Research institute Ifo has announced that confidence in the economy among German business leaders is continuing to improve. The index reached a level of 92.6 in August 2020 against a level of 90.5 in July. Economists had anticipated an increase to a level of 92.1. In April, the indicator dropped to the lowest level ever measured due to the corona crisis. In the months following, recovery started but the index is still below the value of one hundred representing neutral confidence.
Consumer confidence in the US economy on the other hand unexpectedly decreased in August compared to July according to market researcher Conference Board. The index that reflects confidence reached a level of 84.8 against a revised level of 91.7 in July. Economists had expected a slight increase to 93. Confidence has fallen to the lowest level in six years.
World trade showed a sound recovery from the corona crisis in June. According to the report published by the Central Planning Bureau (CPB) which speaks of a strong catch-up growth. Growth in world trade was 7.6 % in June compared to May. Industrial production is also showing further recovery with growth of 4.8 % compared to May. As a result, global production is 8 % lower than at the end of previous year.
The 6M Euribor is unchanged at -0.44% compared to previous business day. The 10Y Swap increased with 4 basis points to -0.18% 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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