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  • Squawk / 2 hours ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    Irish unemployment declines to 10% in March:

    The Irish economy continues to recovery quickly from its deep recession. Further evidence of this development has come today in the shape of a labour market, which shows that the unemployment rate declined to 10% last month from 10.1% prior and 15% at the peak in February 2012.

    Jobless claims declined by 4,700 to 350,600, the lowest reading since February 2009. Since the peak the number of people getting jobless benefits has dropped by 98,300.

    I expect the Irish economy to grow around 3.5% in both 2015 and 2016 following an increase of 4.8% last year. GDP is currently 3.5% below the peak-crisis peak, but up 9.8% from the trough.
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    1h
    Juhani Huopainen Juhani Huopainen
    The nice thing is that the lower unemployment rate is not due to people dropping out of the labour force. http://www.cso.ie/multiquicktables/quickTables.aspx?id=qnq37
  • Squawk / 4 hours ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    Global PMI day sees China, euro area surprise to the upside:

    A string of economies report March PMI manufacturing figures today led by China. The world's second-largest economy recorded a 50.1 reading last month vs. 49.7 expected and 49.9 prior. Also the unofficial HSBC China PMI manufacturing index was stronger than expected at 49.6 vs. 49.3 expected and 49.2 prior. Meanwhile Japan saw an unchanged if quite small increase in manufacturing output (50.3 vs. 50.4 prior).

    Turning to Europe, the euro area (EZ) PMI manuf. index was revised up in the final report to 52.2 vs. 51.9 exp and 51.9 originally (51 in Feb). This is the strongest reading for the EZ since May 2014. Both France and Germany's indices were revised higher in the final report. Italy, Sweden and Switzerland all surprised positively while Spain and Ireland remain robust.

    I expect EZ growth of at least 1.5%. Consensus sees 1.3%. See our Essential Trades for more: https://www.tradingfloor.com/publications/essential-trades
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  • Article / 8 hours ago

    3 Numbers: Upbeat Spanish manufacturing PMI; US ADP jobs; US industry

    editor/analyst / CapitalSpectator.com
    United States
    3 Numbers: Upbeat Spanish manufacturing PMI; US ADP jobs; US industry
    Spain is a bright spot for the Eurozone, and today's Manufacturing PMI should signal continued economic growth. In the US, the ADP release for private payrolls in March is expected to reveal a solid gain of 230,000 jobs – a modest improvement over February’s 212,000 rise. But in contrast to the encouraging news on employment, today’s ISM release may reveal signs of a troubling deceleration in US manufacturing.
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  • Article / 10 hours ago

    Bank of Japan remains in no man’s land

    Managing Director / Technical Research Limited
    New Zealand
    Bank of Japan remains in no man’s land
    Economic data reveals little to encourage the Bank of Japan in its fight against public enemy number one, the deflationary mindset. The annual inflation rate has reached zero and is in danger of relapsing into the previous deflation zone. With both the currency and relative costs of production falling, the double-whammy effect accounts for the 45-year low in the exchange rate.

    Inflation rate has returned to zero

    Exchange rate at 45 year low having little impact
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    7h
    Patto Patto
    a good summary of the situation Max
    6h
    Max McKegg Max McKegg
    Thanks