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Turkey's manufacturing output contracted in May as lockdowns designed to curb the spread of COVID-19 were in place for most of the month, according to IHS Markit. The Istanbul Chamber of Industry Turkey Manufacturing PMI fell to 49.3 in May, falling below the 50.0 threshold that separates expansion from contraction.This compares with 50.4 in April, and the first time it … [Read more...] about Turkey’s Manufacturing Sector Contracts For First Time in a Year

The Eurozone factory output soared to a record high in May as operating conditions improved during the month, according to IHS Markit. The headline PMI climbed to 63.1, the highest reading in the survey history data dating back to June 1997.This compares with 62.9 in April, and marks the 11th straight month of expansion after falling above the 50.0 threshold that separates … [Read more...] about Eurozone Output Expands For 11th Straight Quarter to Carve Record High

The Swiss economy fell back to negative territory in the first quarter as tightened restrictions impacted growth, the federal statistical office reported. First-quarter GDP stood at -0.5%, after two consecutive quarters of growth. This compares with -6.8% the same quarter in 2020.The biggest decline was recorded in accommodation and food services which fell 30.4% as … [Read more...] about Switzerland’s GDP Shrank 0.5% in the First Quarter

Gold is expected to carve fresh highs this year on the back of the inflation uptick, “Fat Prophets” analyst told CNBC. Fat Prophets Resources Analyst David Lennox is betting on gold as a surge in prices usually comes with higher inflation readings.Should prices surge, Lennox urged investors to look into gold exchange-traded funds to score one-on-one price movement without … [Read more...] about Investors Can Still Take Part in the Anticipated Gold Rally – Analyst