The turnover of the Dutch retail sector increased sharply in the second quarter of 2020. Turnover increased by 5.9% compared to the second quarter of 2019. In particular the food sector benefited from the closure of bars and restaurants in the Netherlands and recorded a 7.5% increase in turnover. The non-food sector recorded a small turnover decrease of 1.6%, which was largely due to less sales in the clothing industry (-29.5%) and the shoe industry (-25.3%). On average, entrepreneurs are pessimistic about the expected turnover of the third quarter of 2020.
Figures from research firms Markit and Caixin show that Chinese industrial activity grew to its highest level since early 2011 in July 2020. The purchasing managers index was 52.8 in July versus 51.2 in the previous month. These figures are in line with data from the Chinese government.
The Japanese government has published final figures showing that the Japanese economy contracted by 2.2% in the first quarter of 2020. With a contraction of 7.2% already recorded in the fourth quarter of 2019, the Japanese economy has entered a recession. The outlook for the second quarter is even more bleak due to the corona crisis. Analysts expect an average contraction of 20% of the Japanese economy.
The 6M Euribor decreased with 1 basis point to -0.41% compared to previous business day. The 10Y Swap is unchanged at -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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