Economic News

LONDON (Thomson Financial) - European government bonds took a respite from recent declines as stock markets were lower today in the US and Europe, renewing risk-aversion strategies among investors. After heavy losses in past days, driven by rate cut assumptions being scaled back in the US, a fall in stocks has managed to give the bond market a floor. However, analysts warn that any strength in US ...

BRUSSELS (Thomson Financial) - European Central Bank executive board member Juergen Stark said the ECB sees no sign of weakening yet in euro zone growth despite financial market turmoil, but it is awaiting new data before making any interest rate decisions. "We haven't seen any clear sign of weakening in the economy," Stark told reporters ahead of a speech. "We are in an informati ...

TOKYO (Thomson Financial) - Japanese consumer confidence rose for the first time in five months in September after hitting a near three-year low in August, on consumer belief that economic conditions have improved and easing worries about inflation, data from the Cabinet Office showed Friday. The consumer confidence index rose to 44.1 in September from 44.0 in August, which was the lowest level s ...

KUALA LUMPUR (Thomson Financial) - Wal-Mart Stores Inc, the world's largest retailer, and Metro AG of Germany have submitted their applications to the Malaysian government to set up local operations, the Edge Financial Daily reported Friday. The newspaper quoted Domestic Trade and Consumer Affairs Minister Mohd Shafie Apdal as saying that the government is currently vetting the applications. &qu ...

(updates with detail, reaction) WASHINGTON (Thomson Financial) - The US trade deficit narrowed more than expected in August to its lowest level in seven months, as record exports more than compensated for record oil import prices. This left the real, inflation-adjusted trade deficit at its lowest level in more than three years. The Commerce Department reported a 57.6 bln usd trade gap, down 2.4 ...

Manufacturers enjoyed the strongest demand for their goods in nearly 20 years in the July to September period. The British Chambers of Commerce (BCC) said its measure of domestic sales in the manufacturing sector rose to +36. This was the highest level since records began in 1989 and higher than the +31 figure in the second quarter. But the survey of nearly 5,000 manufacturing and services firms also showed that manufacturers were under pressure to raise prices. The balance of manufacturing  ...

LONDON (Thomson Financial) - The Canadian dollar jumped to a 31-year high against the US dollar, supported by strengthening commodity prices. Oil prices extended yesterday's gains following an International Energy Agency report revealing that forward stock cover within the OECD now stands below the five-year average, while gold prices were trading at close to a 28-year high. "Relative price ...

(Adds further detail, comments) LONDON (Thomson Financial) - The UK economy is set to slow sharply over the coming months as the services sector, which accounts for around three quarters of the country's total output, comes off the boil, a leading business lobby group said today. In its quarterly survey of economic activity, the British Chambers of Commerce revealed that the services sector reco ...

This is Money11 October 2007 Reader comments (2) | Vote | Guide | Blog The housing market could be in a much worse state than previous thought as figures today showed house prices falling at their fastest rate for two years. WANT TO KNOW MORE? Latest: House prices 'set to fall by thousands' Pre-Budget: Second home and buy-to-let tax gift Analysis: Are house prices falling or rising? Blog: 'Negative equity is back' POLL: How will September's credit crisis impact on hous ...

SEOUL (Thomson Financial) - The Bank of Korea (BoK) said Thursday it is keeping its benchmark call rate target unchanged for the second straight month, as widely expected by the market. Analysts said the decision shows that the central bank, with inflation under control, is still assessing whether previous rate increases have achieved the desired effect of siphoning off excess liquidity. There a ...