Economy News

Economy

German Services Sector Contracts in April Amid Economic Uncertainty, PMI Hits 14-Month Low

Germany's services sector contracted in April, with the PMI dropping to a 14-month low of 49.0, below the growth threshold. The Composite PMI slightly grew to 50.1, supported by ma...

Economy

Eurozone's Economic Momentum Wanes in April as Services Sector Nears Stagnation

The Eurozone's economic growth slowed in April, with the services sector almost stagnating, despite a surprising uptick in manufacturing output, as per the latest PMI data.

Economy

Swiss National Bank on High Alert: Ready to Intervene as Franc Strengthens

Swiss National Bank Chairman Martin Schlegel reaffirms the central bank's readiness to intervene in the foreign exchange market amidst the Swiss franc's significant appreciation, a...

Economy

UK Service Sector Faces Contraction in April Amid Global Economic Uncertainty

The UK service sector contracted in April for the first time in 18 months, with the PMI falling to 49.0. Declines in new business and employment, alongside weak export conditions, ...

Economy

March Sees a 1.6% Drop in Eurozone Producer Prices, Energy Sector Hit Hardest

In March, the Eurozone and EU saw a 1.6% drop in producer prices, with energy prices falling the most. Annual increases were noted at 1.9% and 2.1% respectively, with varying secto...

Economy

France's Industrial Sector Shows Modest Growth in March with Transport Equipment Leading the Charge

French industrial production saw a modest 0.2% rise in March, driven by transport equipment and automotive sectors, despite declines in capital goods and energy production. Yearly ...

Economy

Spain's Unemployment Rate Drops Significantly: A 2.61% Decrease in April Marks a Turning Point

Spain's unemployment rate decreased by 2.61% in April, with 67,420 fewer people unemployed, marking the lowest decline since May 2022. Significant reductions were observed across a...

Economy

EU Pushes for Historic Zero-Tariff Agreement with US to Ease Trade Tensions and Boost Industrial Sectors

The EU has proposed a "zero-for-zero" tariff agreement with the US to eliminate duties on industrial goods, aiming to mitigate trade tensions and enhance supply chain resilience. T...