Euroland GDP

Few Comments on Euroland GDP Figures

August 14, 2013

Note that Euroland expresses GDP changes without the U.S. convention of annualization.  Thus U.S. second quarter GDP growth, which was reported earlier as 1.7% — the change if the 2Q-over-1Q pace were sustained for a full year — would in the European custom be expressed as a 0.4% advance.  Similarly, British and Japanese growth on […] More

Weak Ezone GDP Data Sends Euro Below $1.2900

May 15, 2013

The dollar is stronger across the board, with gains of 0.8% against the Swissie, 0.6% versus the euro, 0.4% relative to the yen, loonie and Aussie dollar, 0.2% against the kiwi, and 0.1% versus the yuan and sterling. Japan’s Nikkei-225 shot up 338 points or 2.3%, closing above 15,000 for the first time since January […] More

Yen at Six-Month Low; Euroland GDP Fell Modestly in 3Q

November 15, 2012

A lot of European data were released, but today’s main currency movement belongs to the yen. Dollar/yen rose 1.1% to a 6-month high of 81.16.  The greenback rose 0.4% against the Aussie dollar but slipped 0.2% relative to the euro, Swiss franc, and loonie.  Sterling is unchanged, and China’s yuan is softer. Stocks in the […] More

Big Day for Central Bank Watching

September 6, 2012

The Aussie dollar has rebounded 0.5% against its U.S. counterpart in spite of soft Australian labor market data. The U.S. currency otherwise is unchanged against the yen and sterling and down by 0.3% against the kiwi, 0.2% relative to the loonie and 0.1% versus the euro, Swiss franc and yuan. High expectations ahead of the […] More

Last Effort to Avert Greek Election Do-over in June

May 15, 2012

Released European data overnight were mixed.  The United States releases many economic indicators as well today.  German Chancellor Merkel and French President Hollande meet today, and there is a meeting too of EU finance ministers. The dollar has lost 0.3% against the Australian dollar, 0.2% versus the loonie and 0.1% against the yuan, euro and […] More

Risk Aversion Gathering Further Momentum on a Key Week

March 6, 2012

Share prices slumped 2.2% in Hong Kong, 2.0% in Singapore, 1.6% in China, 1.4% in Australia, 1.1% in India, 1.3% in The Philippines, 0.8% in Taiwan and South Korea, and 0.6% in Japan.  In Europe, the German Dax and Paris Cac are off 1.5%, and the British Ftse has lost 1.1%. Gold and oil prices […] More

Upbeat Market Mood Despite Persistent Uncertainty

February 15, 2012

Share prices jumped 2.3% in Japan, 2.1% in Hong Kong, 2.0% in India, 1.5% in Taiwan, 1.8% in Thailand, 1.1% in China and South Korea, and 0.3% in Australia.  The German Dax is 1.1% higher, and the Paris Cac has climbed 1.0%.  Disappointing results included New Zealand (down 1.1%) and Britain (up only 0.2%). In […] More

Post-Great Recession Recovery Too Short and Too Shallow in the Euro Area

November 15, 2011

The Great Recession was associated with a 2008 calendar year uptick of Euroland GDP of just 0.4% followed by a contraction of 4.2% in 2009.  In the ensuing recovery, real GDP expanded by 3.8% over the nine quarters between mid-2009 and 3Q11 including gains of just 0.2% each in the two most recent periods.  A […] More

Risk Aversion Sends Stocks and Commodities Lower and Yen and Dollar Higher

June 8, 2011

Euroland officials still haggling over the composition of a Greek bailout. OPEC ministers meeting in Vienna have range of stands over whether to raise oil production. Moody’s again warns that British AAA sovereign debt rating may get downgraded. Today’s release of the Fed Beige Book of regional trends comes amid mounting concern that U.S. growth […] More

Japanese, U.S. and Euro Area First-Quarter Growth

May 19, 2011

Japanese real GDP imploded 3.7% at an annualized rate last quarter, while U.S. real GDP advanced by 1.75%.  Real GDP in Japan was 1.0% lower than a year earlier and 5.6% below its pre-recession peak.  U.S. real GDP was 2.3% higher than in the first quarter of 2010 and 0.6% above the pre-recession level.  The […] More