Flash Composite Output Index in the U.K fell sharply to 40.6 in January, down from 50.4 in December, according to the IHS Markit press release. The slowdowns reflected national lockdown restrictions due to the coronavirus pandemic. Flash Services Business Activity was 38.8 in January, down from December’s 49.4, an 8-month low due to reduced consumer spending … [Read more...] about U.K Private Sector Output hits Steepest Fall Since May, Enters Contraction Zone
Forex News
Eurozone Economy Experiences Record Drop in Early 2021
The flash Composite PMI for Eurozone fell from 49.1 in December to 47.5 in January, a third successive monthly decline, according to the IHS Markit press release. January’s PMI signals slowdowns in business activity and the steepest deterioration since November on fresh lockdowns amidst the new coronavirus strain. Flash Services PMI fell to 45.0 in January, down from 46.4 … [Read more...] about Eurozone Economy Experiences Record Drop in Early 2021
U.S. Building Permits, Housing Starts, and Completions Hit Higher Levels in December
U.S privately-owned housing units authorized by building permits rose 4.5% to an annual rate of 1,709,000 in December from November, according to Census Bureau press release. The building permits level was 17.3% higher than the December 2019 rate of 1,457,000. Building PermitsSingle-family authorizations were at a rate of 1,226,000, 7.8% higher than November’s … [Read more...] about U.S. Building Permits, Housing Starts, and Completions Hit Higher Levels in December
US Business Remains Optimistic on Sustained Manufacturing Activity
About 64% of U.S firms expect growth in the next six months, more than 12% that project declines, according to the Federal Reserve Bank Philadelphia press release. The figures are based on a Manufacturing Business Outlook Survey that showed an increase in general activity, new orders, and shipments for the eighth consecutive month. The diffusion index for current activity … [Read more...] about US Business Remains Optimistic on Sustained Manufacturing Activity
U.K had 35% Plunge in Consumer Spending, New Card-Purchase Data Shows
U.K card purchases went down by 35% below pre-pandemic levels in the second week of January, according to the Office for National Statistics, press release. Spending on credit and debit cards was 4% higher than in February, the month before the pandemic struck. The decline in consumer spending reflects the impact of tightened lockdowns in controlling the coronavirus and … [Read more...] about U.K had 35% Plunge in Consumer Spending, New Card-Purchase Data Shows
