Macroeconomic weekly round up: China continues to stumble and inflation in Europe nowhere to be found
Nevil Gibson breaks down the week's biggest news in macroeconomics on NBR Radio, and on demand on MyNBR Radio.
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Scrutiny Week
In a quiet week for economic news, most attention was focused on China’s latest factory output figures.
The preliminary Caixin China manufacturing purchasing managers’ index predictably showed a drop in September, with the index falling to its lowest level since the global financial crisis.
Chinese stock markets fell on the news, which follows weak readings in August for fixed-asset investment, industrial production and exports.
China is struggling to meet its growth target of roughly 7% this year, the slowest pace in 25 years.
In Europe, activity in the manufacturing and services sectors slowed moderately in September.
The survey of more than 5000 businesses across the eurozone during September showed a drop in the purchasing managers’ index.
But the latest reading of 53.9 is still above 50, which indicates a drop in activity.
The annual rate of inflation declined to 0.1% in August from 0.2% July.
The world’s most expensive cities have been revealed, with New York City taking the top spot in UBS’ annual ranking of the world’s most expensive cities.
The cost of goods and services was higher in just two other cities – Zurich and Geneva – but they were less expensive than New York after including rent.
The cheapest cities last year among the 71 surveyed: Kiev, Ukraine, and the Bulgarian capital city, Sofia.
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NBR Radio
Fri, 25 Sep 2015
Fri, 25 Sep 2015
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Macroeconomic weekly round up: China continues to stumble and inflation in Europe nowhere to be found
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