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Nov 20, 2014

Creaking euro zone, China sound warnings for global growth

LONDON/BEIJING (Reuters) – Surveys sounded warning bells for the global economy on Thursday as euro zone businesses grew less quickly than any forecaster expected and China’s factories lost momentum.

The downbeat data, alongside evidence of further price-cutting, will add to calls for more policy action from the European Central Bank, while the first drop in Chinese manufacturing output for six months will heap similar pressure on authorities in Beijing.

Nov 20, 2014

Euro zone business growth slower than thought as orders fall: PMI

LONDON (Reuters) – - Euro zone business growth has been weaker than any forecaster expected this month and new orders have fallen for the first time in more than a year despite further price-cutting, a survey showed on Thursday.

Markit’s Composite Flash Purchasing Managers’ Index, based on surveys of thousands of companies and seen as a good growth indicator, fell to 51.4, missing even the lowest forecast in a Reuters poll.

Nov 17, 2014
via MacroScope

Doves taking flight on when BoE to hike

Doubts over just how soon the Bank of England can raise interest rates have been growing in recent weeks as Britain’s recovery looks in danger, inflation remains stubbornly low and concerns about the euro zone intensify.

Those fears persuaded HSBC to make one of the biggest forecast changes in recent history on Monday, pushing back its first call by a whole year.

Nov 11, 2014

Bank of England to cut forecasts, hold fire on rates until second-quarter 2015 – Reuters Poll

LONDON (Reuters) – The Bank of England won’t raise interest rates from a record low until the second quarter of next year, later than previously thought, and will cut its growth and inflation outlook on Wednesday, a Reuters poll forecast.

Britain’s central bank is due to publish its quarterly Inflation Report on Wednesday and all but one of the economists polled this week said it would lower its inflation forecasts. Around two-thirds said it would also cut growth expectations.

Nov 6, 2014

Sterling forecasts cut as early BoE hike hopes dim – Reuters poll

LONDON (Reuters) – The outlook for the pound versus the dollar has dimmed in the past month as expectations for the first interest rate rise by the Bank of England have been pushed back to later next year, a Reuters poll found.

Bank Rate has been at a record low of 0.5 percent since the depths of the financial crisis in early 2009 but upbeat data and hawkish talk from the central bank governor had seen markets and economists pricing in a rate hike early next year.

Nov 5, 2014

Reuters poll: Sterling forecasts cut as early BoE hike hopes dim

LONDON (Reuters) – The outlook for Britain’s pound versus the dollar has dimmed in the past month as expectations for the first interest rate rise by the Bank of England have been pushed back to later next year, a Reuters poll found.

Bank Rate has been at a record low of 0.5 percent since the depths of the financial crisis in early 2009 but upbeat data and hawkish talk from the central bank governor had seen markets and economists pricing in a rate hike early next year.

Nov 5, 2014

Sterling forecasts cut as early Bank of England hike hopes dim – Reuters poll

LONDON (Reuters) – The outlook for Britain’s pound versus the dollar has dimmed in the past month as expectations for the first interest rate rise by the Bank of England have been pushed back to later next year, a Reuters poll found.

Bank Rate has been at a record low of 0.5 percent since the depths of the financial crisis in early 2009 but upbeat data and hawkish talk from the central bank governor had seen markets and economists pricing in a rate hike early next year.

Nov 5, 2014

Low growth, price cuts plague euro zone, haunt ECB

LONDON, Nov 5 (Reuters) – Euro zone business growth picked
up less than expected in October despite another, deeper round
of price cuts, according to surveys that are unlikely to ease
simmering tensions among the bloc’s central bankers.

Companies have been discounting prices for over 2-1/2 years
and did so last month more steeply than at any time since early
2010, when the single currency area was mired in a sovereign
debt crisis.

Nov 5, 2014

Euro zone business growth remains weak in October despite deep price cuts: PMI

LONDON (Reuters) – Euro zone business growth picked up less than expected in October despite much deeper price cutting, according to business surveys on Wednesday that gave scant reason to be optimistic about the months ahead.

Firms have now been reducing prices for over 2-1/2 years and did so last month at the steepest rate since early 2010, just when the single currency bloc was sinking into the depths of a financial crisis.

Nov 3, 2014

October world factory activity expands slowly, stimulus still needed

LONDON/SYDNEY/NEW YORK (Reuters) – Global manufacturing activity increased last month at the same modest pace as in September, suggesting the need for continued economic policy stimulus, especially in Europe.JPMorgan’s Global Manufacturing Purchasing Managers’ Index, produced with Markit, held steady at 52.2 in October. But it was one of the lowest readings this year, suggesting factory activity is expanding slowly.

“The global PMI continues to signal 3-4 percent annualized gains in manufacturing output as we head toward year-end,” said David Hensley, a director at JPMorgan.