Producer prices in the euro area rose significantly in January, driven mainly by rising oil prices. This was reported by the European statistical office Eurostat. The higher prices charged by European producers for their goods are also driving inflation. Producer prices rose by 1.4% in January compared with a 0.9% increase in December. Energy was the main driver with a plus of 3.5 percent. If the...
Crude oil production in the United States fell in 2020 for the first time in four years due to the impact of the coronavirus crisis on oil demand. It was reported by the US Energy Agency Energy Information Administration (EIA). The average oil production in the US last year was 11.3 million barrels (from 159 liters) per day, a decrease of almost 8 percent compared to 2019 and its lowest level...
The German economy, the largest in Europe, grew somewhat stronger than previously thought in the fourth quarter of last year. This was partly due to increased investments in the construction sector and higher exports. However, there were weaker consumer spending, in connection with the lockdowns against the coronavirus. The German Federal Statistical Office reports on the basis of a new estimate...
Brazilian president Jair Bolsonaro has caused great unrest in the financial markets in Brazil, by firing the CEO of state-owned oil company Petrobras. The news scared investors. They fear greater government interference in Brazilian business and restrictions on market freedom in the South American country. Bolsonaro has appointed a former general as new director of Petrobras, out of...
The EU needs to put more energy into drone technology, space communications and space traffic management. The European Commission calls for the creation of’ flagship projects ‘ in which the civil, space and Defence Industries share their research results and innovations, so that Europe becomes a showcase in the world. For this, the member states must cooperate more with each other, and also...
The Dutch economy will grow by only 1.8% this year. This is the lowest growth rate the European Commission expects for the 19 euro countries in 2021. Next year, the recovery of the Netherlands will also lag behind with an expected growth rate of 3% if the euro zone emerges from the crisis. On the other hand, the economic blow last year in the Netherlands seems to have been less severe than...
Production in German industry stagnated in December after seven months of sustained growth. According to the German Federal Statistics Office, industrial production remained unchanged last month compared to November. The German industry is faced with the new lockdowns against the coronavirus and also chips shortages. According to the statistical office, industrial production increased by an...
Cosmetics, clothing and household appliances that are offered on the internet as ‘green’ products are that in many cases not or the claim cannot be sufficiently proven. When reviewing 344 ‘Green claims’ by the European Commission and national authorities in the EU, the green claim for 145 products (42%) was false or misleading, says EU day-to-day administration. EU...
The economy of Germany, the largest in Europe, shrunk by 5 percent in 2020 because of the crisis. The German Federal Statistical Office reported this on the basis of a preliminary estimate. This put an end to ten years of growth for the German economy. The German economy suffered from lockdowns and weaker exports, for example because the demand for German cars was under pressure. In the spring...
The German Stock Exchange authority, BaFin, is said to be starting an investigation into striking changes in the share of the tour group TUI. In the days and weeks before the beginning of December, when an agreement was reached on state aid, marked exchange rate reactions were observed. This is reported by the German newspaper Börsen-Zeitung. A member of the Lower Saxony parliament would have...