February 6, 2023 | Daily JAM, Morning Briefing |
Eurozone retail sales dropped by 2.7% in December from a month earlier. November retail sales rose 1.2% from October. Economists were looking for a 2.4% month-to-month drop in December so these results were worse than expected. (The EuroZone figures are adjusted for inflation.) Retail sales decreased by 2.8% in December of 2022 on a year-over-year basis.
October 2, 2014 | Daily JAM, Morning Briefing |
Not enough! Financial markets have responded. “We want more details.” On the news for the European Central Bank the euro has climbed against the U.S. dollar and European stock markets have plunged
June 28, 2013 | Uncategorized |
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January 16, 2013 | Daily JAM, Mid Term, Morning Briefing |
The World Bank has cut its forecast for global economic growth in 2013 to 2.4% from a June 2012 forecast for 2013 of 3%. The bank’s growth projections are down pretty much across the globe but the world’s developed economies took the biggest part of the cuts.
January 15, 2013 | Daily JAM, Morning Briefing |
The German economy, the EuroZone’s strongest, contracted by 0.5% in the fourth quarter. That’s not good news for efforts in Italy, Spain, Ireland, and Portugal to hit aggressive budget deficit reduction targets in 2013.
October 25, 2012 | Daily JAM, Morning Briefing |
On Wednesday Greece reached an agreement with the Troika of the International Monetary Fund, the European Commission, and the European Central Bank that should clear the way to approval by the EuroZone’s finance ministers on November 12 for Greece to receive the next 31.5 billion euro payment under the country’s rescue plan.
October 1, 2012 | Daily JAM, Morning Briefing, Short Term |
More evidence—in case you needed it—that Europe has slipped back into recession in the third quarter. And the newest economic danger zone is named France. In September Europe’s manufacturing sector suffered its worst decline since 2009, according to the Markit Economics purchasing managers index released this morning
March 1, 2012 | Daily JAM, Morning Briefing |
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February 1, 2012 | Daily JAM, Morning Briefing |
The consensus today in the financial markets seems to be that the United States continues to show surprising strength, China isn’t headed for a hard landing, and Europe is slowing toward a modest recession.