world economic news

World Economic News – 24/01/2022

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GERMANY

Flash Germany PMI Composite Output Index came in at 49.7, improving on December’s reading of 49.0, to mark the highest point in 7 months, S&P Global revealed on Tuesday. Services PMI Activity Index also reached a 7-month high in January, standing at 50.4, up from 49.2 recorded the previous month.

AUSTRALIA

Australia’s business conditions weakened for a third month in a row in December, survey results from the National Australia Bank showed Tuesday. The NAB business conditions index fell eight points to 12 last month, driven by declines in all three subcomponents, namely trading conditions, profitability and employment.

JAPAN

Japan’s private sector returned to growth territory in January. The au Jibun Bank flash composite output index advanced to 50.8 from 49.7 in the previous month, flash survey results from S&P Global showed Tuesday.

US

The Conference Board said its leading economic index dove by 1.0%  in December after tumbling by a revised 1.1% in November. “There was widespread weakness among leading indicators in December, indicating deteriorating conditions for labor markets, manufacturing, housing construction, and financial markets in the months ahead,” said Ataman Ozyildirim, Senior Director, Economics, at the Conference Board.

POLAND

Poland’s industrial production expanded at the slowest pace in nearly two years in December, figures from Statistics Poland revealed on Monday. Industrial production rose 1.0% annually last month, much slower than the 4.6% increase in November.