world economic news

World Economic News – Wednesday 06/07/2022



Real (price adjusted) new orders in manufacturing remained almost the same (+0.1%) on a seasonally and calendar adjusted basis, in May 2022 compared with April 2022, according to provisional results of the Federal Statistical Office (Destatis). Not including major orders, a 0.9% decrease in new orders in manufacturing was recorded in May 2022. Compared with May 2021, new orders were by a calendar adjusted 3.1% lower.


The Bank of England on Tuesday said the economic outlook for the UK and the world has deteriorated significantly as war-driven hikes in energy and other commodity prices have exacerbated inflationary pressures arising from the pandemic. “Tighter conditions would increase the pressures already facing households and businesses and the serviceability of public sector debt in some countries, including in the euro area,” it underlined.


The au Jibun Bank services Purchasing Managers’ Index advanced to 54.0 in June from 52.6 in May. The index signaled the fastest growth since October 2013. There was a second successive monthly expansion in new business. The rate of growth remained strong amid improved client confidence.


Industrial production rose a calendar-adjusted 0.2 percent year-over-year in May, reversing a 0.3 percent decline in April, which was the first contraction in four months, data from Statistics Sweden showed on Wednesday.