Mena News

 

  Eurozone economic contraction confirmed at 0.6%
Mar , 07 , 2013  
  The Eurozone economy contracted 0.6% QoQ in 4Q 2012, marking the steepest rate of decline since 1Q 2009. This figure matched the preliminary estimate. Household final consumption expenditure fell 0.4% QoQ, while government spending dropped 0.1% QoQ. At the same time, investment declined at a quicker rate of 1.1% QoQ. Exports and imports dipped 0.9% QoQ during the same period.
 

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  US private jobs grow more than expected
Mar , 07 , 2013  
  Private sector employment in the US increased more-than-expected in February. The number of jobs grew 198,000, following an upwardly revised rise of 215,000 in January. Meanwhile, the market forecasted the private sector to add about 173,000 jobs compared to the addition of 192,000 jobs originally reported.
 

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  US factory orders decline in January
Mar , 07 , 2013  
  New orders for US manufactured goods dropped notably in January due to a substantial pullback in transportation equipment orders. Factory orders fell 2.0% in January, following a revised 1.3% increase in December. The market had expected orders to decrease by about 2.2% vis-ŕ-vis the 1.8% increase reported earlier.
 

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  Gold ends higher as dollar weakens
Mar , 06 , 2013  
  Gold ended marginally higher with the dollar dropping against some major currencies amid speculations of a rate cut in Europe. Gold for April delivery rose 0.2% to end at USD1,574.90 an ounce on the Comex division of the NYMEX.
 

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  Spain’s service sector deteriorates further in February
Mar , 06 , 2013  
  The service sector in Spain contracted further in February, with the related seasonally adjusted purchasing managers' index down to 44.7 from 47 in January.
 

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  Italy’s service sector continues to contract
Mar , 06 , 2013  
  The service sector in Italy continued to decline in February, marking its fastest rate of contraction. The seasonally adjusted purchasing managers' index for the sector dropped to 43.6 from 43.9 in January.
 

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  France’s service sector contracts at slower pace
Mar , 06 , 2013  
  The service sector in France continued to contract in February, albeit at a slower pace, with the services activity index climbing to 43.7 from a four-year low of 43.6 in January.
 

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  Germany’s private sector expands more than expected
Mar , 06 , 2013  
  The private sector in Germany expanded more than expected in February with the final composite output index coming in at 53.3, above the estimate of 52.7.
 

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  UK service sector posts fastest growth in five months
Mar , 06 , 2013  
  The service sector in the UK expanded at the fastest pace in five months in February, with the seasonally adjusted Chartered Institute of Purchasing & Supply (CIPS) Purchasing Managers' Index rising to 51.8 from 51.5 in January, beating the market estimate of a decline to 51.0.
 

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  Eurozone retail sales rise more than expected
Mar , 06 , 2013  
  Retail sales in the Eurozone increased more than economists’ expectations in January. The volume of sales grew 1.2% MoM, while the market forecast was 0.3% MoM.
 

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