The European statistics agency Eurostat reported on Friday that the eurozone economy declined 12.1% in the second quarter of this year compared to the first quarter. The differences between eurozone member states are considerable. Germany and Austria reported declines of 10.1% and 10.7%. Belgium reported a decline of -12.2% and Spain had by far the worst score with -18.5%. Portugal and France amounted to -13.8%. Of the Southern European countries, Italy scored an average -12.4%. Figures for Greece and the Netherlands are not available yet.
Consumer confidence in the US fell further in July. The University of Michigan announced that the index is at a level of 72.5 versus 73.2 the previous month. On the other hand, US consumer spending is increasing. The United States Department of Commerce reports spending has increased by 5.6% on a monthly basis.
Eurozone inflation increased to 0.4 percent year-on-year in July, from 0.3 percent in June, as was reported by Eurostat on the basis of a provisional figure. Economists in general had expected inflation to decline to 0.2 percent.
The 6M Euribor decreased with 1 basis point to -0.40% compared to previous business day. The 10Y Swap increased with 3 basis points to -0.23% 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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