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Jul 3, 2015

Euro zone businesses shrug off Greek fears; growth reaches four-year high – PMI

LONDON (Reuters) – - Euro zone business activity expanded at its fastest pace in four years last month as the European Central Bank’s stimulus package more than offset fears Greece could crash out of the currency union, surveys showed.

Speculation that Athens would miss a 1.6 billion-euro repayment to the International Monetary Fund on Tuesday heightened expectations Greece would have to abandon the euro, keeping manufacturing activity in check last month.

Jul 3, 2015

European service industry enjoys June bounce, shrugs off Greek woes

LONDON, July 3 (Reuters) – Europe’s vast service industry
expanded faster than initially thought last month, surveys
showed on Friday, speeding ahead despite warning signs that
Greece might crash out of the euro zone.

Firms across the currency union enjoyed a better June than
predicted by a preliminary reading, growing at a four-year
record pace, while British firms ramped up activity more than
anyone in a Reuters poll had forecast.

Jul 1, 2015

Asian factory growth stays weak, Europe and U.S. sluggish

By Jonathan Cable

(Reuters) – Global manufacturing growth slowed last month with most Asian economies remaining weak, while Greece’s woes kept euro zone factories in check and U.S. manufacturing turned in a mixed performance, business surveys showed on Wednesday.

JPMorgan’s Global Manufacturing Purchasing Managers’ Index, produced with private data vendor Markit, slipped to 51.0 in June from 51.3 in May, matching April’s near two-year low.

Jul 1, 2015

BoE to hike in first quarter as wage growth surpasses its expectations: Poll

LONDON (Reuters) – The Bank of England will hike its benchmark interest rate from a record low of 0.5 percent early next year, according to a Reuters poll of economists who also said wages will rise faster in 2015 than the central bank thinks.

Average earnings was one of the key planks of Governor Mark Carney’s 2013 forward guidance as to when Bank Rate would increase. The Reuters poll suggested wage growth will pick up faster this year than the 2.5 percent the Bank predicted in May.

Jul 1, 2015

BoE to hike in first quarter as wage growth surpasses its expectations

LONDON (Reuters) – The Bank of England will hike its benchmark interest rate from a record low of 0.5 percent early next year, according to a Reuters poll of economists who also said wages will rise faster in 2015 than the central bank thinks.

Average earnings was one of the key planks of Governor Mark Carney’s 2013 forward guidance as to when Bank Rate would increase. The Reuters poll suggested wage growth will pick up faster this year than the 2.5 percent the Bank predicted in May.

Jul 1, 2015

Euro zone factory growth stutters as China, Japan heals

By Jonathan Cable and Ian Chua

(Reuters) – Asia’s largest economies showed hints of healing last month but euro zone factory growth remained tepid as Greek debt talks, and the country’s possible departure from the bloc, dominated debate in Europe.

Speculation Athens would fail to make June 30′s 1.6 billion euro repayment to the International Monetary Fund, heightening expectations Greece would crash out of the currency union, kept the bloc’s manufacturing output check.

Jul 1, 2015

Euro zone factory June growth tepid as Greece weighed: PMI

LONDON, (Reuters) – Euro zone factory growth picked up slightly last month but remained tepid as uncertainty around Greek debt talks — and the country’s possible exit from the bloc — swept across the region, a survey found on Wednesday.

Amid speculation Athens would fail to make Tuesday’s 1.6 billion euro repayment to the International Monetary Fund, expectations Greece would crash out of the currency union jumped.

Jun 29, 2015

Chances of Greece euro exit balancing on a knife’s edge: Reuters Poll

LONDON (Reuters) – Greece is almost certain to miss a 1.6 billion euro payment to the International Monetary Fund on Tuesday but it’s touch-and-go whether it will have to leave the euro zone, a snap Reuters poll found.

The poll of more than 70 economists and traders, taken on Monday after talks between Athens and its creditors broke down, concluded there was a median 90 percent probability Greece misses Tuesday’s repayment.

Jun 29, 2015

Chances of Greece euro exit balancing on a knife’s edge

LONDON, June 29 (Reuters) – Greece is almost certain to miss
a 1.6 billion euro payment to the International Monetary Fund on
Tuesday but it’s touch-and-go whether it will have to leave the
euro zone, a snap Reuters poll found.

The poll of more than 70 economists and traders, taken on
Monday after talks between Athens and its creditors broke down,
concluded there was a median 90 percent probability Greece
misses Tuesday’s repayment.

Jun 21, 2015

Global Economy Weekahead – Greek drama nears final act, ending uncertain

LONDON (Reuters) – Euro zone leaders will attend an emergency summit on Monday, hoping to thrash out a plan with Athens to provide Greece with additional funds to prevent it defaulting on its debt — but only if both sides play ball.

With the outcome uncertain, markets will also be looking at data due on Tuesday for clues as to how the global economy rounded off the first half, with business surveys expected to show modest growth in China, the euro zone and the United States.