world economic news

Economic News Daily – Tuesday 28/06/2022



Consumer confidence in Germany dropped to a new record low in July, market research institute GfK said in a report released on Tuesday.  “Above all, the increase in the cost of living, which is almost eight percent at present, is weighing heavily on consumer sentiment and sending it into a downward spiral,” GfK Consumer Expert Rolf Buerkl stated in the report. The consumer confidence index dropped to -27.4 in July from revised -26.2 in June. The score was forecast to fall to -27.6.


The consumer confidence index fell to 82 in June from 85 in May, weakening for the sixth straight month to reach its lowest level in nearly nine years, monthly survey results from the statistical office Insee showed on Tuesday.


Malaysia’s Producer prices climbed 11.2 percent year-over-year in May, following an 11.0 percent rise in April, figures from the Department of Statistics showed on Tuesday. Prices for mining increased the most, by 20.6 percent annually in May, while prices for agriculture, forestry and fishing rose 16.7 percent.


Mexico’s trade balance showed a shortfall of $2.215 billion in May versus a surplus of $387 million in the corresponding month last year, as imports grew much faster than exports, data from the National Institute of Statistics and Geography showed on Monday.