China production expected to rebound quickly after floods

on , from scmp.com

Deadly flooding in China has caused billions of yuan in financial losses and a slowdown in industrial production — but possible government spending on repairs could see manufacturing bounce back soon. Flooding in the Yangtze River basin and northeastern China last month was the worst since 1998 and left a US$33 billion (HK$256 billion) economic toll on the country, according to a catastrophe report released by London-based insurance broker Aon on Thursday. Just two per cent of the damage was covered by insurance, Aon said. The flooding, which left an estimated 764 people dead or missing, according to the Ministry of Civil Affairs, forced ... (Read the full story)

Swiss Consumer Price Index in July 2016 fall by 0.4%

on , from admin.ch

The Swiss Consumer Price Index (CPI) fell by 0.4% in July 2016 compared with the previous month, reaching 100.3 points (December 2015=100). Inflation was -0.2% in comparison with the same month in the previous year. These are the findings of the Federal Statistical Office (FSO). (Read the full story)

There are more billionaires than ever before - and they're worth a total of $7.7 trillion Alex Morrell 31m 2

on , from businessinsider.com

Being a billionaire is now a more humdrum affair than ever before. The once rarefied cadre of humans with a net worth eclipsing $1 billion ballooned to 2,473 in 2015 — a new record, according to wealth information and insight firm Wealth-X, which released its annual Billionaire Census Monday. Though the three-comma club is becoming more crowded, there's still only one billionaire in the world for every 2.95 million people. Wealth-X also found that the richest people on earth are richer than ever before. The combined net worth of all billionaires increased 5.3% to $7.7 trillion — larger than the GDP of France, the United Kingdom, ... (Read the full story)

German Production in June 2016: +0.8% seasonally adjusted on the previous month

on , from destatis.de

In June 2016,production in industry was up by 0.8% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In May 2016, the corrected figure shows a decrease of 0.9% (primary –1.3%) from April 2016. In June 2016, production in industry excluding energy and construction was up by 1.5%. Within industry, the production of capital goods increased by 3.5% and the production of consumer goods by 1.2%. The production of intermediate goods decreased by 0.7%. Energy production was down by 2.7% in June 2016 and the production in construction decreased ... (Read the full story)

3 Numbers: Germany ripe for industrial upswing

on , from tradingfloor.com

The main event for economic news for Europe today is the monthly update on Germany’s industrial output for June. We’ll also see new investor sentiment data for the Eurozone via Sentix, followed by the release of the Federal Reserve’s US Labor Market Conditions Index for July. Germany: Industrial Production (0600 GMT) A decline in factory orders in June for Europe’s biggest economy serves as a reminder that Germany’s growth prospects remain subdued. Although domestic orders increased by a solid 0.7%, foreign orders tumbled 1.2%, with Eurozone ex-Germany demand falling a steep 8.5%. The news on orders is a bit surprising in the wake ... (Read the full story)