world economic news

World Economic News – 01/02/2023



House prices in the United Kingdom grew 1.1% in January on a yearly basis, the Nationwide House Price Index report revealed on Wednesday. In comparison to December 2022, the figure declined 0.6%. The country’s average house price in January stood at £258,297, falling from £262,068 recorded in the previous month


Preliminary Eurostat data released Tuesday showed the euro zone grew 0.1% in the fourth quarter. Economists had pointed to a 0.1% contraction over the same period, according to Reuters.

The European Central Bank (ECB) observed in its bank lending survey (BLS) for the fourth quarter of 2022 published on Tuesday, a significant tightening in credit standards for all loan categories from firms to housing, as a result of high-interest rates.


The manufacturing Purchasing Managers’ Index, or PMI, dropped to 55.4 in January from December’s recent high of 57.8, results of the purchasing managers’ survey from S&P Global showed on Wednesday.


The manufacturing sector in Vietnam continued to contract in January, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a manufacturing PMI score of 47.4.


The Japanese Jibun Bank Flash Manufacturing PMI Index landed at 48.9 in January, below the neutral 50 to mark a downturn in Japan’s manufacturing activity, S&P Global’s report released on Wednesday showed.