Economic news

US manufacturing activity slowed in November as a resurging coronavirus spread hit the nation, forcing workers to stay at home and shutting down factories temporarily. The Institute for Supply Management’s index of national factory activity fell to a 57.5 reading in November from a 59.3 previous outing, the highest since November 2018. The manufacturing activity […]

The British economy will shrink in the final quarter of the year and GDP will likely take two years to reach pre-pandemic levels, a Reuters poll said on Wednesday. The poll also predicted the UK will ink a free trade deal with the European Union. After seeing a soaring 15.5% growth in the third quarter, […]

The dollar was under pressure on Tuesday following its worst close since July as investors awaited more U.S. monetary easing. The Aussie and the kiwi recovered some of Monday’s losses, each climbing 0.2% in early Asian trade. The euro climbed 0.1% just below $1.20, while the pound held onto its gains against the dollar as […]

Oil prices fell on Tuesday amid worries about oversupply after major producers delayed talks on 2021 production policy for extending output cuts. Brent crude fell 0.4%, or 20 cents, at $47.68 per barrel following a 1% decline in the last session. U.S. West Texas Intermediate dropped 0.6%, or 27 cents, at $45.07 per barrel after […]

U.K. housing market shows no signs of slowing down as lenders approved 13-year high mortgages in October, according to data released by the Bank of England on Monday. However, the figures also showed a growing weariness on day-to-day borrowing among many consumers. Mortgage approvals for house purchase in October reached 97, 532, higher than the […]

Contracts of previously owned homes in the U.S. unexpectedly fell for the second time in a row in October as a shortage of properties pushed up prices, albeit record-low mortgage rates support the housing market. Pending Home Sales Index reported by the National Association of Realtors said on Monday plunged 1.1% to 128.9, referencing on […]

November had seen the fastest pace of growth recorded by China’s factory sector in a decade, a business survey showed on Tuesday. The reading came while the world’s second-biggest economy emerges from the pandemic drag toward its pre-pandemic levels. After hitting 53.6 in October, the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) advanced to 54.9 in […]

Asian share markets started strongly on the first day of December. The series of increases came after investors’ sentiment was greatly supported by the prospect of a vaccine-driven economic recovery, upbeat manufacturing figures from China, and larger volumes of fiscal and monetary support.   MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.08% […]

Japan’s retails sales finally posted upbeat figures after eight months of slump and factory output likely grew for five months in a row. These developments, along with other significant data, were revealed by a Reuters poll on Friday. Trade ministry data is expected to show a 2.1% increase in industrial output month-on-month in October, up […]

Eurozone’s two biggest economies – Germany and France – are suffering from poor consumer confidence in November as new COVID-19 lockdowns were implemented, data from a study showed on Thursday. Several establishments including bars, restaurants, hotels, and entertainment venues were shut again this month in both countries due to the re-imposition of restrictions to contain […]