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Last Week’s Highlights
China’s Producer Prices Fall at Faster Rate
China’s latest factory gate figures indicate that the declines were faster than forecast. Official data showed that factory prices fell for the fourth consecutive month, reflecting weak demand.
Headline PPI shrank 3.7% on a yearly basis in May. This comes after a 3.1% decline in April. The drop was the biggest fall in PPI in nearly four years.
Eurozone GDP Contracts at Fastest Pace in 25 years
Economic activity in the euro area fell at the fastest pace in 25 years, official data showed last week. Data from Eurostat saw gross domestic production fall 3.6% on a sequential basis in the first quarter of this year.
However, the pace of declines was somewhat better compared to estimates of a 3.8% decline. The drop in the first quarter reversed a modest 0.1% increase in the fourth quarter of 2019.
Eurozone Private Sector Remains in Contraction
Private sector business in the eurozone continues to reel under the effects of the l...
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