Hard hitting global and local news
Follow this link: Eurozone New Business Sinks at Fastest Rate in 3 Years; Germany Composite PMI at 37-Month Low; Ass-Backwards…
Read more here: Preposterous Falsehoods From Gary North Regarding the Inflation/Deflation Debate
Headline Jobs +163,000, But Household Survey Shows -195,000 Jobs; Unemployment +.1 to 8.3% ADP got the headline job number correct, I certainly didn’t. However, one look beneath the surface shows this was actually an anemic jobs report
CNN Money reports Chinese buying of U.S. business at record pace Chinese direct investment in the United States could hit a record high in 2012, according to a new research report released Wednesday
View article: US Factory Orders "Unexpectedly" Decline; US Car Sales "Unexpectedly" Decline; Expect the Unexpected
Here are some snips from ECB President Draghi Statement to Press Conference Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged, following the decrease of 25 basis points in July. As we said a month ago, inflation should decline further in the course of 2012 and be below 2% again in 2013. Exceptionally high risk premia are observed in government bond prices in several countries and financial fragmentation hinders the effective working of monetary policy.
Reuters reports Global factories struggle as growth fears rise U.S. and euro zone factory activity slumped again in July while Chinese manufacturing hit an eight-month low, surveys showed on Wednesday, as economies worldwide showed signs of slowing
Output and new orders down at accelerated rates New export business decreases at sharpest rate in 15 months Average costs fall to greatest extent since November 2009 July data from Markit/JMMA showed manufacturing output falling at the sharpest rate in 15 months, as both new orders and new export business decreased at accelerated rates. After adjusting for seasonal factors, the headline Markit/JMMA Purchasing Managers’ Index™ (PMI™) posted 47.9 in July, down from 49.9 in June, a level indicative of a moderate deterioration in operating conditions. Moreover, the latest index reading was the lowest in 15 months
100,000 Workers in Spain Will Not be Paid Because Regional Government of Catalona is Broke The crisis in Spanish regional governments continues to escalate. El Pais reports Catalona Will Not Pay Hospitals or Private Centers and 100,000 workers are affected.
Link: Eurozone Retail Sales Sink 9th Month; 17th Month of Contraction in Italy; Margins Collapse in France; Germany Barely Above…