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
Forex News
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
U.S. Jobless Claims Fell, But Remain Higher than Pre-Crisis Levels
U.S jobless claims were 900,000 in the week ending January 16, down 26,000 from the previous week and less than expected 935,000, according to the Department of Labor press release. Continuing claims fell by 127,000 to hit 5.05 million, less than the expected 5.3 million in the week ending January 9. The 4-week jobless claims moving average was 848,000, an increase of … [Read more...] about U.S. Jobless Claims Fell, But Remain Higher than Pre-Crisis Levels
