Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …
Read More »German GDP Shrinks at Record Rate in Q2
The German economy contracted in the second quarter of 2020 by 10.1% vs. -9.0% expected, it’s the biggest decline on record, as shown by preliminary data on Thursday. On a yearly basis, the German gross domestic product (GDP) contracted 11.7% vs. -10.9% decline expected by analysts, according to the German …
Read More »Germany’s Unemployment Rate Declined in July
The seasonally adjusted unemployment rate in Germany came in at 6.4% in July vs. 6.5% expected. The figure is better than expected by analysts. Data released earlier beat expectations with the unemployment change falling by 18k in seasonally adjusted terms compared to estimates of an increase of 43k. The adjusted …
Read More »Federal Reserve Maintains Interest Rates
The United States Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) has decided to maintain interest rates at a range between 0% and 0.25%.
Read More »US Wholesale Inventories Down 2%
Wholesale inventories in the United States declined by 2% during June, against market expectations of a 0.5% decline. Meanwhile, retail inventories fell by 2.6%, below market estimates of a 2.7% decline.
Read More »US Pending Home Sales Up 16.6%
The Pending Home Sales Index in the United States rose by 16.6% to 116.1 in June, according to data released by the National Association of Realtors on Wednesday. Pending home sales also increased by 6.3% on an annual basis.
Read More »Dallas Fed Manufacturing Index Improves in July
The Federal Reserve Bank of Dallas manufacturing general business activity index improved in July to -3 from -6.1 in June. The company outlook index registered a second consecutive positive reading, increasing three points to 5.9. Meanwhile, the index measuring uncertainty regarding companies’ outlooks surged from 9.1 to 20.9. The Texas …
Read More »US Durable Goods Orders Increased by 7.3% in June
Durable goods orders in the United States continued to rise in June, as the US Census Bureau reported on Monday that durable goods orders in the United States rose 7.3% MoM to $ 206.9 billion in June after an increase of 15.1% in May, better than forecasts of 7.2%. Excluding …
Read More »US New Home Sales Rise by 13.8%
Data by the US Department of Commerce showed on Friday that new home sales in the United States increased by 13.8% to a seasonally adjusted annual rate of 776,000 units in June. Meanwhile, May’s revised reading stood at 682,000 units. On Wednesday, data by the National Association of Realtors showed …
Read More »Russian Central Bank Cuts Key Rate
The Russian Central Bank cut its key interest rate to a record low of 4.25% on Friday and stated that it would consider the need for further monetary easing amid low inflation and a shrinking economy. The 25bp cut was in line with the Reuters poll, with expectations to cut …
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