The research firm Ifo announced that the German business confidence fell sharply in January 2016. The confidence index fell to 107.3, compared to 108.6 in December 2015. Markets expected a slight decline to 108.4. German entrepreneurs are especially more pessimistic due to the weakening of the global economy.
In 2015, global steel production declined by 2.8% to 1.6 billion tons. These figures were published by the World Steel Association. Chinese steel production decreased by 2.3%, but its share of the world production rose from 49.3% to 49.5%. The steel production of Europe and the United States respectively declined with 1.8% and 8.6%.
Figures published by Statistics Netherlands showed that the total number of companies in the Netherlands grew with 5% In 2015. There were 163 thousand companies have been established against 100 thousand companies that have been terminated. The growth is mainly from small businesses, 80% of the companies consist of no more than one person. Furthermore, a quarter of the total companies is active in the services sector, making it the largest sector in terms of the number of active companies.
The Chinese stock markets closed with a big loss today. The Shanghai Composite Index fell 6.4%, while the CSI 300 index closed 6% lower.
The 6M Euribor remained unchanged at -0.07%. The 10Y Swap decreased 2 basispoints to 0.76%.
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