world economic news

Economic News Daily – Monday 27/06/2022



Industrial profits dropped 6.5% on a yearly basis, following April’s 8.5% decline, the National Bureau of Statistics (NBS) said on Monday. Industrial firms’ profits grew 1.0% year-on-year to 3.44 trillion yuan ($514 billion) in January-May, slowing from the 3.5% increase in the first four months, the NBS data also showed.


The leading index, which measures future economic activity, rose to 102.9 in April from 100.8 in March, final data from the Cabinet Office showed on Monday. The score matched the initial estimate published on June 7. The coincident index that measures the current economic situation remained unchanged at 96.8 in April.


The University of Michigan’s Surveys of Consumers said consumers expect inflation to rise at a 5.3% annualized rate as of the end of June. That’s down from a preliminary reading released earlier this month, which showed inflation was expected by consumers to increase at a 5.4% clip.


Finland’s producer prices climbed 31.7 percent year-on-year in May, following a 29.2 percent increase in April, driven by higher prices for oil products, basic metals, chemicals and chemical products, data from Statistics Finland showed on Monday.