Reuters US Economy

By Gaurav Dogra (Reuters) – Emerging Asian equities ex-China saw massive foreign purchases in August due to a rise in risk appetite based on tempered inflation expectations. Data from stock exchanges in South Korea, India, Taiwan, the Philippines, Vietnam, Indonesia and Thailand showed that foreigners had bought equities worth a net $7.54 billion, marking their …

Emerging Asia equities see biggest monthly foreign inflow in 20 months Read More »

By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s central bank is set to hike the country’s interest rate as early as this week, a source said, after the economy ministry rolled out a preferential exchange rate for soybean farmers dubbed the “soy dollar” in a bid to promote exports. The government announced the FX incentive …

Argentina to hasten rate hike after ‘soy dollar’ FX move, source says Read More »

By Jonathan Cable LONDON (Reuters) – The euro zone is almost certainly entering a recession, with surveys on Monday showing a deepening cost of living crisis and a gloomy outlook that is keeping consumers wary of spending. While there was some easing of price pressures, according to the surveys, they remained high and the European …

Europe heading for recession as cost of living crisis deepens Read More »

MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Monday he will hold a meeting with his cabinet members to strengthen the country’s anti-inflation plan, as financial analysts warn of an upward trend. “It is likely that we will stay a little above inflation in the United States, but this remains to …

Mexico’s president to strengthen anti-inflation plan Read More »

BERLIN (Reuters) – Germany, Europe’s largest economy, is still on course for a recession even with a new government plan to spend 65 billion euros ($64.49 billion) on shielding energy customers and businesses from soaring inflation, economists say. The latest package brings to 95 billion euros the amount allocated to inflation-busting since the Ukraine war …

Germany heading for recession despite new relief plan – economists Read More »

NAIROBI (Reuters) – Kenyan private sector activity contracted for the fifth consecutive month in August amid a broader slowdown as the country held elections, a survey showed on Monday. The S&P Global Kenya Purchasing Managers’ Index (PMI) dropped to 44.2 in August from 46.3 a month earlier. The index has stayed below the 50.0 mark …

Kenya private sector activity drops for fifth straight month in August -PMI Read More »

LONDON (Reuters) – Sterling plumbed a fresh post-pandemic low on Monday as Russia kept one of its main gas supply routes to Europe shut, adding to recession fears on the day that Britain is set to announce its new prime minister. The pound, one of the worst performing major currencies against the dollar this year, …

Sterling slides to post-pandemic low before new PM revealed Read More »

BERLIN (Reuters) – Germany’s services sector contracted for a second month running in August as domestic demand came under pressure from soaring inflation and faltering confidence, a survey showed on Monday. S&P Global’s final services Purchasing Managers’ Index (PMI) for August fell to 47.7 from 49.7 the previous month. That was also lower than the …

German services sector stumbles as soaring inflation hits confidence – PMI Read More »

PARIS (Reuters) – France’s dominant services sector lost more steam in August, and the outlook among purchasing managers appears bleak, a survey showed on Monday. S&P Global said its final monthly purchasing managers index for services in August fell to 51.2 points from 53.2 in July, slightly up from an initial late-August estimate of 51.0 …

French services sector ekes out growth in August – PMI Read More »

ROME (Reuters) – Italy’s service sector grew slightly in August after contracting the month before as inflationary pressures eased somewhat, a survey showed on Monday. S&P Global’s Purchasing Managers’ Index (PMI) for services rose to 50.5 in August from 48.4 in July, climbing back above the 50 mark that separates growth from contraction. The result …

Italy service sector returns to modest growth in August – PMI Read More »