The economic contraction in the eurozone in the second quarter is slightly less than previously estimated according to definitive figures reported by the European statistical office Eurostat. The contraction was 11.8 %, compared to the first quarter, from a previously reported 12.8 %. For the entire European Union, the contraction was 11.4 % against an earlier estimated 11.7 %. Eurostat also announced that employment in the eurozone fell by a revised 2.9 % quarter on quarter in the second quarter. In the entire European Union, the contraction was 2.7 %.
Statistics Netherlands (CBS) reports that industrial production in the Netherlands was 5.8 % lower in July 2020 compared to July 2019. The decrease is smaller than in the previous three months. Of the eight largest sectors in the industry, production in the machinery repair and installation sector contracted the most. The food sector shrank the least and the chemical industry production even grew for the first time in more than a year. In addition, Statistics Netherlands reports that the confidence of industrial producers improved for the fourth month in a row.
Chinese producer prices fell again in August. According to the statistics office, prices of Chinese manufacturers fell 2 % year-on-year from a 2.4 % drop in July. This is mainly due to lower prices in the oil and energy sector. Economists had expected a slightly smaller decrease of 1.9 % and expect the weak price climate to continue for the time being.
The 6M Euribor decreased with 1 basis point to -0.46% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.22% 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.
Managed by Sluijmer Multimedia and hosted by True.