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Top StoriesItaly Industry Output Jumps Unexpectedly in April, Getting Q2 Off to Strong Start
Top StoriesUkraine and Russia: What You Need to Know Right Now
Top StoriesPutin Says No Iron Curtain Will Close Off Russia’s Economy
Top StoriesECB Raises Inflation, Cuts Growth Forecasts
Greek Inflation Jumps to 11.3% Y/y in May, a 29-year High
Date: June 9, 2022
ATHENS (Reuters) – Greece’s annual consumer inflation jumped to its highest level in 29 years in May at 11.3% on the back of surging costs for energy, housing, transportation and foods, official data showed on Thursday. Inflation quickened from 10.2% in April, according to statistics service ELSTAT. Month-on-month consumer inflation rose 0.7%. Greece’s annual EU-harmonised...
Hungary Issues Fx Benchmark Bonds Worth $3.8 Billion, Minister Says
Date: June 9, 2022
BUDAPEST (Reuters) -Hungary has issued foreign currency benchmark bonds worth a total of $3.8 billion, which will help it preserve economic stability, Finance Minister Mihaly Varga said on Thursday. The bond issue comes after Hungary on Tuesday lifted its 2022 foreign currency borrowing target by the equivalent of 2.5 billion euros amid a stand-off with...
Russia’s Economic Slump Will Wipe Out 15 Years of Gains – Iif
Date: June 8, 2022
LONDON (Reuters) -Russia’s economy will shrink 15% this year and 3% in 2023 as the hit from Western sanctions, an exodus of companies, a Russian “brain-drain” and collapse in exports wipe out 15 years of economic gains, a global banking industry lobby group said. In its report on the Russian economy following Moscow’s invasion of...
Wall Street Futures Slip as Growth Fears Mount
Date: June 8, 2022
By Elizabeth Howcroft LONDON (Reuters) -European stocks fell on Wednesday and Wall Street futures were in the red as worries about weak global growth in the face of central bank tightening weighed on markets. The OECD slashed its growth outlook and raised its inflation estimates – although it said there was a limited risk of...
OECD Says UK Economy to Flat-Line in 2023, Urges More Support
Date: June 8, 2022
LONDON (Reuters) – Britain’s economy will stagnate in 2023 in the face of high inflation, lagging behind its peers, and the government should consider easing up on tax increases or spending more, the Organisation for Economic Co-operation and Development said. “The government should consider slowing fiscal consolidation to support growth,” the OECD said in a...
Italy Statistics Bureau Cuts Growth Forecasts, Warns of “strong Downside Risks”
Date: June 7, 2022
By Gavin Jones ROME (Reuters) – Italy’s economy will grow by 2.8% this year, national statistics bureau ISTAT said on Tuesday, slashing a 4.7% projection made in December as high raw material prices and the war in Ukraine weigh on the outlook. In its twice-yearly forecasting report, ISTAT projected that gross domestic product in the...