Research published by the European statistics agency Eurostat shows that the eurozone economy declined by 3.8 percent in the first quarter of this year, the strongest decline since the beginning of the measurements. For the entire European Union, a shrinkage of 3.3 percent was recorded this quarter. Eurostat further reported that employment in the eurozone fell by 0.2 percent in the first quarter compared to the previous period. That is the first time the employment in the eurozone declined since 2013.
Factories in the United States produced 13.7 percent less in April than a month earlier. It is the sharpest decline since the Federal Reserve started to keep records (1919). Many factories were forced to close or decrease their production. Several states allowed only vital production as part of their lockdown measures against the coronavirus. At the same time, US producers were experiencing a sharp decline in export demand and logistical problems.
Consumer confidence in the US has risen unexpectedly, according to the University of Michigan. A preliminary estimate of the index for May shows a level of 73.7, compared to a level of 71.8 in April. In April, consumer confidence has shown a sharp decline. Economists had expected an average level of 68 for May.
The 6M Euribor is unchanged at -0.14% compared to previous business day. The 10Y Swap is unchanged at -0.16% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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