Economic News Daily – Friday 13/05/2022

US Consumer sentiment in the world’s largest economy tumbled to 59.1 in May from 65.2 in April, a preliminary report by the University of Michigan showed on Friday. Economists had expected the index to edge down to 64.0. CHINA Banks extended CNY 645.4 billion in new yuan loans in April compared to the expected level of CNY 1.51 trillion and March’s lending of CNY

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Economic News Daily – Thursday 12/05/2022

PHILIPPINES The Philippine GDP increased by 8.3% year-on-year in Q1 2022, topping market consensus of 6.6%, as the relaxation of pandemic restrictions boosted a broad-based recovery, data published by the Philippine Statistics Authority showed Thursday. UK The British economy expanded 8.7% year-on-year in Q1 2022, above 6.6% in Q4 but slightly below forecasts of 9%, data released by the Office for National

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Economic News Daily – Wednesday 11/05/2022

GERMANY Germany’s Consumer Price Index (CPI) was confirmed at 7.4% in April, the highest level since 1981 and accelerating from 7.3% in the previous month, mainly boosted by rises in prices of energy (35.3% vs 39.5%) and food (8.6% vs 6.2%), the Federal Statistical Office announced on Wednesday, confirming the preliminary report. CHINA China’s annual inflation rate accelerated to 2.1% last month

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Economic News Daily – Tuesday 10/05/2022

EU Multinational investment bank Citibank forecasts the European Central Bank will hike rates by 25 basis points in July and then by another 25 basis points in September. The bank also said that the relatively quick return to zero or slightly above zero is expected to be accepted by the European Central Bank decision-makers. GERMANY German economic sentiment indicators improved by 6.7

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Economic News Daily – Monday 09/05/2022

CHINA China’s trade surplus expanded to $51.12 billion in April when compared to last month’s $47.38 billion, surprising investors’ expectations, the country’s General Administration of Customs said on Monday. The country’s exports increased by 3.9% in yuan terms on an annual basis, while imports stood unmoved on a monthly basis, falling below analysts’ projections. JAPAN The seasonally adjusted Japan Services Business Activity

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Economic News Daily – Friday 06/05/2022

AUSTRIA  Austria’s wholesale price inflation increased 26% yearly in April, the highest since the series began in 1973, data from Statistics Austria showed on Friday. There were significant price increases for solid fuels (+109.5%), other petroleum products (+97.4%), iron and steel (+85.8%), fertilizers and agrochemicals (+ 82.6%). On a monthly basis, wholesale prices went up by 0.9%. UK At 58.2 in April,

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Economic News Daily – Tuesday 26/04/2022

SOUTH KOREA South Korea’s gross domestic product (GDP) grew a seasonally adjusted 0.7 per cent in the first quarter from the last quarter of 2021, preliminary data from the Bank of Korea (BOK) showed on Tuesday (April 26). That exceeded expectations for an increase of 0.6 percent following the 1.2 percent expansion in the previous three months. JAPAN Japan’s unemployment rate stood

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