The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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German manufacturing orders fall : Report

German manufacturing orders slumped at the start of the fourth quarter owing to weak demand for capital goods, especially from the euro zone, and following a previous glut of bulk orders
Manufacturing orders in October dropped 2.2% on the month, partly erasing September's 3.1% gain, and falling short of economists' forecasts of a 1.0% decline
Orders growth in September was slightly weaker than previously estimated
Feeble demand in October follows a flood of bulk orders in September, especially for ships, rail and aviation equipment, indicating that "the positive trend in orders continues", according to the ministry
Domestic orders in October dropped 2.0% on the month; foreign orders were down 2.3%
Total orders of capital goods, meanwhile, declined 5.2%, fully erasing September's gain of the same order
Euro-zone demand for capital goods in October dropped 6.9% on the month, after surging 22.8% in September
The recovery of Germany's key industrial sector is expected to continue as companies become increasingly optimistic about future trade, the ministry said
Separately, Germany's central bank Friday raised its growth forecasts for Europe's largest economy Economic growth should accelerate to 1.7% in 2014 and 2.0% in 2015 from "no more than 0.5%" this year, the Bundesbank said
"The German economy is in good shape: the unemployment rate is low, employment is rising, and wage growth is returning to normal," Bundesbank president Jens Weidmann said
Those factors combined with low interest rates "are supporting private consumption and driving housing construction," he added

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LONDON--Lloyds Banking Group PLC said it has sold a portfolio of non-performing Irish retail mortgages to Tanager Ltd., an entity affiliated with Apollo Global Management LLC for 257 million pounds ($420.4 million) in cash.

The 33%-U.K. government owned bank said it will use the money raised for general corporate purposes, adding that the deal, although capital accretive, isn't expected to have a material impact on the group due to existing provisions taken against these assets.

Gross assets of the portfolio, which generated losses of GBP33 million in the year ended Dec. 31, are GBP610 million.

The portfolio shares closed Thursday at 77 pence, valuing the company at GB55.09 billion.

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Greece could use veto to force shift in euro policy