MAR
18
0

Week Ahead Global Economic Preview - Week of 18 March 2019

Global overview

US FOMC and BoE meetingsFlash PMIs for US, Japan, Euro-area and AustraliaUK Brexit deal set for third parliamentary vote

A week in which the US Fed and the Bank of England meet to setmonetary policy also sees the release of flash PMIs for the US,Eurozone, Japan and Australia - as well as the potential forfurther Brexit drama.

Although no changes are expected at upcoming monetary policygatherings, the Fed and Bank of England have both switched to amore dovish stance after tightening last year, and the pressconferences from the meetings will be scoured for indications ofany further shift in tone.

The renewed caution largely reflects concerns about slowingglobal growth, meaning the flash PMI survey updates will beespecially closely watched for clues as to whether the globaleconomy continued to lose momentum in March, and hence whethercentral banks will grow more concerned about downside risks.February PMI data showed that the pace of global economic growthremained among the weakest since 2016, led by a near-stalling ofmanufacturing output and falling trade flows. Inflation indicatorsalso continued to cool.

With the Reserve Bank of Australia having highlighted the riskthat the next policy move could be a rate cut, and the Bank ofJapan having likewise changed tack from hawkish rhetoric last year,PMIs will add context to upcoming policy meetings.

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© IHSMarkit

MAR
18
0

Week Ahead Global Economic Preview - Week of 18 March 2019

Global overview

US FOMC and BoE meetingsFlash PMIs for US, Japan, Euro-area and AustraliaUK Brexit deal set for third parliamentary vote

A week in which the US Fed and the Bank of England meet to setmonetary policy also sees the release of flash PMIs for the US,Eurozone, Japan and Australia - as well as the potential forfurther Brexit drama.

Although no changes are expected at upcoming monetary policygatherings, the Fed and Bank of England have both switched to amore dovish stance after tightening last year, and the pressconferences from the meetings will be scoured for indications ofany further shift in tone.

The renewed caution largely reflects concerns about slowingglobal growth, meaning the flash PMI survey updates will beespecially closely watched for clues as to whether the globaleconomy continued to lose momentum in March, and hence whethercentral banks will grow more concerned about downside risks.February PMI data showed that the pace of global economic growthremained among the weakest since 2016, led by a near-stalling ofmanufacturing output and falling trade flows. Inflation indicatorsalso continued to cool.

With the Reserve Bank of Australia having highlighted the riskthat the next policy move could be a rate cut, and the Bank ofJapan having likewise changed tack from hawkish rhetoric last year,PMIs will add context to upcoming policy meetings.

Continue reading

Copyright

© IHSMarkit

MAR
18
0

Euro area and EU28 job vacancy rates at 2.3%

The job vacancy rate in the euro area (EA19) was 2.3% in the fourth quarter of 2018, up from 2.1% in the third quarter of 2018 and from 2.0% in the fourth quarter of 2017, according to figures published by Eurostat, the statistical office of the European Union. In the EU28, the job vacancy rate was also 2.3% in the fourth quarter of 2018, up from 2.2% in the third quarter of 2018 and from 2.0% in the fourth quarter of 2017.Original link

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© Eurostat

MAR
18
0

Euro area international trade in goods surplus €1.5 bn

The first estimate for euro area (EA19) exports of goods to the rest of the world in January 2019 was €183.4 billion, an increase of 2.5% compared with January 2018 (€179.0 bn). Imports from the rest of the world stood at €181.8 bn, a rise of 3.4% compared with January 2018 (€175.9 bn).Original link

Copyright

© Eurostat

MAR
15
0

Annual inflation up to 1.5% in the euro area

The euro area annual inflation rate was 1.5% in February 2019, up from 1.4% in January 2019. A year earlier, the rate was 1.1%. European Union annual inflation was 1.6% in February 2019, up from 1.5% in January 2019. A year earlier, the rate was 1.4%. These figures are published by Eurostat, the statistical office of the European Union.Original link

Copyright

© Eurostat

MAR
15
0

Highest proportion of government expenditure goes to social protection and health

In 2017, total government expenditure in the European Union (EU) amounted to 45.8% of gross domestic product (GDP). This share has steadily decreased since 2012, when it stood at 48.9% of GDP.Original link

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© Eurostat

MAR
15
0

ZEW Discussion Papers DP No. 19 - 007: Externalities in Knowledge Production: Evidence from a Randomized Field Experiment

Do contributions to online content platforms induce a feedback loop of ever more user-generated content or will they discourage future contributions? To assess this, we use a randomized field experiment which added content to some pages in Wikipedia while leaving similar pages unchanged. We find that adding content has a negligible impact on the subsequent long-run growth of content. Our results have implications for information seeding and incentivizing contributions, implying that additional content does not generate sizable externalities, neither by inspiring nor by discouraging future contributions.Original link

Copyright

© ZEW

MAR
15
0

ZEW Discussion Papers DP No. 19-006: Do Companies Benefit from Public Research Organizations? The Impact of the Fraunhofer Society in Germany

Among available policy levers to boost innovation, investment in applied research organisations has received little empirical attention. In this paper, we analyse the case of the Fraunhofer Society, the largest public applied research organization in Germany. We analyse whether project interaction with Fraunhofer affects the performance and strategic orientation of firms. To that end, we assemble a unique dataset based on the confidential Fraunhofer-internal project management system and merge it with the German contribution to the Community Innovation Survey , which contains panel information on firm performance. Using instrumental variables that exploit the scale heteroscedasticity of...Original link

Copyright

© ZEW

MAR
15
0

Bilateral Local Currency Swap Agreement With the Bank of Japan

The Reserve Bank of Australia has extended its bilateral local currency swap agreement with the Bank of Japan for a further three years.Original link

Copyright

© RBA

MAR
15
0

Preschool Education, Australia (Additional Information)

Preschool programs reach most Australian children (Media Release)Original link

Copyright

© absau

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