Great Recession in Europe
Exports hit $24 billion in March
Türkiye's exports increased by 4.4 percent in March from a year ago to 23.6 billion, data from the Turkish Statistical Institute (TÜİK) have shown.
Imports rose 3.4 percent on an annual basis to $31.9 billion. Consequently, the country's foreign trade deficit amounted to $8.3 billion, marking a limited 0.9 percent increase compared with March last year.
- Read more about Exports hit $24 billion in March
- Log in to post comments
Bulgaria has the Second Highest Hourly Wage Growth in the EU
In 2022, the average hourly wage in the entire EU economy was 22.9 euros, and in the Eurozone - 25.5 euros, according to data released today by the European statistical service Eurostat, cited by BTA. Compared to 2021, it grows by 4.4 percent in the EU and 4 percent in the Eurozone.
China’s economic growth jumps to 4.5 percent
China's gross domestic product grew 4.5 percent in the first quarter of the year, boosted by increased consumption and retail sales after authorities abruptly abandoned the stringent "zero-COVID" strategy.
- Read more about China’s economic growth jumps to 4.5 percent
- Log in to post comments
Retails sales rise 22 percent in February
Retail sales volume has increased by 21.5 percent in February from the same month of last year, data from the Turkish Statistical Institute (TÜİK) have shown.
This was lower than the 34 percent year-on-year increase in retail sales in January. Strong earthquakes hit several provinces in Türkiye's south in early February, which devastated businesses and killed more than 50,000 people.
- Read more about Retails sales rise 22 percent in February
- Log in to post comments
Current account, industrial production data out this week
This week will see the releases of some key macroeconomic data, including the current account balance, industrial production and jobless rate.
Today, the Central Bank will announce the current account figures for February. Analysts expect the current account gap to be around $8.5 billion in February.
Bulgaria’s Ministry of Finance predicts a Slowdown in Economic Growth to 1.8% this year
The Bulgarian economy will slow its growth to 1.8 percent this year, according to the spring macroeconomic forecast of the Ministry of Finance.
Due to the Russian war against Ukraine, an alternative scenario has also been developed, according to which the growth of the gross domestic product (GDP) at current prices may deviate downwards by between 0.5 percentage points.
Eurozone inflation falls sharply to 6.9 pct in March
Inflation in the eurozone slowed more sharply than expected in March but food prices jumped even as energy costs eased, official data showed on March 31.
Consumer prices rose by 6.9 percent on an annual basis, down from 8.5 percent in February, according to the European Union's statistics agency.
EU: The Eurozone will avoid Recession this Winter
The Eurozone economy will avoid recession this winter after growing by 0.1% in the fourth quarter of 2022, according to official data from the European Union's Statistics Agency.
The figure was lower than the 0.3% growth recorded in the third quarter of 2022, but better than economists' forecasts for a contraction.
- Read more about EU: The Eurozone will avoid Recession this Winter
- Log in to post comments
Retail sales grow more than 12 percent
The retail sales volume index rose by 12.1 percent in November 2022 from a year ago, data from the Turkish Statistical Institute (TÜİK) have shown.
Food, beverages and tobacco product sales increased by 5.7 percent on an annual basis, while non-food retail sales exhibited a yearly rise of 17.7 percent.
Automotive fuel sales were up 4 percent.
- Read more about Retail sales grow more than 12 percent
- Log in to post comments
German factory orders down sharply
Factory orders in Germany dropped 5.3 percent in November compared with the previous month, on a sharp drop in foreign demand, official figures showed on Jan. 6.
New orders, an important indicator for Europe's biggest economy, dropped for the third time in four months following a 0.6 percent uptick in October.
- Read more about German factory orders down sharply
- Log in to post comments