Breaking financial news

Breaking financial news from 25 june 2019.

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OECD inflation picks up to 2.5%

Consumer prices in OECD member states grew 2.5% y-o-y in April, the Organization said in a press release. The pace of growth accelerated from 2.3% in March and reached the highest level since November 2018. The pickup was mainly caused by a 3.8% increase in energy prices after a 2.7% rise in March. Meanwhile, food price growth slowed down from 2.4% to 2.3%. Excluding food and gasoline, inflation rose from 2.1% in March to 2.2%. In April, inflation strengthened in all of the world’s largest economies. Inflation grew from 1.9% a month ago to 2% in Canada and the US. German prices jumped 2% after rising 1.3% in March, Japanese prices rose 0.9% after a 0.5% increase. In France and the UK, the inflation rate rose 0.2% to 1.3% and 2%, respectively, and Italy’s inflation ticked up 0.1% to 1.1%. Consumer prices in 19 Eurozone member states (the HICP) grew 1.7% in April after rising 1.4% in March, while the core CPI picked up from 0.8% to 1.3%. Among EM economies, inflation accelerated in Argentina (from 54.7% to 55.8%), India (from 7.7% to 8.3%), Brazil (from 4.6% to 4.9%), Indonesia (from 2.5% to 2.8%) and China (from 2.3% to 2.5%). In South Africa, inflation slowed from 4.5% to 4.4%, while Russia’s inflation rate decelerated from 5.3% to 5.2%.

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Italian GDP could drop in 2Q

The Italian economy most likely contracted in the second quarter, statistical authority Istat said in its annual report. “The probability that GDP contracted in the second quarter is relatively high − 0.65 on a scale that has a zero value for expansion and a value of 1 for economic contraction,” it said. Meanwhile, Bloomberg-polled economists expect the Italian economy to expand 0.1% q-o-q during this quarter. To remind, Italy’s GDP rose 0.1% q-o-q in the first quarter, and in the course of two previous quarters it dropped 0.1%.
Pressure on Italy’s export-dependent economy could also come from weaker data out of Germany, the biggest Eurozone economy.
Specifically, Germany’s industrial output decreased at the highest pace in four years in April. The same month Italy’s industrial output dropped 0.7%. At the same time, Istat confirmed its GDP growth forecast for the country at 0.3% as it expects the economy to recover during the second half of the year. The Italian government anticipates GDP to grow 0.2% in 2019.

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Worldwide consumer technology spending could reach USD 1.3 tn in 2019

Consumer technology spending will rise 3.5% to USD 1.32 tn in 2019, research firm IDC forecasts. Meanwhile, total technology spending is expected to grow at a CAGR of 3% in 2018-2022, and will reach USD 1.43 tn by the end of this period. Traditional technologies (personal computers, cellphones and mobile services) will account for 96% of spending in 2019, with a CAGR of around 2.4% in 2018-2022. New technologies (drones, robots, smart homes, VR headsets, wearable devices) are expected to show a much higher CAGR (20.6%), with smart home devices set to demonstrate the fastest rate of growth (38%).

Breaking financial news from 25 june 2019.

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