the mystery of the low level of productivity of the UK, among the worst in the G-7, is a cause of uncertainty. Support from the market housing sector and growth in housing credit is a major concern in the short term, NIESR said, adding that the impact of interventions on housing market by recent government remains unclear. So also with kebiajkan in April tighter checks on eligibility requirements related to mortgage lending, the Bank of England last month announced a policy to prevent the buildup of bad housing loans.

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News and Review of European Economic Zone (Germany)

 

Car Sales in Germany Up 6.8%

Tuesday, August 5, 2014

 

Car sales in Germany rose sharply in July, giving an indication of a possible end to the dismal sales of vehicles in Europe in recent years. German Federal Motor Transport Authority said resgistrasi new car in July rose 6.8% to 270,249 from the previous year.

 

From January to July the number of registrations increased 3.0%, showing a recovery from the sharp downturn experienced by the automotive industry hit by the current European debt crisis. "The increase in domestic sales creates realistic expectations (recovery of the automotive market)" said Matthias Wissmann, president of the German Association of the Automobile Manufacturers.

 

Premium class cars became the most popular in July, the number of which increased 28% regustrasi. Regustrasi for ATV vehicles and SUVs rose 23% up 21%

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News and Review of European Economic Zone

 

Euro Zone Retail Sales Rise in June

Tuesday, August 5, 2014

 

Higher sales of food and non-food in June making retail sales in the euro zone rose to its highest level in seven years. Eurostat reported retail sales rose by 0.4% in June from May. While for May was revised up to 0.3% from the previous 0%. Compared to June 2013 period, retail sales reportedly rose by 2.4%, to its highest level in March 2007 While sehak for May was revised down from the previous release of 0.7% to 0.6%.

 

The increase in retail sales is supported by increased sales of non-food products such as electronics, books, and textiles by 3.0%, and the subsequent rise in the food sector by 2.0%. Eurozone economic recovery so far sustained by exports, but Europeans seemed to increase spending. The two largest economies in the bloc of 18 countries, Germany and France, each recorded an increase in retail sales year on year the highest since February 2011.

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News and Review of European Economic Zone (UK)

 

UK Service Sector Activity Streaking in July

Tuesday, August 5, 2014

 

UK service sector activity showed an increase in July, signaling the UK economy began to gather momentum regrowth. Service sector activity represents three-quarters of the total UK gross domestic product per year.

 

Markit and the Chartered Institute of Purchasing and Supply reported service sector activity index soared to its highest level in eight months in July amounted to 59.1, from 57.7 the previous month, and above analyst estimates of 58.1. A reading above 50 indicates expansion while a reading below 50 indicates contraction.

 

Acceleration of the service sector provide a strong initial picture for the UK economy in the third quarter of this year. British economy in the second quarter grew by 3.2% from the same period the previous year. The International Monetary Fund expects growth in the UK economy will be the largest among the other developed countries this year, the IMF expects the UK economy grew 3.2%, while the United States is a country with the world's largest economy is expected to grow 1.7%

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News and Review of European Economic Zone (UK)

 

Halifax: House Prices in UK Rise Sharply in July

Wednesday, August 6, 2014

 

British mortgage bank, Halifax, on Tuesday said that house prices in the 3 months to July rose more than 10% from a year ago thanks to a sharp rise in July. Halifax said that house prices rose as much as 1.4% in July after fell as much as 0.4% in June to bring the house prices in the three months to July rose 10.2% from a year ago. Economists estimate the monthly and annual rate of increase of 0.4% and 9.6% respectively.

 

"While the supply is low, the level of demand will continue to be supported by the continued economic recovery, growth in the labor sector, improved consumer sentiment and mortgage rates are low," said Stephen Noakes, mortgage director at Halifax.

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News and Review of European Economic Zone (Germany)

 

German Manufacturing Orders Slump in June

Wednesday, August 6, 2014

 

Geopolitical turmoil that occurred between Ukraine and Russia re-weighed on the German economy, Germany reported manufakur orders slumped in June. German Economy Ministry reported manufacturing orders slumped two consecutive months in June amounted to -3.2% from May. While for May was revised to -1.6% from -1.7% the previous release of.

 

The ministry said the fears of geopolitical turmoil drags order and will resist the growth of German industry, and in the coming months industrial business activity is expected to grow moderately.

 

The decline in June is to be the biggest since September 2011 Orders from abroad fell 4.1%, with the euro zone become the biggest contributor to the decline in orders of 10.4%. Domestic orders fell 1.9%. Throughout the second quarter orders fell 0.6% from the previous quarter

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News and Review of European Economic Zone (Italy)

 

Italian Industrial Output Up in June

Wednesday, August 6, 2014

 

The rise in output across products except semi-finished goods made ​​Italian industrial production in June rose above economists' estimates. Istat reported industrial outpu third largest economy in the euro area rose by 0.9%, the highest level since January. The average estimate of economists by Dow Jones Newswires survey of 0.6%.

 

The increase was led by an increase in investment goods by 2.6%, followed by consumer goods by 2.5%. Expansion of goods kosumen was the highest since May 2013, the energy output rose 0.3% while intermediate goods fell 0.2%.

 

Compared with June 2013, the industrial output rose 0.4%, while economists had previously forecast a decline of -1.2%. Istat also revise output in May to -1.7 from -1.8% the previous release

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News and Review of European Economic Zone (UK)

 

Maintaining BoE policy in the Middle Warming Debate

Thursday, August 7, 2014

 

The Bank of England on Thursday decided to keep its benchmark interest rate unchanged amid simmering debate began about the time of the first rate hike. After serving for 2-day meeting, the BoE's Monetary Policy Committee decided to keep interest rates at 0.5% and maintain the amount of asset purchases at £ 375 billion ($ 632 billion).

 

Strengthening the UK economy has delivered BoE on track to become the world's major central banks were the first to raise interest rates from record lows. The investors estimate Governor Mark Carney will start raising interest rates early next year, although some analysts believe the Bank of England is still possible to raise it before the end of 2014.

 

With economic growth of 3.2% which is inscribed in the 2nd quarter, the International Monetary Fund expects growth in the UK will be the fastest among the other developed countries. Nevertheless, the BoE policy makers signaled they still will keep interest rates to obtain evidence the economy was approaching full strength and rising inflationary pressures. British annual inflation was at 1.9% in June, still below the target of 2% of the BoE.

 

But there are signs if the 9th member of the MPC started having differing views on the initiation of policy tightening, which could extend to disputes directly. 2 Minutes of the last policy meeting indicated some policy makers began to consider a rate hike earlier.