Brexit, the economy and house prices (Part 3)

mayonnaise

Eurozone economic growth at six-year high during second quarter

The eurozone economy enjoyed its best quarter for
just over six years during the second quarter of
2017. Although output growth slowed slightly in
June, continued robust inflows of new work and
elevated business confidence kept the pace of job
creation among the best seen over the past
decade

https://www.markiteconomics.com/Survey/PressRelease.mvc/c8ecb5c434b442ae9589cb69b4f4672d

Good to see our European friends thriving.

A_Medium_Size_Jock

mayonnaise wrote: »

Eurozone economic growth at six-year high during second quarter

https://www.markiteconomics.com/Survey/PressRelease.mvc/c8ecb5c434b442ae9589cb69b4f4672d

Good to see our European friends thriving.

Strange.
Anything to do with forthcoming elections?
:whistle:

BERLIN — The number of unemployed Germans rose unexpectedly in June, the Federal Labour Office said on Friday

https://www.nytimes.com/reuters/2017/06/30/business/30reuters-germany-unemployment.html?mcubz=2

BERLIN (Alliance News) - Germany's consumer price inflation increased unexpectedly in June, preliminary data from Destatis revealed Thursday.
Inflation rose to 1.6% in June from 1.5% in May. Economists had forecast the rate to fall to 1.4%.

http://www.lse.co.uk/AllNews.asp?code=cue50tx1&headline=Germanys_Inflation_Rises_Unexpectedly_In_June

Thrugelmir

mayonnaise wrote: »

Good to see our European friends thriving.

Let's keep matters in perspective.

best seen over the past decade

How much longer is the ECB going to keep pumping money into the Eurozone for? Smoke and mirrors as they say. Eventually the policy will need to be reversed. Then we'll know if it has been successful or not.

mayonnaise

Eurozone sales rise to greatest extent in almost two years

Key points:
- Headline PMI rises to 53.2 from 52.0 in May
- Sales growth sharpest France
- Rate of jobs growth steepest since July 2006

https://www.markiteconomics.com/Survey/PressRelease.mvc/d4eb786204754ef3be24231646d357bc
Excellent news, I'm sure we can all agree.

A_Medium_Size_Jock

It's not often in positive territory for long so flags out!
See the historic chart here:
https://uk.investing.com/economic-calendar/retail-pmi-828

Now let's see if they get it right and sustain it this time EH?
From 2015:

The Eurozone looks set to finally break free from the doldrums of persistant stagnation with survey figures pointing to the strongest economic growth in the currency-bloc for four years.Markit’s composite purchasing managers’ index – which gauges business activity across all sectors of the economy – edged up to 54.3 in August, further in excess of the 50 mark that indicates no change in activity.

http://www.cityam.com/223557/eurozone-recovery-looks-set-to-last-this-time-but-france-lags-behind

Then in 2016:

Markit Economics released its retail purchasing managers' index (PMI) for Eurozone on Monday. Eurozone's construction purchasing managers' index (PMI) rose to 50.6 in May from 47.9 in April.
A reading above 50 indicates expansion in the sector, a reading below 50 indicates contraction.

https://teletrade.co.uk/analytics/news/3477584

mayonnaise

Rejoice!

France manufacturing output May 2017: +2.0%
https://www.insee.fr/en/statistiques/2895897
Germany industrial production May 2017: +1.2%
https://www.destatis.de/EN/PressServices/Press/pr/2017/07/PE17_231_421.html

Some nice numbers there, compared to the sick man of Europe...

UK index of production: May 2017 : -0.2%
https://www.ons.gov.uk/economy/economicoutputandproductivity/output/bulletins/indexofproduction/may2017

A_Medium_Size_Jock

mayonnaise wrote: »

Rejoice!

France manufacturing output May 2017: +2.0%
https://www.insee.fr/en/statistiques/2895897
Germany industrial production May 2017: +1.2%
https://www.destatis.de/EN/PressServices/Press/pr/2017/07/PE17_231_421.html

Some nice numbers there, compared to the sick man of Europe...

UK index of production: May 2017 : -0.2%
https://www.ons.gov.uk/economy/economicoutputandproductivity/output/bulletins/indexofproduction/may2017

How about a forecast?

The UK faces a costly bump in the road following Brexit – but it's a short-term blip, according to a new PwC study reported in The Independent.

http://www.theweek.co.uk/brexit/81116/brexit-hasnt-dimmed-londons-tech-appeal/page/0/10

mayonnaise

A_Medium_Size_Jock wrote: »

That was May; June's figures are due for release today.

This is today's ONS release, Jock.
The clue is in the release date of the statistical bulletin.

Release date:
7 July 2017

Today's release are figures for May.
June's figures will be released early August I assume.
Please do keep up.

Herzlos

Didn't I blow a load of holes in that infographic just yesterday?

Namely that it's predicting the growth assuming a £30bn short term economic hit and that migration and trade remains unhindered. I.e. the cake-and-eat-it Brexit that we all know won't happen.

A_Medium_Size_Jock

Herzlos wrote: »

Didn't I blow a load of holes in that infographic just yesterday?

Namely that it's predicting the growth assuming a £30bn short term economic hit and that migration and trade remains unhindered. I.e. the cake-and-eat-it Brexit that we all know won't happen.

No, as usual you tried - and failed miserably.

For explanation read another POV which agrees: https://www.spectator.co.uk/2017/07/the-quiet-successes-of-brexit/#