world economic news

Economic News Daily – Friday 13/05/2022

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US

Consumer sentiment in the world’s largest economy tumbled to 59.1 in May from 65.2 in April, a preliminary report by the University of Michigan showed on Friday. Economists had expected the index to edge down to 64.0.

CHINA

Banks extended CNY 645.4 billion in new yuan loans in April compared to the expected level of CNY 1.51 trillion and March’s lending of CNY 3.13 trillion, data from the People’s Bank of China showed Friday. Aggregate financing totaled CNY 910.2 billion versus CNY 4.65 trillion in March.

FRANCE

Annual inflation rate in France stood at 4.8% in April, the highest since October of 1985, compared to 4.5% in March, final data from the statistical office INSEE showed Friday. Prices accelerated for services, food and manufactured goods.

TURKEY

Turkish industrial production advanced a calendar adjusted 9.6% year-on-year in March, slower than the 13.3% surge in February but above market expectations of a 6.5% rise. Production has been rising since July 2020. Output eased for both durable and non-durable consumer goods, data from the Turkish Statistical Institute showed on Friday.