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dpa-AFX overview: ECONOMY from 09/23/2020 – 5:00 p.m. | message

5


ROUNDUP: Corporate sentiment in the euro area is noticeably clouding over

LONDON – In view of the increasing number of new corona infections, business sentiment in the euro area has noticeably deteriorated again. The research company IHS Markit announced on Wednesday in London that the purchasing managers index fell by 1.8 points to 50.1 points in September. Analysts, however, had expected a slight improvement to an average of 52.0 points.

USA: House prices rise surprisingly significantly – FHFA

NEW YORK – House prices in the USA rose surprisingly significantly in July. The FHFA house price index increased by 1.0 percent compared to the previous month, as the Federal Housing Finance Agency (FHFA) announced on Wednesday in New York. Analysts had only expected an increase of 0.5 percent on average.

UK: Business sentiment is noticeably clouding over

LONDON – Business sentiment in the UK deteriorated noticeably in September. The purchasing managers index fell by 3.4 points to 55.7 points, as the research company IHS Markit announced in London on Wednesday. Analysts had expected a decline, but estimated it to be less pronounced on average. With more than 50 points, however, the indicator still clearly shows growth.

Spain: the economy collapses a little less in the corona crisis

MADRID – The collapse of the Spanish economy in the Corona crisis was a little less drastic than previously known. The fourth largest economy in the euro zone had shrunk by 17.8 percent in the second quarter compared to the previous quarter, said the national statistics office INE on Wednesday in Madrid. An initial estimate was based on a drop of 18.5 percent.

Italy calls for ‘security in return’ in the EU migration pact

ROM – Italy’s Prime Minister Giuseppe Conte has described the asylum pact presented by the EU Commission as an “important step towards a truly European migration policy”. At the same time, Conte warned on Twitter for security for the particularly affected countries. “We need security in repatriation and redistribution: the arrival countries cannot manage the flows for Europe alone,” said the prime minister of the center-left coalition in Rome.

Scholz does not expect a black zero until 2024

BERLIN – Finance Minister Olaf Scholz (SPD) does not expect a return to the black zero in the coming years, i.e. a federal budget completely without new debts. The Vice Chancellor said in Berlin on Wednesday that he wanted to take out the loans that the debt brake would allow in the years 2022 to 2024. The debt brake in the Basic Law enables a low level of new debt.

ILO: Massive income losses worldwide due to Corona

GENEVA – The income of workers worldwide has plummeted due to the corona pandemic. The decline is likely to be 3.5 trillion dollars (around three trillion euros) from January to the end of September, the International Labor Organization (ILO) reported in Geneva on Wednesday. That is a decrease of 10.7 percent compared to the same period in 2019. State income subsidies are not taken into account in these figures. The people depend on income to feed their families, said ILO Director General Guy Ryder. “The consequences (of this loss) are catastrophic,” he said.

Customer note:

ROUNDUP: You are reading a summary in the economic overview. There are several reports on this topic on the dpa-AFX news service.

/ jsl



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