world economic news

World Economic News – 06/10/2022

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THE NETHERLANDS

The Netherlands’ annual inflation rate soared by a record 14.5% in September from 12.0% a month earlier, the country’s statistical office CBS said on Thursday. It was the fastest rise in consumer prices since the series began in 1971, mainly boosted by higher prices in energy, largely due to gas (229% vs 170.1%) and electricity (188.1% vs 149.6%). On a monthly basis, consumer prices went up by 2.4% in September, the most in six months, following a 2.0% gain in August.

GERMANY

Germany’s factory orders slipped by 2.4% in August compared to the previous month, data from Destatis showed on Thursday. Economists had forecast a moderate 0.7% drop in August. Domestic orders and foreign orders fell 3.4% and 1.7%, respectively.

PHILIPPINES

The Philippines’ consumer price index grew 6.9% annually in September, following a 6.3% rise in August, data from the Philippine Statistics Authority showed on Wednesday. The latest inflation was the highest since October 2018, the agency said. The statistical office attributed the high inflation to a 7.4% annual increase in food and non-alcoholic beverages and a 7.3% surge in prices of housing, water, electricity, gas, and other fuels.

UK

The activity in the UK’s construction sector grew in September, a report by S&P Global and CIPS showed. The seasonally adjusted S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) stood at 52.3, increasing from August’s reading of 49.2 and returning to growth for the first time since June.