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Spain has lost less GDP in Q2 than initially thought

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The Spanish economy shrank slightly less in the second quarter than previously expected. This was apparent from the final figures of the National Statistical Office. The country was severely affected by the coronacris during the measurement period and took heavy measures to contain the spread of the coronavirus. The economy shrank by 21.5% on an annual basis in the measurement period, where it...

Airlines and banks show strong decline in Asian region

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Most stock exchanges in the Asian region showed small losses on Tuesday. The airlines, in particular, were under pressure from fears of stricter measures in Europe to curb the further advance of the SARS. In Japan, investors had another day off. The Tokyo Stock Exchange will resume on Wednesday. In the meantime, the main index in Shanghai recorded 0.5% in the min and the Hang Seng index in Hong...

Turkish Lira went down again

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The rate of the Turkish lira went down again on Friday in the midst of financial turmoil in Turkey. High inflation, with food and transport becoming more expensive for citizens, for example, and the economic concerns caused by the COVID-19 pandemic, led to a new low. The ongoing gas dispute between Turkey and neighbouring Greece also brought pressure. The two countries have been in conflict for...

Emmanuel Macron introduces his own stimulus plan

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French president Emmanuel Macron has unveiled his stimulus plan for France’s economy, amounting to EUR 100 billion. The plan includes, for example, wage subsidies, tax reductions for companies and financing for environmental projects and green technology. The money is mainly intended to stimulate the economy in the longer term and also to help it get out of the corona crisis. Macron hopes...

Activity in Spanish industry is unexpectedly low

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Activity in Spanish industry fell unexpectedly last month. In France, too, there was a decline and in Germany, industrial activity was less up-to-date than previously estimated. This is reflected in new figures from the UK market researcher Markit. The Purchasing Manager Index for the Spanish industry was 49.9, from 53.5 a month earlier. A position above 50 is a sign of increasing activity, below...

Japanese industry production increased sharply

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Production in the large Japanese industry rose by 8% in July compared to the previous month. The Japanese government reported that on the basis of preliminary figures. The car industry, particularly badly hit by the corona crisis, was doing a good job. It is the largest growth since the start of measurements in 1978. Economists, on average, expected a growth rate of 5%. Japan’s industry...

ISM Industry index seems to be flattening

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Activity in the industry around the American city of Chicago has increased less in August than a month earlier. This was announced by the Market Research Institute for Supply Management (ISM). The figure was also weaker than expected. The purchasing manager index measuring activity around Chicago went to 51.2 of the 51.9 reported a month earlier. Economists, on average, calculated a level of 52.6...

Tesla faces strong competition in China

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Tesla feels the strong competition on the Chinese car market. The Americans saw the number of registrations of new vehicles on the world’s largest car market in July drop by almost a quarter compared to a month earlier. In July, 11,456 new Teslas were registered, according to figures from the Chinese authorities. These vehicles have recently been rolling out of the so-called Chinese...

Turkish lira faces devaluation

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The rate of the Turkish lira is once again falling sharply in the midst of financial turmoil in Turkey. Last week, the Central bank of the country promised new measures to support the currency, but chose not to interfere with interest rates. The situation caused a sharp fall in lira rate last week. On Monday, the rate went down to 1.7 percent against the dollar. The Turkish currency thus went up...

Chinese producer prices in decline

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Chinese producer prices fell sharply again in July, mainly due to lower prices in the oil and energy sectors. According to the statistics office, prices charged by Chinese manufacturers for their products decreased by 2.4 percent on an annual basis last month. Economists expected a slightly larger fall in prices, of 2.5 percent. In June, producer prices were already down by 3%. The corona crisis...

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