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Euro zone eyes temporary, targeted energy support amid high inflation
Euro zone factory activity declined again in Sept as energy bills bite -PMI
Date: October 3, 2022
LONDON (Reuters) – Manufacturing activity across the euro zone declined further last month as a growing cost of living crisis kept consumers wary while soaring energy bills limited production, a survey showed on Monday. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to a 27-month low of 48.4 in September from August’s 49.6, just...
Factbox-The UK’s top tax rate – what is it and why does it matter?
Date: October 3, 2022
LONDON (Reuters) – British finance minister Kwasi Kwarteng on Monday abruptly dropped his plan to eliminate the top rate of income tax, part of his Sept. 23 “mini budget” that triggered a rout of sterling and government bonds in financial markets. Following are some key points about the 45% tax rate. WHEN WAS IT INTRODUCED?...
World factory activity weakens on global slowdown, cost pressures
Date: October 3, 2022
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Global factory output mostly weakened in September as slowing demand added to the pain from persistent cost pressures and tighter monetary policy, surveys showed on Monday, diminishing economic recovery prospects. The data clouds the outlook for a sustained recovery from the COVID-19 pandemic and could add to...
Central Europe’s manufacturing strain reaches Hungary
Date: October 3, 2022
By Jason Hovet and Gergely Szakacs (Reuters) -Hungary’s manufacturing activity shrank for the first time in 17 months in September, a survey showed on Monday, and output kept falling in the Czech Republic and Poland as high inflation and soaring energy costs sharpened their impact in central Europe. Hungary joined its central European peers in...
Polish central bank seen hiking by 25 bps as CPI keeps rising: Reuters Poll
Date: October 3, 2022
By Alan Charlish WARSAW (Reuters) – Poland’s central bank is expected to raise its main interest rate by 25 basis points to 7.00% on Wednesday, a Reuters poll showed, as rising inflation forces policymakers to continue tightening despite the risks of an economic slowdown. Central bank governor Adam Glapinski has said rates could stay on...
UK manufacturing PMI shows falling output, weak foreign demand
Date: October 3, 2022
LONDON (Reuters) – British manufacturing output fell for a third month in a row in September and orders declined for a fourth consecutive month, hurt by falling foreign demand, according to a closely watched survey released on Monday. The S&P Global manufacturing Purchasing Managers’ Index (PMI) rose to 48.4 from August’s 27-month low of 47.3...