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Canada manufacturing sales dropped record -28.5% in April
<p>Canada manufacturing sales dropped a record -28.5% mom to CAD 36.4B in April, much worse than expectation of -20.2% mom. StatCan said, “April marked the first full month of physical distancing measures in the wake of COVID-19 and manufacturing plants operated at limited capacity or ceased operations completely.” Sales were down
US Empire state manufacturing rose to -0.2, six-month expectations jumped to decade high
<p>US Empire State Manufacturing Business Conditions rose notably to -0.2 in May, up from -48.5. Looking at some details, new orders jumped form -42.4 to -0.6. Shipments jumped from -39.0 to 3.3. Delivery time rose from -4.1 to 1.3. Price paid rose from 4.1 to 16.9. Price received rose from -7.4 to -0.6. Number of […]
Germany economy ministry: H2 recovery will be sluggish and take longer
<p>Germany’s Economy Ministry said in the monthly report that the economy is in a “deep recession” due to coronavirus pandemic. The “low point” was already reached with the tough shutdown measures in April. Overall economic performance will “decline much more strongly on average” in Q2, comparing to Q
Eurozone trade surplus shrank to EUR 1.2B in Apr (s.a.), intra-EA trade dropped -21.7% mom
<p>In April, in non-seasonally adjusted term, Eurozone exports to the world contracted -29.3% yoy to EUR 136.6B. Imports from the rest of the world contracted -24.6% yoy to EUR 133.7B. Trade surplus dropped to EUR 2.9B. Intraday Eurozone trade also dropped -32.3% yoy to EUR 112.4B. In seasonally adjusted term, extra Eurozone exports dropped f
China industrial production continues to rebound while retail sales shrink
<p>Released from China, industrial production grew 4.4% yoy in May, accelerated from April’s 3.9% yoy, but missed expectation of 5.0% yoy. Retail sales’s contraction slowed to -2.8% yoy, up from April’s -5.7% yoy, and missed expectation of -2.0% yoy. Fixed asset investment dropped -6.3% ytd yoy, missed expectation of -5.9% y