Posts Tagged ‘euro zone’
Euro zone economic sentiment surges in July
The euro zone received a boost today after a report revealed business and consumer confidence surged to its highest level since March 2008.
Confidence in the 16-member nation rose to 101.3 in July, up from a revised 99 in June, according to the European Commission’s economic sentiment index.
However, the Commission highlighted that the rise was led [...]
Credit Suisse profits rise despite euro zone difficulties
Credit Suisse, which is Switzerland’s second-largest bank, has today exceeded expectations by reporting second quarter profits of SwFr1.6 billion (£1 billion).
Compared to the same three-month period a year ago, earnings were 1% higher but were down 22% when compared with the first quarter of the year.
The rise in profits came despite a 32% drop in [...]
Euro zone industrial production increases for third straight month
Industrial production in the euro zone increased for the third month in a row in May.
Industrial output rose by 0.9% from April and was 9.4% higher than in May 2009, according to European Union statistics agency Eurostat.
However, the figures missed forecasts of a 1.3% monthly rise and an 11.3% annual gain.
“May’s euro zone [...]
Euro zone interest rates on hold at 1%
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the 14th consecutive month, as widely expected.
Interest rates are expected to remain on hold until at least 2011, as a result of uneven growth and low inflation.
The news comes after the Bank of England elected [...]
IMF upwardly revises global growth
The International Monetary Fund (IMF) has today lifted its global growth forecast for 2010 to 4.6%, up from the 4.2% forecast in April.
However, it maintained its 2011 growth forecast at 4.%.
The upward revision for 2010 comes despite ongoing financial turmoil in the euro zone, triggered by Greece’s debt crisis that threatened to spread across [...]