The Indian economy showed a historic contraction of 23.9% in the second quarter of 2020 compared to the previous year. The economy has been hit hard by the coronavirus outbreak and the extensive lockdown measures. It is the strongest contraction since the beginning of the quarterly measurements in 1996, according to the Indian government. The contraction is significantly higher than expected, as economists were expecting a contraction of 18%.
Business activity in the Chinese industry grew again in August, to its highest level since the beginning of 2011. According to figures from research firms Markit and Caixin. The purchasing managers index, which reflects activity, stood at 53.1 last month compared to 52.8 a month earlier. Economists expected a level of 52.5. Experts point out that overseas demand is driving the industry’s recovery.
Inflation in Germany reached 0.0% on a yearly basis in August, according to the preliminary figures reported by the German Federal Statistical Office. Economists expected an average inflation rate of 0.1%. On a monthly basis, inflation was -0.1%.
The 6M Euribor is unchanged at -0.44% compared to previous business day. The 10Y Swap decreased with 1 basis point to -0.15% 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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