German industrial production growth less than expected


German industrial production rose by 7.8 percent in May compared to the previous month. In April there was an unprecedented contraction in industrial production, due to corona measures that led to factory closures. Economists generally expected a stronger recovery. They expected an industrial production increase of 11.1 percent on a monthly basis. Industrial production declined by an adjusted 17...

No aggressive bidding for 5G spectrum


Aggressive bidding is unlikely at the 5G auction that starts Monday in the Netherlands. Analysts at KBC Securities say that only three parties have indicated that they are bidding: KPN, VodafoneZiggo and T-Mobile. The chance that another company will participate in the auction is small because the barriers to participation are relatively high. For example, the minimum amounts that the State wants...

Germany reports rising import prices


Import prices in Germany rose by 0.3 percent in May compared to a month earlier. This was announced by the German statistical office.
Economists expected an average increase of 0.4 percent. Import prices fell by 1.8 percent in April. Prices fell by 7 percent year-on-year in May.

Netherlands retained AAA rating despite COVID crisis


The low interest rates that the Netherlands currently pays on its government debts ensure that they remain sustainable. Partly for this reason, the credit rating of Netherlands remains at the highest possible rating (Aaa) despite the corona crisis, according to credit rating agency Moody’s in a survey. According to the credit bureau, the biggest challenge lies in the future: the Netherlands...

US import prices and consumer confidence date, April 2020


Import prices in the United States increased by 1 percent in May compared to the previous month. This is evident from figures from the United States government. Economists generally expected an increase of 0.6 percent. US export prices rose 0.5 percent on a monthly basis, in line with economists’ average expectations. Americans’ confidence in the economy increased slightly in June...

Bundesbank expects to recover from a deep recession in ‘the coming years’


The German economy is likely to recover significantly from the deep recession of the corona crisis next year and the following year. The German central bank wrote it in an official release. By 2020, the Bundesbank expects the economy to shrink by 7.1 percent. But by 2021, the largest economy in Europe should rebound by 3.2 percent and by 2022 by 3.8 percent. In addition, the Bundesbank assumes...

Merkel to attempt to find a compromise in aid package plan


German Chancellor Angela Merkel will attempt to reach a compromise later on Tuesday on a second stimulus package to steer Europe’s largest economy through the corona crisis. From 2 pm this afternoon, she will receive several leaders and officials from her own Christian Democratic party CDU as well as the Social Democratic SPD. According to insiders, it concerns a package between 50 billion...

Spanish PMI is somewhat improving, still is very negative


The industry in Spain is “slowly recovering” – in fact it is sinking with a slower pace – from the severe blows from the corona crisis as lockdown measures in the country are gradually eased. According to Markit, the contraction of Spanish industrial activity last month was somewhat less than before. The purchasing manager index for industry in Spain was 38.3 in May...

South Korean central bank sets the lowest interest rate


The South Korean central bank is lowering the key interest rate to its lowest ever level due to the damaging impact of the corona crisis on Asia’s fourth economy. Interest will go up by 0.25 percentage point to 0.5 percent. The Bank of Korea also cut interest rates in March. The country’s economy is expected to contract this year as a result of the corona crisis. A minus of 1.4...

French consumer’s confidence dropped further


French consumers’ confidence in the economy weakened further in May due to the corona crisis, following the historic decline in April. French business, on the other hand, saw a cautious improvement in sentiment. The French statistics office reported this. The index measuring consumer confidence in France reached 93 versus 95 a month earlier. In April, that indicator dropped at a record pace...

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