world economic news

Economic News Daily- Monday 04/04/2022

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TURKEY
Turkey’s inflation hit a new record in March, according to the country’s statistics agency. Consumer prices accelerated to 61.14% at an annual rate, up from 54.4% in February, as analysts see an impact from the war in Ukraine and President Recep Tayyip Erdogan’s interest rate policy.

EUROZONE
Investor confidence across the Eurozone collapsed in April, falling to its lowest level since the middle of 2020, signalling the start of a recession according to a report released by Sentix on Monday. “Both the situation and the expectations indexes are now negative, and the economy is thus beginning to shrink. At the moment, no other global region can provide a real counterbalance. Even the Asian region is already stagnating,” the report stated.

GERMANY
Germany’s  exports rebounded in February, growing 6.4%  on a monthly basis, reversing a 3.0% fall in January, data from Destatis showed on Monday. Imports rose 4.5% in February, in contrast to the 4.0%  fall a month ago.

INDIA
India’s factory activity eased to the joint-weakest rate since September last year, as inflationary pressures led by geopolitical turmoil weighed on business confidence, and new orders and production, survey results from S&P Global showed on Monday.

AUSTRALIA
Australia’s job advertisements grew for the second straight month in March, albeit at a softer pace, data released by ANZ showed on Monday. Job advertisements increased 0.4% month-on-month last month, after a 10.9% growth in February.