Get in touch - Bank of Valletta - BOV Group
Customer Service Centre - Bank of Valletta - BOV Group
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
Maximise Banner
Minimise Banner
next Previous
next Previous
next Previous
BOV Market Watch - Week ending 8th October 2021
08 Oct 2021
Eurozone retail sales grew less than expected in August. Eurozone retail sales grew less than expected in August, after declining in the previous month, preliminary data from Eurostat showed on Wednesday. Retail sales in the countries the share the euro currency rose by 0.3 percent month-on-month in August compared with expectations of a 0.8 percent increase and a decline of 2.6 percent the previous month, the release showed. On an annualised basis, the bloc’s retail sales came in at zero percent in August after increasing by 3.1 percent in July and 0.4 percent estimated. "With energy prices soaring, furlough schemes ending and rebound effects waning, we expect consumption growth to fade over the course of the fourth quarter," said Bert Colijn, and economist at ING.

UK service sector continues to expand in September.
The UK services sector continued to grow in September, but severe supply constraints fueled inflationary pressures, final survey data from IHS Markit showed on Tuesday. The Chartered Institute of Procurement & Supply final services Purchasing Managers' Index came in at 55.4 in September, up slightly from August's six-month low of 55.0. New order growth weakened for the fourth consecutive month. Staff shortages, supply chain issues and the end of the stamp duty holiday on property transactions were among the most commonly cited reasons for softer demand. The survey showed that a lack of candidates to fill job vacancies and persistently high numbers of departing staff acted as a considerable dampener on employment growth.

German factory orders plummet in August
. German factory orders fell significantly in August, plummeting 7.7 percent compared to the previous month, according to official figures published on Wednesday. The August fall more than offset a revised 4.9 percent rise in July and was the biggest percentage decline since April 2020. Orders were forecast to drop moderately by 2.1 percent. Excluding major orders, manufacturing orders decreased by 5.1 percent from July. Year-on-year, manufacturing orders advanced 11.7 percent after rising 26.1 percent in the previous month. Although the trend in orders sectors other than automobile continues to point upward, manufacturing is likely to remain a drag on the recovery of the German economy, Ralph Solveen, a Commerzbank economist said.

US jobless claims fall for the first time in four weeks.
A report released by the US Labour Department on Thursday shows a bigger than expected decline in first-time claims for unemployment benefits by Americas in the week ended October 2nd. The report showed that initial jobless claims fell to 326,000, a decrease of 38,000 from the previous week's revised 364,000. Economists had expected jobless claims to fall back to 348,000 from the 362,000 originally reported for the previous week. The bigger than expected decrease came after jobless claims rose for three weeks in a row, to their highest level since early August. "Initial jobless claims resumed their downtrend at last, confirming the labour market remains on a positive track," said Lydia Boussour, Lead US Economist at Oxford Economics.

China's services sector returns to growth in Septembe
r. China’s services sector returned to growth in September as a major Covid-19 outbreak in the eastern province of Jiangsu receded, a private-sector poll showed on Friday, offering some relief to a slowing economy. The Caixin/Markit services Purchasing Managers’ Index (PMI) soared to 53.4 from 46.7 in August, pulling away from the lowest level seen since the height of the pandemic last year. The 50-point delimiter separates expansion from contraction. The better readings in the survey, which focuses more on smaller firms in coastal regions, are in line with findings in an official survey last week which also showed the services industry returned to activity growth.
Share this item:
Print page
Sort reviews by:
This item has no reviews yet.
My Guide has identified the following related material
next Previous
 
BOV Pjazza
next Previous
Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).