Bund Tbond and the bernakka's und trikeko's injection VM199
- Creatore Discussione gipa69
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collegio dei patafisici
fo64 ha scritto:Un saluto a tutta la banda è doveroso, visto che quel busone di Gipa è passato a lasciare la sua traccia nelle news odierne in piazza affari
Tutto bene?
busone sarà Fleu
German July Factory Orders Drop Most in 16 Years (Update3)
By Simone Meier
Sept. 6 (Bloomberg) -- German manufacturing orders dropped the most in at least 16 years in July after a decline in sales of ships, trains and airplanes.
Orders, adjusted for seasonal swings and inflation, fell 7.1 percent from June, when they gained 5.1 percent, the Economy and Technology Ministry in Berlin said today. That's the biggest drop since at least September 1991, according to Bloomberg data. Economists expected a decline of 2.5 percent, according to the median of 37 estimates in a Bloomberg News survey.
German growth is cooling from the fastest pace since the turn of the decade last year as a gain in the euro makes exports less competitive abroad and borrowing costs at a six-year high restrain lending. European manufacturing expanded at the weakest pace in 19 months in August. European Central Bank President Jean-Claude Trichet has already indicated the bank may leave interest rates unchanged today to assess the impact of credit-market turbulence.
``We'll see some negative effects on investments due to the recent market turmoil,'' said Matthias Rubisch, an economist at Commerzbank AG in Frankfurt. ``Overall, the orders trend is still up even if they're not showing the same dynamism as last year.''
From a year earlier, orders gained 9.8 percent. Foreign orders fell 12 percent in July from the previous month, led by a 22 percent drop in demand within the 13-member euro region economy, today's report showed. Euro-area orders for investment goods declined 33 percent after rising 40 percent in June.
`Large Swings'
The ``large swings'' were influenced by the development in big ticket orders, the ministry said today. Orders increased 2.2 percent in July excluding demand for goods such as for ships, trains and vehicles, according to the release.
``Monthly data on manufacturing orders are volatile, as big- ticket items can lead to heavy distortions,'' said Martin Lueck, an economist at UBS AG in Frankfurt. ``The peak of cyclical momentum is probably behind us, but the economy is still growing at a satisfactory pace that's above trend.''
Europe's economy expanded at the slowest pace in more than two years in the second quarter as business investment fell for the first time since 2002, the European Union's statistics office in Luxembourg said Sept. 4. Growth may cool to 0.5 percent in the fourth quarter from an estimated 0.6 percent in the current three- month period, the European Commission said that day.
Waning Confidence
Bayerische Motoren Werke AG, the world's largest luxury carmaker, last month reported a bigger decline in second-quarter profit than analysts had estimated because of the euro's strength.
A 3.4 percent gain in the euro against the dollar this year is weighing on exports as the U.S. economy loses momentum. Americans' confidence this month declined the most in two years, backing the Federal Reserve's concerns that risks to growth in the world's largest economy have ``increased appreciably.''
European companies are also dealing with a rout in the U.S. subprime mortgage market which is pushing up the cost of credit. Turmoil worsened on Aug. 9 after some European banks acknowledged their vulnerability to rising defaults on American subprime mortgages, aimed at borrowers with a poor credit history.
German business confidence fell to a 10-month low in August and investor optimism declined more than economists forecast. European manufacturing orders grew at the slowest pace since November 2005 last month on waning demand at home and abroad.
German companies are counting on stronger consumer demand at home after unemployment declined for a 19th month in August. German retail sales rose for the first time in four months in August, the Bloomberg purchasing managers index showed Aug. 30.
ECB Rates
Booming Asian demand is also helping shore up earnings. DaimlerChrysler AG, the world's second-largest maker of luxury cars, said Sept. 4 it expects rising demand in markets including India, China and Brazil this year.
MAN AG, Europe's third-largest truckmaker, is investing 300 million euros ($408 million) through the end of 2009 to expand its European dealership network on rising demand. The Munich-based company is also targeting increased sales in Russia and eastern Europe as the region's economies boom.
``Looking ahead, we should expect a rebound in manufacturing order demand,'' said Elga Bartsch, an economist at Morgan Stanley & Co. in London. Business confidence indicators point to ``a gradual moderation in order books, not a plunge.''
Economists expect the ECB to leave its main interest rate unchanged. Just 12 out of 56 surveyed by Bloomberg News predict a quarter-point increase when the 19-member governing council meets. The Frankfurt-based ECB will announce its rate decision at 1:45 p.m. today.
To contact the reporter on this story: Simone Meier in Frankfurt at [email protected]
Last Updated: September 6, 2007 07:30 EDT
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collegio dei patafisici
U.K. Factory Production Unexpectedly Declined in July (Update2)
By Svenja O'Donnell
Sept. 6 (Bloomberg) -- U.K. factory output unexpectedly fell in July for the first time in five months, a sign manufacturing may be faltering.
Factory production declined 0.3 percent, compared with a 0.1 percent gain in June, the Office for National Statistics said in London today. Economists predicted a gain of 0.2 percent, the median of 31 forecasts in a Bloomberg News survey show.
A pickup in manufacturing, which helped propel faster economic growth in the second quarter, may be waning after the pound strengthened this year. Policy makers may keep the benchmark interest rate unchanged today as they try to prevent a surge in corporate borrowing costs from damaging the economy.
``The figures are disappointing,'' said Peter Dixon, an economist at Commerzbank AG in London. ``There will be less impetus to gross domestic product than anticipated. The third quarter has got off to a pretty bad start.''
Transport equipment led the drop in manufacturing, with a 2.6 percent decline, the biggest since October 2005, as aircraft production fell. Out of 13 categories of factory output, six fell and seven rose, the statistics office said.
Molins Plc, the U.K. maker of cigarette-rolling machines and packaging equipment, said Aug. 31 annual profit will decline because of a ``sharp'' drop in orders and increased costs.
Industrial Production
Overall industrial production, which includes oil and gas, utilities and mining, fell 0.1 percent on the month, dragged down by manufacturing.
The Bank of England said Aug. 8 that gains in the pound this year ``may act against'' demand for British goods abroad and that a jump in factory production is ``unlikely to be sustained.'' The pound reached $2.0654 on July 24, the highest in 26 years, and traded at $2.0252 at 10:23 a.m. in London.
Devro Plc, the U.K.'s largest maker of sausage casings, said today that six-month profit fell 11 percent as sales slowed in the U.S., U.K. and Australian markets.
Still, the 13-nation euro region economy, the destination of about half of British exports, will grow about 2.6 percent this year, the European Central Bank's June forecasts show. That is close to last year's 2.7 percent expansion, which was the fastest in six years. Manufacturing growth accelerated in August to a three-year high, the Chartered Institute of Purchasing and Supply and Royal Bank of Scotland Group Plc said Sept. 3.
Services Growth
Services, which account for three-quarters of gross domestic product, may also power the economy even if manufacturing slows. Services industry growth unexpectedly quickened in August, a separate survey by CIPS showed yesterday.
The central bank's forecasts show economic growth will weaken to an annual pace of about 2.5 percent in 2009, from a peak of about 3.5 percent this year.
All 60 economists surveyed by Bloomberg News predict the Bank of England will keep the benchmark interest rate at its current 5.75 percent today.
``We'll get a nine-nil result in two weeks time,'' Kevin Gaynor, head of economics and rates strategy, Royal Bank of Scotland Group Plc, said in an interview. ``The message will be that the bank is operating monetary policy on the basis of their intermediate inflation target.''
The bank yesterday took its first steps to curb U.K. money- market rates, which have climbed to the highest since 1998, following the collapse of the market for U.S. subprime mortgages, which are loans for people with poor credit histories.
``A rate hike is highly unlikely today and I don't expect one this year,'' said Commerzbank's Dixon. ``The manufacturing numbers, if anything, would confirm that view.''
To contact the reporter on this story: Svenja O'Donnell in London at [email protected] .
Last Updated: September 6, 2007 05:28 EDT
By Svenja O'Donnell
Sept. 6 (Bloomberg) -- U.K. factory output unexpectedly fell in July for the first time in five months, a sign manufacturing may be faltering.
Factory production declined 0.3 percent, compared with a 0.1 percent gain in June, the Office for National Statistics said in London today. Economists predicted a gain of 0.2 percent, the median of 31 forecasts in a Bloomberg News survey show.
A pickup in manufacturing, which helped propel faster economic growth in the second quarter, may be waning after the pound strengthened this year. Policy makers may keep the benchmark interest rate unchanged today as they try to prevent a surge in corporate borrowing costs from damaging the economy.
``The figures are disappointing,'' said Peter Dixon, an economist at Commerzbank AG in London. ``There will be less impetus to gross domestic product than anticipated. The third quarter has got off to a pretty bad start.''
Transport equipment led the drop in manufacturing, with a 2.6 percent decline, the biggest since October 2005, as aircraft production fell. Out of 13 categories of factory output, six fell and seven rose, the statistics office said.
Molins Plc, the U.K. maker of cigarette-rolling machines and packaging equipment, said Aug. 31 annual profit will decline because of a ``sharp'' drop in orders and increased costs.
Industrial Production
Overall industrial production, which includes oil and gas, utilities and mining, fell 0.1 percent on the month, dragged down by manufacturing.
The Bank of England said Aug. 8 that gains in the pound this year ``may act against'' demand for British goods abroad and that a jump in factory production is ``unlikely to be sustained.'' The pound reached $2.0654 on July 24, the highest in 26 years, and traded at $2.0252 at 10:23 a.m. in London.
Devro Plc, the U.K.'s largest maker of sausage casings, said today that six-month profit fell 11 percent as sales slowed in the U.S., U.K. and Australian markets.
Still, the 13-nation euro region economy, the destination of about half of British exports, will grow about 2.6 percent this year, the European Central Bank's June forecasts show. That is close to last year's 2.7 percent expansion, which was the fastest in six years. Manufacturing growth accelerated in August to a three-year high, the Chartered Institute of Purchasing and Supply and Royal Bank of Scotland Group Plc said Sept. 3.
Services Growth
Services, which account for three-quarters of gross domestic product, may also power the economy even if manufacturing slows. Services industry growth unexpectedly quickened in August, a separate survey by CIPS showed yesterday.
The central bank's forecasts show economic growth will weaken to an annual pace of about 2.5 percent in 2009, from a peak of about 3.5 percent this year.
All 60 economists surveyed by Bloomberg News predict the Bank of England will keep the benchmark interest rate at its current 5.75 percent today.
``We'll get a nine-nil result in two weeks time,'' Kevin Gaynor, head of economics and rates strategy, Royal Bank of Scotland Group Plc, said in an interview. ``The message will be that the bank is operating monetary policy on the basis of their intermediate inflation target.''
The bank yesterday took its first steps to curb U.K. money- market rates, which have climbed to the highest since 1998, following the collapse of the market for U.S. subprime mortgages, which are loans for people with poor credit histories.
``A rate hike is highly unlikely today and I don't expect one this year,'' said Commerzbank's Dixon. ``The manufacturing numbers, if anything, would confirm that view.''
To contact the reporter on this story: Svenja O'Donnell in London at [email protected] .
Last Updated: September 6, 2007 05:28 EDT
f4f
翠鸟科
gipa69 ha scritto:L'ultimo quote non esiste!
busone sarà Fleu
veru
ma questa canzone gli piacerà
http://www.youtube.com/watch?v=RUK6ScAeFKE
gipa69
collegio dei patafisici
US first time jobless claims fall 19,000 to 318,000 vs 328,000 expected
Thu, Sep 6 2007, 12:46 GMT
http://www.afxnews.com
WASHINGTON (Thomson Financial) - First time claims for unemployment insurance in the US fell more than expected last week, but continuing jobless claims hit new highs at the end of August, suggesting reluctance among businesses to hire new workers.
The Labor Department reported 318,000 new claims for the week ending September 1, a drop of 19,000 from the prior week. Economists had predicted 328,000 new claims.
The 4-week moving average, which smoothes out some of the week-to-week volatility in initial claims, rose 500 last week to 325,750. The last time the moving average was that high was April 28.
Continuing claims, which lag a week behind the initial claims number, rose sharply by 25,000 to 2.598 mln for the week ending August 25. That's the highest level since February 17 and the second highest reading this year.
Economists were expecting 2.575 mln continuing claims.
The 4-week moving average for continuing claims was 2.572 mln, a record high for 2007. The last time this moving average was this high was January 2006.
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pik/wash/ejp
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
Thu, Sep 6 2007, 12:46 GMT
http://www.afxnews.com
WASHINGTON (Thomson Financial) - First time claims for unemployment insurance in the US fell more than expected last week, but continuing jobless claims hit new highs at the end of August, suggesting reluctance among businesses to hire new workers.
The Labor Department reported 318,000 new claims for the week ending September 1, a drop of 19,000 from the prior week. Economists had predicted 328,000 new claims.
The 4-week moving average, which smoothes out some of the week-to-week volatility in initial claims, rose 500 last week to 325,750. The last time the moving average was that high was April 28.
Continuing claims, which lag a week behind the initial claims number, rose sharply by 25,000 to 2.598 mln for the week ending August 25. That's the highest level since February 17 and the second highest reading this year.
Economists were expecting 2.575 mln continuing claims.
The 4-week moving average for continuing claims was 2.572 mln, a record high for 2007. The last time this moving average was this high was January 2006.
[email protected]
pik/wash/ejp
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
gipa69
collegio dei patafisici
US Q2 productivity up 2.6 pct, unit labor costs up 1.4 pct
Thu, Sep 6 2007, 12:47 GMT
http://www.afxnews.com
WASHINGTON (Thomson Financial) - The efficiency of US workers in the second quarter rose to its highest level since 2005 as unit labor costs fell to their lowest level in a year according to revised statistics from the Labor Department today.
Despite the good quarterly numbers, annual trends showed continuing low productivity growth and rising labor costs.
Q2 non-farm business productivity was revised up to a 2.6 pct annual growth rate from the originally reported 1.8 pct rate. That's the highest level since 4.4 pct growth in Q3 of 2005. Economists were looking for an increase to 2.3 pct.
Unit labor cost growth was cut to 1.4 pct from the 2.1 pct first reported. 1.4 pct is the smallest increase since costs fell 1.0 pct in the second quarter of last year. The median forecasts for costs was a 1.5 pct annual growth rate.
The improved productivity and cost numbers come from the upwardly revised GDP growth for Q2.
The trend in US productivity growth remains low compared to recent years. Q2 productivity was 0.9 pct higher than the same quarter in 2006, just one third of the average from 2000-2006.
Labor costs, up 4.9 pct year-over-year in the second quarter, were up the most they've been since a 5.0 pct annual increase for the third quarter of 2000.
Nominal hourly compensation costs were up 5.8 pct over the past year, their biggest growth since a 6.5 pct increase for Q4 of 2000. The Labor Department revised up its Q1 labor cost number to 5.2 pct annualized growth, from the 3.7 pct first reported.
Falling productivity, higher employment costs and tight labor markets have been the key inflation concern of the Federal Reserve.
[email protected]
dem/wash/ejp
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
Thu, Sep 6 2007, 12:47 GMT
http://www.afxnews.com
WASHINGTON (Thomson Financial) - The efficiency of US workers in the second quarter rose to its highest level since 2005 as unit labor costs fell to their lowest level in a year according to revised statistics from the Labor Department today.
Despite the good quarterly numbers, annual trends showed continuing low productivity growth and rising labor costs.
Q2 non-farm business productivity was revised up to a 2.6 pct annual growth rate from the originally reported 1.8 pct rate. That's the highest level since 4.4 pct growth in Q3 of 2005. Economists were looking for an increase to 2.3 pct.
Unit labor cost growth was cut to 1.4 pct from the 2.1 pct first reported. 1.4 pct is the smallest increase since costs fell 1.0 pct in the second quarter of last year. The median forecasts for costs was a 1.5 pct annual growth rate.
The improved productivity and cost numbers come from the upwardly revised GDP growth for Q2.
The trend in US productivity growth remains low compared to recent years. Q2 productivity was 0.9 pct higher than the same quarter in 2006, just one third of the average from 2000-2006.
Labor costs, up 4.9 pct year-over-year in the second quarter, were up the most they've been since a 5.0 pct annual increase for the third quarter of 2000.
Nominal hourly compensation costs were up 5.8 pct over the past year, their biggest growth since a 6.5 pct increase for Q4 of 2000. The Labor Department revised up its Q1 labor cost number to 5.2 pct annualized growth, from the 3.7 pct first reported.
Falling productivity, higher employment costs and tight labor markets have been the key inflation concern of the Federal Reserve.
[email protected]
dem/wash/ejp
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
gipa69
collegio dei patafisici
il trikeko dixit:
ECB’s Trichet announces great attention to money markets
Thu, Sep 6 2007, 12:53 GMT
http://www.fxstreet.com
FXstreet.com (Barcelona) – ECB’s president Jean Claude Trichet has announced great attention in the money markets, as well as the determination to act in a "Firm and Timely Manner" to maintain inflation in levels below the 2.0% annual rate.
In the press conference held at 12.30 GMT on Thursday, the ECB’s president has not ruled out the possibility of further rate hikes before the end of 2007, stating that the Bank will monitor “very closely” price risks in the next months, he added that the Bank’s monetary policy remains still on the “accommodative side”.
In relation to the U.S. financial turmoil, Trichet affirmed that it is too early to draw conclusions on the fact, and that the Bank needs more information in order to do so.
ECB’s Trichet announces great attention to money markets
Thu, Sep 6 2007, 12:53 GMT
http://www.fxstreet.com
FXstreet.com (Barcelona) – ECB’s president Jean Claude Trichet has announced great attention in the money markets, as well as the determination to act in a "Firm and Timely Manner" to maintain inflation in levels below the 2.0% annual rate.
In the press conference held at 12.30 GMT on Thursday, the ECB’s president has not ruled out the possibility of further rate hikes before the end of 2007, stating that the Bank will monitor “very closely” price risks in the next months, he added that the Bank’s monetary policy remains still on the “accommodative side”.
In relation to the U.S. financial turmoil, Trichet affirmed that it is too early to draw conclusions on the fact, and that the Bank needs more information in order to do so.
