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UK Manufacturing Sector Shrinks Sharply

5 days ago | rttnews.com | Renju Jaya

The UK factory sector shrank further in May as the weak global demand, trade tensions and rising cost burdens weighed on production and new orders, the purchasing managers' survey results from S&P Global showed on Monday. The final manufacturing PMI rose to a three-month high of 46.4 in May from 45.4 in April. The reading was also above the flash estimate of 45.1. However, the score remained well below the neutral level of 50.0, suggesting contraction.
Eurozone Manufacturing Activity Contraction Slows

5 days ago | rttnews.com | Renju Jaya

Euro area factory activity fell at the slowest pace in more than two years in May, signaling a gradual progress towards recovery, final results of the purchasing managers' survey from S&P Global showed on Monday. The HCOB final manufacturing Purchasing Managers' Index rose to 49.4 in May, in line with the flash estimate, from 49.0 in April. The score came closer to the no-change mark of 50 suggesting stabilization and also hit its highest level since August 2022.
UK Mortgage Approvals Fall Unexpectedly; House Prices Rise

5 days ago | rttnews.com | Renju Jaya

UK mortgage approvals declined unexpectedly to the lowest level in more than a year in April as stamp duty holiday ended in March, data from the Bank of England revealed Monday. Elsewhere, data from the mortgage lender Nationwide Building Society showed that house prices rebounded unexpectedly in May suggesting momentum in underlying demand. Approvals for home loans rose to 60,463 in May from 63,603 in the previous month, the central bank data showed.
8 Injured In Colorado Fire Attack By Man Yelling 'free Palestine'

5 days ago | rttnews.com | Joji Xavier

Police arrested a man who hurled Molotov cocktails at a Jewish community gathering in Boulder, Colorado, injuring eight people. The victims were in the age group of 52-88, who reportedly gathered in support of Israeli hostages in Gaza at the Pearl Street Mall Sunday night. The suspect, Mohamed Sabry Soliman, was seen screaming "free Palestine" during the attack, reports citing video footage said.
Swiss GDP Growth Accelerates In Q1

5 days ago | rttnews.com | Renju Jaya

Switzerland's economic growth accelerated in the first quarter on a notable rebound in exports to the US ahead of expected tariff hikes, official data revealed on Monday. Gross domestic product expanded by an adjusted 0.8 percent sequentially after rising 0.6 percent in the fourth quarter of 2024, the State Secretariat for Economic Affairs, or SECO, reported. On a yearly basis, economic growth improved to 2.2 percent from 1.3 percent a quarter ago.
Right-wing EU-skeptic Karol Nawrocki Elected Poland's President

5 days ago | rttnews.com | Joji Xavier

Conservative EU-skeptic historian Karol Nawrocki has narrowly won Poland's presidential election. In the second round of voting Sunday, the opposition Law and Justice (PiS) Party candidate won 50.9 per cent of the votes while Rafal Trzaskowski of the ruling Civic Coalition party received 49.1 per cent. Trzaskowski, the liberal mayor of capital Warsaw, had claimed victory after the first exit poll, while Nawrocki cautioned that the results were too close to call.
UK Nationwide House Prices Rebound In May

5 days ago | rttnews.com | Renju Jaya

UK house prices rebounded unexpectedly in May, data from Nationwide Building Society showed Monday. House prices grew 0.5 percent on a monthly basis, in contrast to the 0.6 percent fall in April. Prices were expected to remain flat. Year-on-year, house price growth edged up to 3.5 percent from 3.4 percent in April.
Dutch Manufacturing Downturn Continues

5 days ago | rttnews.com | Renju Jaya

The Dutch manufacturing downturn continued in May due to subdued demand conditions, survey data from S&P Global showed on Monday. The Nevi manufacturing Purchasing Managers' Index registered 49.0 in May, down from 49.2 in April. A score below 50.0 indicates contraction in the sector. Output was the only one of the five components of PMI that provided an overall positive contribution. New orders declined once again as customers remained resistant to place orders.
European Economic News Preview: Eurozone Final Factory PMI Due

5 days ago | rttnews.com | Renju Jaya

Final manufacturing Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Monday. At 2.00 am ET, UK Nationwide house price data is due. House prices are forecast to remain flat month-on-month in May, in contrast to the 0.6 percent fall in April. At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss retail sales for April. Sales are expected to grow 2.5 percent on a yearly basis, following a 2.2 percent rise in March.
Trade Worries Hurt Crypto Sentiment

1 week ago | rttnews.com | Avila Sebastian

Renewed trade jitters dragged down sentiment across the crypto market. Worries about the legal ramifications of the tariffs in the U.S. complicating the trade tariff environment as well as the trade negotiations between the U.S. and its trading partners dampened crypto market sentiment. Outflows from Bitcoin Spot ETF products also swayed market sentiment. The PCE-based inflation readings from the U.S. that more or less matched expectations limited losses.