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Rory Fennessy - 3 Jonathan Cable - 2 ” - 1 Jack Allen - 1 Reynolds - 1 Rebecca Cook - 1 Chris Williamson - 1 Christine Lagarde's - 1
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4 mentions found


☆ Europe's Inflation Eased to 2.9% in October Thanks to Lower Fuel Prices. but Growth Has Vanished
  + stars: | 2023-10-31 | by ( Associated Press | Oct. | At A.M. | ) www.usnews.com   time to read: +3 min
FRANKFURT, Germany (AP) — The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. Inflation fell from an annual 4.3% in September as fuel prices fell by 11.1% and painful food inflation slowed, to 7.5%. The lower inflation figure follows a rapid series of interest rate hikes by the European Central Bank. The future path of inflation toward the ECB's target remain uncertain because core inflation, excluding volatile fuel and food prices, remains higher than the headline figure, at 4.2%. The current burst of inflation was set off as the global economy rebounded from the COVID-19 pandemic, leading to shortages of parts and raw materials.
Persons: Rory Fennessy, ”, Jack Allen, Reynolds Organizations: European Central Bank, European, Oxford Economics, European Central Bank . Higher, Capital Economics, Federal Reserve Locations: FRANKFURT, Germany, France, Europe, Russian, Ukraine, Moscow, U.S
☆ US business activity ticks up while euro zone gauge fans recession fears
  + stars: | 2023-10-24 | by ( Dan Burns Jonathan Cable | Dan Burns | Jonathan Cable | ) www.reuters.com   time to read: +6 min
In the United States, the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. HEADACHE FOR THE ECBIn the euro zone, business activity drooped as demand fell in a broad-based downturn across the region, causing the bloc to enter the fourth quarter on the wrong foot and suggesting it may slip into recession. "The flash PMIs mark a poor start to October for the euro zone, especially after showing some early signs of recovery in September," said Rory Fennessy at Oxford Economics. Suggesting a recession is well underway in Germany, Europe's largest economy, business activity contracted there for a fourth straight month as the downturn in manufacturing was matched by a renewed decline in services, its PMI showed. In France, the euro zone's second-largest economy, business activity remained in contraction territory in October, PMI data showed, improving just slightly from September's near three-year low.
Persons: Rebecca Cook, Chris Williamson, Christine Lagarde's, Rory Fennessy, Williamson, Ajay Banga, Dan Burns, Jonathan Cable, Lindsay Dunsmuir, Andrea Ricci Organizations: Ford Rouge Electric Vehicle, REUTERS, P Global, Composite, Federal, Commerce Department, Reuters, P, P Global Market Intelligence, P Global PMI, September's, European Central Bank, Oxford Economics, PMI, European Union, Bank of, Palestinian, Hamas, Thomson Locations: Dearborn , Michigan, U.S, United States, joblessness, Germany, Europe's, France, September's, Britain, Gaza, Ukraine
☆ Global factory output slumps as weak demand weighs
  + stars: | 2023-07-03 | by ( Jonathan Cable Leika Kihara | Jonathan Cable | Leika Kihara | ) www.reuters.com   time to read: +5 min
In Asia, while factory activity expanded marginally in China, it contracted in Japan and South Korea as Asia's economic recovery struggled to maintain momentum. REUTERS/Siyi LiuChina's Caixin/S&P Global manufacturing PMI eased to 50.5 in June from 50.9 in May, the private survey showed. The figure, combined with Friday's official survey that showed factory activity extending declines, adds to evidence the world's No. South Korea's PMI fell to 47.8 in June, extending its downturn to a record 12th consecutive month on weak demand in Asia and Europe. Factory activity also contracted in Taiwan, Vietnam and Malaysia, the PMI surveys showed.
Persons: Rory Fennessy, lockdowns, Toru Nishihama, Siyi Liu China's, Jonathan Cable, Sam Holmes, David Evans Organizations: PMI, European Central Bank, Oxford Economics, P, Dai, Research, REUTERS, P Global, Reuters, Jibun, of, International Monetary Fund, Thomson Locations: Japan, South Korea, China, TOKYO, Europe, Britain, Asia, United States, European, U.S, Dezhou, Shandong province, South, Taiwan, Vietnam, Malaysia, of Japan's
☆ The Eurozone Economy Shows Signs of Modest Growth
  + stars: | 2023-04-28 | by ( Liz Alderman | ) www.nytimes.com   time to read: +2 min
Why It Matters: The eurozone economy has regained its footing — for now. But countries swiftly stockpiled energy reserves, and a mild winter, together with mass conservation efforts, helped Europe avoid the worst. The data show that the eurozone economy is regaining its footing — though only slowly. On an annual basis, growth contracted in the first quarter from a year ago by0.1 percent in the eurozone’s largest economy. Growth picked up in Italy, Belgium and Spain, and jumped further ahead in Portugal, where the economy expanded 1.6 percent in the first three months.
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