Weekly Market Review Before reviewing last week’s events, it would be good to take a look at Germany’s Gross Domestic Product which accounts for one third of the #Eurozone’s #GDP. Europe’s largest economy’s contracted, while that of France and Italy returned to #recession. The European Central Bank’s (#ECB) forecast of 1% growth for the currency area is unlikely to be achieved, and the bank is under pressure to provide a further stimulus to boost growth. However, investors would like to consider the German Manufacturing #PMI and UK’s #PPI to be released this week, which might affect the Eurozone’s performance. Last week in the US, Industrial Production was found to rise for the month of July, as a result of an positive figures in auto parts and motor vehicles production, which inched by 10.1%, according to data released by the #FederalReserve. Industrial production rose 0.4%, a figure which was unchanged from the month of June. In Asia, #China’s new-home prices fell in July in almost all cities that the government tracks as tight mortgage lending discouraged buyers even as local governments eased property curbs. China’s property market has become a drag on the world’s second-biggest #economy, prompting cities to start easing local curbs in June. Thirty-six cities had loosened measures as of the end of last week, according to #CentalineProperty Agency Ltd.
Posted on: Mon, 18 Aug 2014 09:10:30 +0000