Italy, France and Germany suffer in January as Eurozone services output declines to five-year lows February 5, 2019 Italy’s service sector saw a drop in business activity and jobs in January, while Germany and France also suffered as the Eurozone’s economic woes continued. Business activity in the Italian services sector fell as international demand declined for seventh consecutive month. The pace of new order growth eased from December, just above November’s 45-month low, [...]
Every day, we vote with our clicks that we value Facebook February 5, 2019 With front-page headlines including “Facebook paid kids and spied on them”, “Generation of web addicts”, “Wild West Web firms facing ban”, and “Stop online giants who help kill our kids”, it’s fair to say that it has not been the best UK press week for social media firms. Poor old Nick Clegg must have thought that [...]
The trade war in your head? A look behind the US-China feud February 5, 2019 As the US-China talks resume this week, the spectre of global trade disintegration on looms ever larger. There is one month for Donald Trump and Xi Jinping to strike a deal before the 90-day ceasefire in tit-for-tat rhetoric expires. At stake is $200bn of Chinese exports to the US, which will otherwise see tariffs rise [...]
The world’s booming middle class still holds the key to the City’s future February 5, 2019 Billions of people have escaped poverty over recent decades, in what is arguably humanity's greatest success story. Figures last autumn, moreover, estimated that five people join the world's burgeoning middle class every second. Much of the success is concentrated in Asia, a picture that looks set to continue according to fresh data published by PwC [...]
Confidence in the UK economy among financial services professionals hits record low February 4, 2019 Confidence in the UK’s economic prospects among financial services professionals is at a record low, a new survey showed today. A poll of its members by trade body the Chartered Institute for Securities & Investment (CISI) showed confidence was at its lowest level since it began the survey in 2012. Of the 1,062 respondents, 55 [...]
Eurozone investor confidence slumps to four-year low as German slowdown and Brexit concerns hit the bloc February 4, 2019 Eurozone investor confidence has sunk to a four-year low as Brexit uncertainty and Germany’s continued slowdown added to the bloc’s woes. The Sentix Index, which monitors investor sentiment across the single currency bloc, fell to -3.7 for February, following a survey of more than 1,000 investors. Read more: Italy slips into recession as Eurozone growth disappoints [...]
UK construction activity slows to weakest growth in 10 months as Brexit ‘anxiety’ harms the sector February 4, 2019 The UK construction sector eased to its slowest growth for ten months in January as the industry lost momentum. Output in commercial, residential and civil engineering construction fell from December and employment growth slowed to a two and a half year low, according to the IHS Markit / CIPS UK construction Purchasing Managers' Index. Construction [...]
More than three quarters of CFOs believe the UK will be worse off out of the EU, says Deloitte February 4, 2019 More than three-quarters of chief financial officers believe the UK will be worse off as result of leaving the EU, a new Deloitte survey has found. Approximately 80 per cent of CFOs surveyed by the big-four accountant said they expected the long-term business environment to be worse on leaving the EU. The UK is scheduled to leave [...]
US jobs grow by 304,000 despite government shutdown and earnings surge February 1, 2019 The US economy added more than 300,000 jobs in January despite the government shutdown, far ahead of forecasts. Jobs have now grown in the US for a record 100 consecutive months, dating back to October 2010. Despite forecasts of a further 170,000 jobs, the US labour market gained 304,000 in January, according to non-farm payroll [...]
DEBATE: With Italy now in recession, is the nation facing an economic crisis? February 1, 2019 With Italy now in recession, is the nation facing an economic crisis? Beatrice Faleri, economist and freelance writer originally from Italy, says YES. Less than a month ago, Italy’s Prime Minister boasted of a forthcoming “economic boom”. Yesterday, in a somewhat comical U-turn, he reported that, in fact, the country has entered an economic recession. GDP [...]