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Video games industry has been hit hard by China/US tensions

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The stock exchanges in New York went out of business on Friday with a mixed picture. The growing tensions between the United States and China have clearly impacted on the tech sector, as American president Donald Trump also targets the Chinese ten cents. Investors also responded to the political stalemate in Washington surrounding a comprehensive support package against the coronacrisis. The...

German export slowly restores, still far from the pre-COVID times

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German industrial production and exports continued to increase in June compared to the previous month. This is how the recovery started earlier continues. Previously there was an unprecedented contraction, as a result of coronam measures leading to factory closures and a significant decline in World Trade. In June, according to new figures from the German statistical office, industrial production...

German PMI at the lukewarm 51 while French show more enthusiasm

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Economic activity in German industry increased in July. That is clear from definitive figures from the British market researcher Markit. At a provisional figure, there was no shrinkage, but there was no growth to report. The Purchasing Manager Index for the German industry reached a stand of 51. A figure above 50 indicates an increase in activity, below which there is a decrease. At the...

Spanish and Italian economies hit hard by COVID crisis

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In the second quarter, the Spanish economy was hit hard by the coronacrisis and the severe lock-down measures against the virus outbreak. According to preliminary figures from the Spanish Statistical Office, the economy shrank by 18.5 percent compared to the first quarter. The contraction was more pronounced than expected, because economists had predicted a decline of 16.6 per cent on average. In...

Spain sent the army to build a camp for seasonal workers

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The Spanish army has been sent to build a camp for fruit pickers, who, according to the UN, live in inhumane conditions. Migrant workers are at high risk of becoming infected with the coronavirus, UN rapporteur De Schutter warned yesterday. The African seasonal workers live in slums, which are dirty and dangerous. Thousands of them are trapped in Spain, because neighboring Morocco keeps its...

New home sales in US growth reached the highest level in nearly thirteen years

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New home sales in the United States rose sharply again in June, to the highest level in nearly thirteen years. That was reported by the United States Department of Commerce. Sales increased 13.8 percent on a monthly basis, to 776,000 homes annually. Economists generally assumed an increase of 3.6 percent. In May, sales rose by a revised 19.4 percent from a previously reported 16.6 percent...

Less gloom is more fun: Germans on a way to restore the faith in consumerism

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German consumers have become a lot less gloomy about the economy. Market researcher GfK announced this.
The index reflecting consumer confidence in Europe’s largest economy stands at minus 0.3. In a previous measurement this was a revised reading of minus 9.4. Economists generally calculated at a level of minus 4.5. The indicator is based on research among approximately 2000 respondents.

Money press and GDP big dive hasn’t induced inflation

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Inflation in the United States was 0.6 percent year-on-year in June, down from 0.1 percent in April. That made the American government known. The increase in the average price level corresponded to the expectations of economists. So-called core inflation, excluding fluctuating energy and food prices, came in at 1.2 percent, as in May. On a monthly basis, US consumer prices rose by 0.6 percent...

German industrial production growth less than expected

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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

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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...

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