Tag Archives: Economic indicators

Germany’s partial lockdown pushed more companies to work in a short period of time: Ifo | Instant News


FILE PHOTO: A commuter wearing a face mask walks at Cologne’s main station after the federal state of North Rhine-Westphalia decided to mandate the use of protective masks on buses, trains and shops to fight the spread of the coronavirus disease (COVID-19), in Cologne, Germany, April 27, 2020. REUTERS / Wolfgang Rattay

BERLIN (Reuters) – The share of companies in Germany using short-term employment schemes increased in November compared with the previous month, the economic institute Ifo said Monday, as partial closures hit jobs in the tourism and restaurant industries.

Ifo said a survey of around 7,000 companies showed that the share of companies using the scheme rose to 28% in November from 24.8% in October.

Short-term employment, also known as Kurzarbeit, allows employers to divert employees to work less or even work during an economic downturn. It aims to stop the immediate shock that leads to mass unemployment.

Reporting by Riham Alkousaa; editing by Thomas Seythal

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Australia braces to recover from recession as COVID cases fall: Reuters poll | Instant News


SYDNEY (Reuters) – Australia’s economy is forecast to have grown the fastest in the past 12 years, although the country has yet to get out of trouble with fiscal stimulus easing and companies hit by the coronavirus are still reluctant to increase spending.

Official figures on Wednesday will show the economy grew by about 2.5% in the July-September quarter, according to a Reuters poll, bouncing back from its first recession since 1991. Gross domestic product slumped 7% in the previous three months as the coronavirus control brought it back. a lot of impact. the country came to a standstill.

Growth in the current quarter looks stronger as the state of Victoria, previously a hotspot for COVID-19, emerged from the lockdown of the marathon in October, while other states reopened widely in May. Most of Australia, including Victoria, has seen no new community cases for weeks.

Even so, the country’s central bank is expected to keep policy rates near zero and extend its A $ 100 billion ($ 73.86 billion) quantitative easing program next year as inflation and unemployment are likely to lower its target range for the time being.

“The biggest unknown is whether consumers and businesses are spending money,” said Peter Munckton, chief economist at the Bank of Queensland.

Business investment, badly needed to boost productivity and growth, is still frozen while unemployment has risen to 7.2% from below 5% before the pandemic and there is no sign of wage inflation.

“The central case economic forecast for the next two years is still not good enough,” added Munckton.

“Current projections have sharply reduced fiscal policy support in the next financial year. It also means that the Reserve Bank may have to further increase the size of its bond-buying program. “

However, the short-term prospects are better.

Preliminary data on Monday showed fewer Australians were on the government’s “Keeper of Work” temporary welfare payments in October as the economy continued to reopen, allowing more people to return to work.

Business and consumer confidence have surged in recent months while household spending has also surged. The price of housing and home loans has also increased.

Most economists have increased their GDP forecasts for the last two quarters of 2020.

A rise in GDP in the fourth quarter will see Australia and New Zealand into outliers, with growth in other parts of the developed world expected to slow as countries face a new wave of infections.

Some expect Australia’s economic output to return to pre-pandemic levels as soon as the first half of next year.

Conversely, several countries in the northern hemisphere should continue with lockdown conditions, suggesting “expectations for pre-COVID activity levels need to be pushed further into the future,” said Citi economist Josh Williamson.

Reporting by Swati Pandey; Editing Ana Nicolaci da Costa and Sam Holmes

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More than half of German retailers are pessimistic about Christmas: HDE | Instant News


FILE PHOTOS: Arlette Kaballo, designer and owner of several fashion shops beckons as she stands in her empty shop with no customers and almost no turnaround caused by a partial lockdown due to the spread of the coronavirus disease (COVID-19) in Cologne, Germany, November 26 2020. REUTERS / Wolfgang Rattay / Photo Files

BERLIN (Reuters) – More than half of German retailers expect fewer customers and decreased sales during the key Christmas period, according to a survey of 550 companies by the German Retail Association (HDE).

“The Christmas business outlook in this coronavirus year is very bad, especially for many urban retailers and especially fashion houses,” said HDE managing director Stefan Genth on Sunday.

About 52% of companies expect significant losses in sales and customers after extending the partial lockdown of the country through December, the survey found, with 62% of retailers surveyed pessimistic about the next run of Christmas business.

“November and December are usually the strongest months of the year in terms of sales for many retailers. If these sales are now gone, many businesses will be in trouble ”.

The survey found that 38% of retail companies as a whole and 45% of inner-city retailers see their existence as threatened.

Retailers selling household goods, DIY supplies, furniture and food, however, are reporting very good business, HDE said, while online sales are expected to increase by a third over the previous year.

Overall, the HDE retail association expects sales for November and December to rise 1.2% this year to just under 104 billion euros ($ 124 billion).

($ 1 = 0.8360 euros)

Reporting by Klaus Lauer; Written by Caroline Copley; Edited by Frances Kerry

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TABLE – Pakistan’s foreign reserves increased $ 484 million to $ 13,415.5 in the week ended November 20 | Instant News


    KARACHI, Pakistan, Nov 26 (Reuters) - Pakistan's foreign
exchange reserves increase $484 million to $13,415.5 million in
the week ending Nov 20, compared to $12,931.2 million in the
previous week, central bank said on Thursday.
     RESERVES        Week ending    Previous Week  Change/pct
   ($ billions)         Nov 20                     
 Held by the State  $13,415.5 mln   $12,931.2 mln      3.7
 Bank of Pakistan                                  
      Held by       $7,136.9 mln    $7,154.4 mln      -0.2
 commercial banks                                  
       Total        $20,552.4 mln   $20,085.6 mln      2.3
    During week ending November 20, State Bank reserves
increased by $484 million due to official inflows, central bank
statement said on Thursday.
    
    
     
    

 (Reporting by Syed Raza Hassan)
  

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Brazil created a record 394,989 formal jobs in October | Instant News


BRASILIA (Reuters) – Formal job creation in Brazil spiked to a record high in October, figures showed on Thursday, as the dominant service sector bounced back to account for about 40% of new jobs.

FILE PHOTOS: Young men look at job listings posted on a street in downtown Sao Paulo, Brazil April 24, 2019. REUTERS / Amanda Perobelli

The 394,989 net formal jobs were created in October, the economy ministry said, marking the fourth straight month of gains and significantly more than the 233,500 forecast in a Reuters economist poll.

The economic ministry chart below shows the scale of job growth in October compared to the same month in previous years.

Graph: Brazilian formal employment growth –

That reduced the net number of formal job losses in the first 10 months of this year to 171,139, the ministry said, also significantly less than 2015 and 2016 when Brazil was last in recession.

Welcoming the record, Economy Minister Paulo Guedes said that Brazil could end the year with no formal job losses at all as the economic rebound in the second half of the year brought back most of the jobs lost in the first half.

“In this recession … we don’t lose focus, we bounce back, and we create jobs very quickly. We can reach the end of the year without losing our formal jobs. Zero, “said Guedes, adding that this represents” a historic year for the Brazilian economy “.

In October, 1.55 million jobs were created and 1.15 million cut, the ministry said. Services leads with 156,766 new jobs, followed by trade (115,646) and industry (86,426).

In the first 10 months of 2015 and 2016, 818,918 and 751,816 jobs were lost, respectively, according to economy ministry figures.

The figures also show that the formal labor market in October consisted of 38.6 million workers, the highest since March this year as desperate workers returned to find work.

Official labor market data for the three months to September will be released next week. The unemployment rate is expected to rise to a new high of 14.9% from 14.4%.

Reporting by Jamie McGeever; Edited by Angus MacSwan

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