LONDON (Reuters) - British manufacturing output posted an unexpected fall in April, raising the risk of a longer recession and turning up pressure on policymakers to take action to boost economic growth.
Recovery, we have a problem... November's Flash US Manufacturing PMI printed a 10-month lows 54.7, missing expectation sof 56.3 by the most on record and tumbling for the third month in a row. The last 2 mnths have seen the biggest drop since June 2013 ands as Markit notes, suggests a further drop in GDP growth expectations of only 2.5% in Q4. Output is down for the 3rd straight month and Surprise!! Export market weakness is being blamed...
Unemployment jumped by 70,000 in the three months to the end of February, amid the lowest growth in pay rises since 2001, as pressure mounts on George Osborne to adopt a more aggressive growth strategy, reports The Guardian.
After beating expectations for 6 months in a row, the whisper expectations for December's Manufacturing ISM was a small miss of the 56.8 consensus print. Instead, the US inventory build up in the quarter boosted the ISM for one more month with the headline print of 57.0 beating expectations modestly, if recording the first decline in seven months, down from November's 57.3. There was little surprise in the internals, which saw New Orders (64.2 vs 63.6), Employment (56.9 vs 56.5) and Prices Paid (53.5 vs 52.5) all rise modestly.
PARIS — The OECD slashed its growth forecasts for major developed economies on Monday, urging much more aggressive ECB stimulus to ward off the risk of deflation in a subdued eurozone.
The call adds to growing pressure on the eurozone, and the European Central Bank in particular, to boost growth ahead of a meeting of finance ministers and central bankers from the Group of 20 economic powers later this week in Australia.
OTTAWA – New legislation designed to keep mentally ill murderers like Greyhound bus passenger beheader Vince Li and child killer Allan Schoenborn off the streets for longer periods, if not indefinitely, is raising concerns this is little more than a knee-jerk reaction to a few sensational, albeit rare, cases.