US real gross domestic product (GDP) increased at an annualisd 2.0% in the third quarter of 2010 after increasing 1.7% in the second quarter, according to estimates released today by the Bureau of Economic Analysis.
Irish retail sales volume dipped 0.9% in month of September — Sales were flat in Q3 compared with Q2
The volume of retail sales (i.e. excluding price effects) fell by 0.3% in September 2010 when compared with September 2009 and there was a monthly fall of 0.9%. If Motor Trades are excluded, the volume of retail sales decreased by 2.5% in September 2010 when compared with September 2009 and there was a monthly decrease of 0.8%. There was no change in sales volume in Q 3 compared with Q2.
Loans to Irish households again fell in September; Slight increase in business loans; Bank deposits fell and bank borrowings from the ECB was €83bn
The Central Bank reported today that loans to Irish households again fell in September. There was a slight increase in loans to business while bank deposits fell and domestic bank borrowing from the ECB was €83bn.
Eurozone inflation rises to 1.9% in October; Unemployment increases to 10.1% in September; Ireland at 14.1% and Netherlands at 4.4%
Eurozone annual inflation is expected to be 1.9% in October 2010 according to a flash estimate issued by Eurostat, the statistics office of the European Union. It was 1.8% in September. Meanwhile, the Eurozone seasonally-adjusted unemployment rate was 10.1% in September 2010, compared with 10.0% in August. It was 9.8% in September 2009. The EU27 unemployment rate was 9.6% in September 2010, unchanged compared with August. It was 9.3% in September 2009. Ireland was at 14.1% and the Netherlands was the lowest at 4.4%.
Markets News Friday: Microsoft reports fiscal first quarter net income up 51%; Ryanair criticises UK Office of Fair Trading probe of its Aer Lingus stake
Markets news on stocks, currencies and commodities; Microsoft reports fiscal first quarter net income up 51%; Ryanair criticises UK Office of Fair Trading probe of its Aer Lingus stake.
Eurozone retail sales fell for third month running in October; Official data shows German retail sales fell in September
Eurozone retailers witnessed a further slide in sales revenues in October. The latest retail PMI (Purchasing Managers’ Index) data from Markit covering the currency bloc signalled that sales fell for the third month running on a seasonally adjusted basis. The Eurozone Retail PMI – – which tracks monthly changes in the value of sales at retailers – – remained below the no-change mark of 50.0, signalling contraction. Moreover, the PMI fell to 48.0, indicating the fastest rate of decline since May. Meanwhile, official data today showed German retail sales fell by 2.3%
in September from the previous month.
IMF says US dollar is ‘overvalued’ on currency markets while China’s yuan/renminbi is ‘substantially undervalued’
The International Monetary Fund (IMF) said on Thursday that the US dollar is ‘overvalued’ on currency markets, while China’s yuan/renminbi is ‘substantially undervalued.’
Principal news stories from the Irish Independent, Irish Times, Irish Examiner, Financial Times and New York Times.
Republicans are poised to retake the US House next week without a mandate says Bloomberg National Poll; Bill Clinton is most popular politician
Republicans are poised to retake the US House next week without a mandate from voters to carry out their policies, a Bloomberg National Poll shows. Former President Bill Clinton is the most popular politician.
Irish Economy: The original Mac the Knife (in Act 1 Scene 7 of Macbeth: “If it were done when ’tis done, then ’twere well it were done quickly” ) pondered the benefits of immediate action provided such action achieved the desired outcome, according to Brendan Dowling, chairman of Irish economic consultants DKM.