The British Bankers Association (BBA) announced today that mortgage approvals for house purchases by banks in the United Kingdom continued to fall in May. At 4,289 million GBP (Great Britain Pounds) they are now 64% below the peak of [...]
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Global| Jun 24 2008UK Mortgage Approvals By Banks Continue To Fall
- Global| Jun 23 2008
German Business Confidence Weakens
Business confidence, as measured by the IFO Business Climate Indicator, continued to weaken in June. The percent balance indicator fell to 1.7% from 6.1% in May. This was the lowest value since January 2006. The 7000 business [...]
- Global| Jun 10 2008
Inflation and Monetary Policy in Denmark, Norway and Sweden
The Monetary policy of the Central Bank of Denmark has shadowed that of the European Central Bank while those of Sweden and Norway have tended to be tighter. Currently the official interest rate in Norway is 5.5% and in Sweden, 4.25%, [...]
- Global| Jun 09 2008
More Discouraging News From Japan: Economic Indicators Pointing To Recession And Economy Watchers Continue Gloomy
In its assessment of the April, composite leading, lagging and coincident indicators Japan's Cabinet Office remarked that the indicators were "signaling a possible turning point." The first chart, in which we plot the composite [...]
- Global| Jun 03 2008
Strong First Quarter Growth In The Euro Area, Particularly In Germany
Revised figures for growth in Gross Domestic Product in the Euro Area in the first quarter of this year, published today, were better than the flash estimates reported earlier--an increase of 0.8% instead of 0.7%. Growth in Germany [...]
- Global| Jun 02 2008
Far East Inflation And Easy Monetary Policies Mean Negative Real Interest Rates In The Area
Inflation has risen sharply in most of the Far Eastern countries. Even those countries that had inflation rates below 3% in 2007--Singapore, Thailand, the Philippines and South Korea-- are now showing rates of inflation ranging from [...]
- Global| May 27 2008
European Consumer And Business Confidence Indicators Released Today
Confidence measures were released today for Italy, France, Sweden and the Netherlands. Most showed a continued loss of confidence both by consumers and business. Consumer confidence in the Netherlands and in Sweden are shown in the [...]
- Global| May 20 2008
ZEW Indicator: Current Conditions In Germany Up, Expectations Down--Current Conditions In Euro Area Down, [...]
The Center for European Economic Research (ZEW) released today the results of its latest survey of some 300 analysts and institutional investors. While these representatives of the financial community reported an improvement in their [...]
- Global| May 19 2008
Inflation in Germany: Real Wages and Unit Labor Costs
After rising sharply from 1% in September, inflation in Germany has moderated somewhat. In April 2008 it dropped to 2.41% from 3.10% in March. So far, inflation has not been a serious threat to the economy. Indexes (2005=100) of [...]
- Global| May 13 2008
Rising Inflation And Slowing Economy: A Dilemma For UK's Monetary Policy Committee On June 8
Rising inflation has constrained the Bank of England's monetary policy in its attempt to lower rates to stimulate the slowing economy. After cutting its policy rate from 5.75% to 5.00% on April 10, it held the rate steady on May 8, [...]
- Global| May 12 2008
Inflation in Eastern Europe
Four Eastern European countries--the Czech Republic, Romania, Latvia and Lithuania--reported inflation rates for April today. Inflation rates are shown in the first chart. In April inflation ranged from a low of 6.8% for the Czech [...]
- Global| May 06 2008
Trade Balances for Czech Republic, Malaysia and Australia
The Czech Republic, Australia and Malaysia reported their March trade balances today. The monthly data are shown in the first chart. Australia showed improvement as its deficit declined by A$536 million from February to A$2,544 [...]
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