Reuters UK Business

Italy to grow by 0.7% this year and next as outlook weakens, central bank says

13 Dec 2024

MILAN (Reuters) – The Italian economy will expand by 0.7% both this year and next, the country’s central bank said on Friday, cutting estimates made in October as the monthly flow of data continues to weaken. The projections are below those of the Italian government, which officially forecasts growth of 1.0% this year and 1.2% …

Italy to grow by 0.7% this year and next as outlook weakens, central bank says Read More »

Bank of Portugal slightly raises growth forecast, sees small 2025 deficit

13 Dec 2024

By Sergio Goncalves LISBON (Reuters) -The Bank of Portugal slightly raised its economic growth forecast for 2025 on Friday but predicted a small budget deficit of 0.1% of gross domestic product because of growing public spending, after an earlier projection of a surplus. In its year-end economic bulletin, the central bank said the economy should …

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ECB’s Centeno sees further gradual rate easing in coming quarters

13 Dec 2024

LISBON (Reuters) – European Central Bank policymaker Mario Centeno predicted on Friday further gradual interest rate cuts in the coming quarters to ease what remains a ‘restrictive rate level’ to around 2%. He said Thursday’s decision to cut the ECB’s key rate by 0.25 percentage points to 3% was ‘fortunately absolutely consensual’. “In the future, …

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Italian tax chief quits, accusing politicians of undermining his work

13 Dec 2024

ROME (Reuters) – The head of Italy’s tax collection agency announced on Friday that he was resigning, complaining that politicians had demonised the fight against fiscal fraud. Ernesto Maria Ruffini has headed Italy’s Revenue Agency since 2020 and had another year to run on his contract, but he told the Corriere della Sera newspaper that …

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ECB governors back more rate cuts if inflation settles at goal

13 Dec 2024

FRANKFURT (Reuters) -Four European Central Bank policymakers backed further interest rate cuts on Friday provided that inflation settles at the ECB’s 2% goal as expected. The euro zone’s central bank cut interest rates for the fourth time this year on Thursday and kept the door open to more easing, although some analysts felt President Christine …

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Germany’s VCI expects chemicals industry to stagnate in 2025

13 Dec 2024

By Chiara Holzhaeuser and Ozan Ergenay (Reuters) -Industry lobby VCI said on Friday it expects German chemicals industry orders and sales to stagnate in 2025 as high producer prices and low order backlogs weigh on revenues. The association, which represents around 1,900 companies, said revenues in the chemical-pharmaceutical industry decreased by 2% to 221 billion …

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Dutch economic growth to pick up unless trade war hits, central bank says

13 Dec 2024

AMSTERDAM (Reuters) – Economic growth in the Netherlands will pick up in the coming years unless U.S. import tariffs and European retaliation unleash a trade war, the Dutch central bank (DNB) said on Friday. Growth in the euro zone’s fifth-largest economy is expected to accelerate to 1.5% in both 2025 and 2026, following a 0.9% …

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Italy’s F2i ready to raise funds to buy into state railway’s high-speed company

13 Dec 2024

ROME (Reuters) – Italy’s F2i is ready to raise funds to invest in the high-speed network company the state-controlled railway group Ferrovie dello Stato (FS) will soon set up, the chief executive of the infrastructure fund told Reuters on Friday. On Thursday, FS said it would spin off its high-speed network into a dedicated company, …

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Euro zone industry did not fall in Oct but recovery not in sight

13 Dec 2024

FRANKFURT (Reuters) – Euro zone industrial production was unchanged in October from the previous month, outperforming expectations of a slight fall, but data suggested that no recovery was in sight for a sector deep in recession for close to two years now. The unchanged figure released by Eurostat was just ahead of economist forecasts for …

Euro zone industry did not fall in Oct but recovery not in sight Read More »

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