The German economy grew marginally in the third quarter after a contraction, preventing a technical recession, official data revealed Friday. Gross domestic product posted a sequential growth of 0.1 percent in the third quarter, revised data from Destatis showed. The rate was downgraded from 0.2 percent estimated on October 30. In the second quarter, GDP...
UK retail sales declined more than expected in October as consumers reduced their spending on food and clothing, data released by the Office for National Statistics showed on Friday. Retail sales dropped 0.7 percent on a monthly basis in October, in contrast to the revised 0.1 percent rise in September. Sales were expected to fall...
Germanys private sector continued to contract in November as sustained weakness in manufacturing output was compounded by the first fall in services activity for nine months, flash Purchasing Managers survey compiled by S&P Global showed Friday. The HCOB composite output index dropped to 47.3 in November from 48.6 in the previous month. The score signaled...
The euro weakened against other major currencies in the European session on Friday, as traders bet a possibility of an interest-rate cut by the European Central Bank (ECB) after data from Germany and the Eurozone showed that the business activity in the private sector contracted in November. Concerns about trade war with the United States...
The major European markets are turning in a mixed performance on Friday with investors reacting to regional economic data and corporate news, in addition to following developments on the geopolitical front. Bank stocks are mostly down with notable losses, while real estate and retail stocks are finding support. Data showing an increase in consumer confidence...
Renewed rate cut bets helped the FTSE 100 outperform other markets in Europe amidst disappointing economic data updates. The benchmark is trading above 8,200, the highest since late October. More than 10 percent of the scrips in the index have recorded gains in excess of 3 percent. Retail sales declined 0.7 percent in October versus...
The euro area private sector fell back into the negative territory in November as services activity shrank for the first time in ten months, joining manufacturing in contraction zone, survey results from S&P Global revealed Friday. The composite output index registered 48.1 in November, which was the lowest since January, and down from 50.0 in...
The US Consumer Financial Protection Bureau or CFPB has finalized a rule to supervise Apple Inc. and other major technology firms that offer digital funds transfer and payment wallet apps, and treat them more like banks. In a statement, the US consumer watchdog said the rule on federal oversight of popular digital payment apps by...
Consumer sentiment in the U.S. improved less than previously estimated in the month of November, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for November was downwardly revised to 71.8 from the preliminary reading of 73.0. While the downward revision surprised economists,...
European stocks closed on a firm note on Friday as some weak economic data raised expectations that the central banks will reduce interest rates further to boost growth. In addition to digesting regional economic data, investors continued to follow the developments on the geopolitical front. Bank stocks ended notably lower, while real estate and retail...