China Q4 GDP and December industrial output (and more) data due today – preview
Coming up on the calendar today: I posted a preview of this data here: Reuters have a preview posted also if you’d like more. Via JPMorgan: “The Chinese economy appears to have ended the year on a weak tone” “As suggested by the weak December NBS PMI report, domestic activity likely slowed further by year-end […]
Fragmentation could shave up to 7.0% off of global GDP
In a new staff report published on Sunday, the International Monetary Fund (IMF) said that a severe economic fragmentation of the global could cost global Gross Domestic Output up to 7.0% but the losses could reach 8-12% in some countries if technology is also decoupled. Additional takeaways “Even limited fragmentation could shave 0.2% off of […]
Deutsche Bank revises German 2023 GDP forecast to 0% from -1.0%
You don’t need to look around markets for long to see signs that sentiment around Europe has improved and now Deutsche Bank is quantifying it. Economists there have boosted their 2023 eurozone GDP forecast to 0% from -1.0% at year end. They note that Germany performed surprisingly well in 2022, growing 1.9% despite the industrial […]
German GDP, Spanish CPI and Can Europe Avoid a Recession?
Goldman Sachs has been one of the recent major banks to upgrade its expectations for the Euro Zone for the coming year. It had previously expected the shared economy to fall into a recession in the first half of the year. Now, the forecast shows an expectation that the Euro Area will just barely avoid […]
USD continued to weaken on January 11th, eyes on UK GDP data
The US Dollar resumed its decline against the British Pound and the Euro as investors and traders focus on the release of US inflation data due on Thursday January 12th. The US Dollar Index (DXY) remains pressured towards the 103.00 round figure, barely higher than the lowest level recorded in the last seven months. As […]