MAR
13
0

Industrial production up by 1.4% in euro area

In January 2019 compared with December 2018, seasonally adjusted industrial production rose by 1.4% in the euro area (EA19) and by 1.0% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In December 2018, industrial production fell by 0.9% in the euro area and by 0.4% in the EU28.Original link

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© Eurostat

MAR
13
0

Aktuell: Better Trade-Secret Protection Can Have Adverse Effects on the Common Good

The ZEW Research Department “Economics of Innovation and Industrial Dynamics” recently created the Junior Research Group “Competition and Innovation” that studies the law and economics of competition and innovation. Bernhard Ganglmair, who heads the group, talks with us about its research and sheds light on the potential applications.Original link

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© ZEW

MAR
12
0

Manufacturing and trade act as drags on global economy

The following is an extract from IHS Markit's monthly PMIoverview presentation. For the full report please click on the linkat the bottom of the article.

Global PMI lifts higher on back of stronger servicesector expansion

The pace of global economic growth picked up in February from anear two-and-a-half year low at the start of the year, but remainedamong the weakest since 2016. The JPMorgan Global PMI, compiled by IHS Markit, rose from 52.1 inJanuary to 52.6. Despite the rise, the PMI still suggests theglobal economy could struggle to expand at a rate in excess of 2.0%in Q1 (measured at market prices), down from an estimated 2.3% inQ4 2018 and a peak of 2.9% at the end of 2017.

The slowdown was led by a near-stagnation of manufacturingoutput, in turn largely attributable to a further downturn inglobal trade. Worldwide exports fell for a sixth straight month,dropping at the steepest rate since May 2016. In contrast, servicesector growth perked up to a three-month high, offsetting themanufacturing slowdown, buoyed by faster inflows of new business,suggesting domestic market demand remains encouragingly robust inmany key economies.

Chris Williamson, Chief Business Economist, IHSMarkitTel: +44 207 260 This email address is being protected from spambots. You need JavaScript enabled to view it.

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© IHSMarkit

MAR
12
0

Over 5 million births in EU in 2017

In 2017, 5.075 million babies were born in the European Union (EU), compared with 5.148 million in 2016. The total fertility rate in the EU stood at 1.59 births per woman in 2017, compared with 1.60 in 2016. The highest total fertility rate since the start of comparable time series was in 2010 when it reached 1.62, still below the replacement level, which is considered to be 2.1 live births per woman.Original link

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© Eurostat

MAR
12
0

Labour Account Australia, Quarterly Experimental Estimates

Secondary jobs top one million (Media Release)Original link

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© absau

MAR
12
0

Lending to households and businesses, Australia

Lending to households falls 2.4 per cent (Media Release)Original link

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© absau

MAR
12
0

Labour Account Australia, Quarterly Experimental Estimates

Original link

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© absau

MAR
12
0

International Merchandise Trade: Confidential Commodities List

Confidentiality changes to various commoditiesOriginal link

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© absau

MAR
12
0

Lending to households and businesses, Australia

Original link

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© absau

MAR
12
0

Powell, Brief Remarks

Good evening, and thank you for inviting me to speak to you today.

The National Community Reinvestment Coalition (NCRC) and its member organizations are at the forefront of an important conversation about how to ensure that low- and moderate-income communities are fairly served by the banking industry. The work that you do to promote access to basic banking services, affordable housing, and entrepreneurship opportunities supports the Federal Reserve and other agencies that enforce fair lending laws. The large number and variety of NCRC's local member organizations allow the NCRC to draw a detailed picture of how the Federal Reserve's policies affect lower-income communities, and we deeply appreciate the information that you share with us and the work that it represents.

As you know all too well, the current strength of the overall economy masks the struggles many individuals and families face in lower-income urban and rural communities. Low- and moderate-income homeowners saw their wealth stripped away as home values dropped during the financial crisis and have not recovered as quickly or completely as others. Because home equity has been the main source of wealth among low- and moderate-income people, the crisis dealt a particularly severe blow to these households. Most Americans rely on home equity to send their children to college, invest in their own education and training, or start or grow a business. These aspirations are the basis upon which a strong economy is built. That is why your work as NCRC member organizations offering financial counseling, homeownership education, and technical assistance for small businesses is as important as ever.

When lower-income individuals and families struggle, it harms their health and well-being and also weakens our economy. When people are connected to education, training, and other resources that help them secure good jobs and other opportunities, they are better prepared to care for themselves and their families and contribute to a strong economy.

The Federal Reserve has an extensive community development function, related to our responsibilities under the Community Reinvestment Act (CRA), that promotes partnerships between banks and community organizations to address local community and economic development needs. As you know, the CRA requires federal banking regulators--the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation--to encourage banks to help meet the credit needs of the communities they are chartered to serve, including low- and moderate-income neighborhoods. To complement the work we do with the other regulators to write regulations and guidance implementing CRA, the Federal Reserve System's community development staff help banks understand and meet their responsibilities under the law. Fed staff members also act as liaisons between banks and community organizations to identify local community development needs and solutions.

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© FEDERALRESERVE

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