UK’s economy is shrinking after Brexit vote, may prompt more government spending

Britain’s economy is shrinking, the broadest survey of business confidence since last month’s historic vote to quit the European Union showed on Friday, piling pressure on new Prime Minister Theresa May’s government to soften the impact. Philip Hammond, the new finance minister, had already hinted at loosening the national purse strings…

UK manufacturing hits 3-year low amid falling exports, lack of domestic demand

Britain’s factories suffered their worst month in three years in April as falling export orders and a lack of domestic demand for consumer goods squeezed manufacturing output. Growth in factory output has been on the slide for a year, but last month the manufacturing sector contracted for the first time since March 2013. Economists believe the decline will drag on GDP growth this year…

U.S. economy loses momentum as manufacturing contracts, construction spendung falls

The U.S. manufacturing sector contracted further in December, as the impact of a stronger U.S. dollar undermined export profitability, while U.S. construction spending fell for the first time in nearly 1-1/2 years in November, suggesting only moderate economic growth in the fourth quarter of 2015. The U.S. Institute for Supply Management (ISM) said its index […]

Eurozone composite PMI falls to 53.4 in May: Markit

The eurozone’s economy slowed for the second straight month in May, according to surveys of purchasing managers, a sign that it is struggling to quickly recover from the damage inflicted by its long debt crisis. The surveys continue to indicate that the eurozone economy has emerged from a long period of near stagnation, aided by lower oil prices, a weakening euro and firming confidence following the European Central Bank’s launch of a new stimulus program…

U.S. Markit services PMI slips to 57.4 in April, hiring accelerates

(Reuters) – The pace of expansion in the U.S. services sector eased from a seven-month high in April on a dip in new business growth, but hiring in the sector accelerated to its highest since June, an industry report showed on Tuesday. Financial firm Markit said its final reading of its Purchasing Managers Index for the services sector slipped to 57.4 in April, a level that was down from both the preliminary April read of 57.8…

Euro zone price discounting in March drove growth, business activity to fastest rate in nearly a year

(Reuters) – Price discounting drove growth in all of the euro zone’s major economies in March, helping business activity increase at its fastest rate for nearly a year, a survey showed on Tuesday. New orders came in at their fastest rate since May 2011 and the survey found that companies have now been cutting prices for three years, although not as sharply in March as before…

U.S. flash preliminary services PMI jumps to 57.0 in February: Markit

(Reuters) – The U.S. services sector expanded in February at its fastest pace since October, with businesses reporting customers boosting orders because of improving economic conditions, an industry report showed on Tuesday. Financial data firm Markit said its preliminary, or “flash,” reading of its Purchasing Managers Index for the service sector rose to 57.0 in February from a final reading of 54.2 in January…

Markit U.S. flash services PMI rises to 56.1 in November

Nov 24 (Reuters) – The U.S. services sector expanded in November at a slower rate than the previous month as growth in new business slowed, an industry report showed on Monday. Financial data firm Markit said its “flash” services Purchasing Managers Index hit 56.3 in November, slightly below expectations and the lowest since April, compared with October’s final reading of 57.1…

U.S. flash services PMI slips to 57.3 in October: Markit

(Reuters) – The pace of growth in the U.S. services sector slowed in October compared with the previous month to its lowest level in six months, a survey showed on Monday. The flash services sector Purchasing Managers Index compiled by information services company Markit slipped to 57.3 in October from 58.9 in September…

U.S. manufacturing activity falls to 57.5 in September, but stays strong: Markit

(Reuters) – America’s manufacturing industry expanded in September, though a tad slower than during August, while employment in the sector grew at its best pace since March 2012, an industry report showed on Wednesday. Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index turned down to 57.5…

Euro zone growth stumbles while China factory activity picks up

(Reuters) – Euro zone business growth dipped to a 2014 low in September as firms again cut prices, while factory activity in China picked up only slightly, surveys showed, keeping the spotlight on policymakers’ plans for economic stimulus. The data seems sure to dishearten the European Central Bank…

Top 10 Weekly Forex Market Headlines – 09.05.2014

1. EU readies tougher sanctions on Russia as Kiev warns of invasion force September 2, European officials proposed sweeping new sanctions on Tuesday to starve Russia’s companies of capital and technology as punishment for Moscow’s intervention in Ukraine, where Kiev officials said Russia was bolstering an “invasion” force… 2. U.S. ISM manufacturing PMI hits near […]

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