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Chinese governments will replace American equipment in the coming years

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China has imposed on government agencies and public institutions to replace all foreign computer hardware and software with Chinese alternatives within three years, reports business newspaper Financial Times. The new rules would be known as “3-5-2” in China. By 2020, public authorities and governments must have replaced 30 percent of the equipment and software. A year later another 50...

Chinese PMI index show unexpected growth

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Chinese industrial production increased surprisingly somewhat in November. The purchasing managers index (PMI) of the statistical office rose to 50.2 points. This value is the highest since March and above fifty points means growth. In October this index stood at 49.3. The rise to a ‘growth value’ is, according to observers, attributed to rising domestic demand. The trade war with the...

Eurozone report shows lowest unemployment since 2008

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Unemployment in the euro zone fell slightly in October to 7.5 percent from a revised 7.6 percent a month earlier. The European statistics agency Eurostat reported the figure. That is the lowest level since July 2008. According to Eurostat, more than 12.3 million people were unemployed in the euro area. The unemployment rate for the entire European Union was 6.3 percent. That amounts to 15.6...

German October retail sales down 1,9 percent m/m

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Retail sales in Germany fell sharply unexpectedly in October. According to figures from the German Federal Statistical Office, retail sales fell by 1.9 percent on a monthly basis. On average, economists had expected a slight increase of 0.2 percent. Sales by German retailers increased by 0.1 percent in September. On an annual basis, store sales in October climbed by 0.8 percent. Here, an average...

Chinese economy heavily affected by the Trade War

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The sizeable Chinese industry is greatly affected by the trade dispute that the second largest economy in the world has with the United States. According to experts, this can be deduced from new data on the industrial profits in the country. They showed the largest decrease since the measurements started. It was therefore the sharpest fall since 2011 and the third month in a row that profits...

Consumer confidence index in France reaches two-year record

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French consumer confidence has reached its highest level in November in more than two years. Households in France have become more optimistic about their financial situation and purchasing power, according to the French statistics agency. The confidence index rose to a level of 106, compared to 104 in October. The fear of unemployment also decreased and consumers became more positive about the...

IMF calls Japanese government to spend more

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The Japanese economy is likely to grow less rapidly than expected this year. The International Monetary Fund (IMF) has lowered the country’s growth estimate to 0.8 percent, from 0.9 percent previously. It was the third time this year that the fund lowered the estimate. With the lower estimate, the institute points among other things to the slowdown in the global economy. According to the...

France expects to get 2.2 billion on 5G spectrum sale

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With the auction of spectrum licenses for 5G, or super fast mobile internet, the French government wants to raise at least 2.2 billion euros. That said the French State Secretary for Economic Affairs. That amount is considerably higher than the recommendation of the French telecom regulator Arcep. He had advised a maximum price of 1.5 billion euros. The French telecom watchdog also took into...

Not yet dead but definitively trying: German economy shows 0.1 percent quarterly growth

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Germany’s economy showed a growth of 0.1 percent on a quarterly basis in the third quarter. The German Federal Statistical Office reported this on the basis of a definitive figure. The figure corresponds to a provisional estimate. With that small growth in the last quarter, Europe’s largest economy managed to prevent a technical recession, as the second quarter still saw a contraction...

European statistics data published: EU and Euro zone inflation, export performance

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Inflation in the eurozone fell to 0.7 percent on an annual basis in October, from 0.8 percent in September. The European statistics agency Eurostat reported this on the basis of a definitive figure. The figure corresponds to an earlier estimate. Core inflation, without the influence of the sharply fluctuating prices for energy and food and beverages, rose to 1.1 percent from 1 percent in...

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