gdp
Top StoriesFrench Manufacturing Activity at Seven-Month Low in May -PMI
Top StoriesItaly May Manufacturing Growth Slows Amid Shortages, Weak Demand -PMI
Top StoriesBacklogs, More Staff Help German Factories Against Headwinds -PMI
Top StoriesFrench Economic Growth Figures to Be Revised -Le Maire
Italy Revises up Q1 GDP to +0.1% Q/q vs Prelim -0.2%, Supported by Investments
Date: May 31, 2022
ROME (Reuters) – Italy’s economy grew 0.1% in the first quarter from the previous three months, national statistics bureau ISTAT said on Tuesday, sharply revising up a preliminary estimate of a 0.2% contraction. On a year-on-year basis, first quarter GDP was revised up to show growth of 6.2%, compared with the 5.8% printout in ISTAT’s...
Bank of Spain Sees EU GDP Hit by up to 4.2% if Russia Imports Banned
Date: May 31, 2022
By Jesús Aguado MADRID (Reuters) – A potential halt of energy imports from Russia would have a negative short-term economic impact of eroding gross domestic product for the European Union as a whole by between 2.5% and 4.2%, Spain’s central bank said on Tuesday. The Bank of Spain said in an analytical report that the...
China to Halve Purchase Tax for Small-Engine Cars
Date: May 31, 2022
SHANGHAI (Reuters) -China’s purchase tax for small-engine cars will be halved, the s Ministry of Finance said on Tuesday, in a move to boost auto sales and support an economy damaged by locked downs imposed in major cities to stamp out outbreaks of COVID-19 . The government will cut the tax for cars priced at...
French Economy Shrank in First Quarter as Inflation Unnerves Consumers
Date: May 31, 2022
PARIS (Reuters) – France’s economy shrank unexpectedly in the first quarter as consumers struggled to cope with surging inflation, official data showed on Tuesday, putting pressure on President Emmanuel Macron heading into legislative elections this month. The INSEE statistics agency said the euro zone’s second-biggest economy contracted 0.2% in the three months through March from...
Swiss Economic Expansion Set to Slow but Not Stall – Gov’t
Date: May 31, 2022
By John Revill ZURICH (Reuters) -Switzerland’s economic upswing is expected to ease this year as higher inflation, the war in Ukraine and renewed Chinese lockdowns slow the post-pandemic recovery that generated 0.4% growth in the first quarter, the government said on Tuesday. Rising prices are proving a drag on many European economies as they reduce...
Weekly Economic Update: A Ray of Hope
Date: May 30, 2022
By Rupert Thompson, Investment Strategist at Kingswood Equity markets bounced strongly last week, posting their first weekly gain in nearly two months. Global equities rose 4.5% in local currency terms, leaving markets down 11% from their highs. In a further reversal of recent trends, the US was the strongest performer, gaining 6.6% as growth stocks...