world economic news

Economic News Daily – Friday 24/06/2022



The Business Climate Index in Germany dropped to 92.3 in June from 93 in May and below expectations, the Institute for Economic Research (Ifo) said on Friday. The Current Assessment Index fell to 99.3, compared to 99.5 in May, while the Expectations Index eased to 85.8 in June from 86.9 in the previous month.


Retail sales decreased 0.5% in May compared to the previous month, the Office for National Statistics reported on Friday. The UK’s statistics agency said the 1.6% decrease in the volume of food sales appeared to be linked to inflation, which as measured by the consumer prices index hit a 40-year-high of 9.1% in May.


The annual inflation rate in Japan stood at 2.5% in May, unchanged from April’s 7-1/2-year high figure and in line with market consensus, the Ministry of Internal Affairs and Communications said on Friday. This was also the 9th straight month of rises in consumer prices, with food inflation hitting its highest in over 7 years (4.1% vs 4% in April).


The Dutch economy increased by 0.4% on quarter in the three months to March 2022, compared to a preliminary estimate of a flat reading, after a downwardly revised 0.7% gain in the previous period. It was the weakest growth in the GDP since the first quarter 2021, as household consumption grew softer (1.5% vs 3.6%), while government spending fell by 0.6%, reversing sharply from a 5.2% rise in Q4 2021.