Europe

Taiwan’s TSMC breaks ground on $11 billion chip factory in Germany

TSMC expects to hold a 70 percent stake in the Germany plant, with the other partners will each hold 10 percent

BoE rate cut spurs upturn in U.K. property market activity, sale inquiries up 19 percent in August

Average five-year fixed mortgage rate is now 4.80 percent, which is still high compared with three years ago

Euro area trade surplus hits $24.6 billion, driven by machinery and vehicles

Intra-euro area trade fell 5.9 percent in the first half of 2024, reaching EUR1,303.8 billion

Switzerland’s industrial production up 7.3 percent on manufacturing and construction

This growth rate represents the largest increase since the first quarter of 2021

Service sector fuels German employment growth, adding 229,000 jobs in Q2 2024

The total number of employed and self-employed individuals rose to 46.1 million

U.K. house prices rise 2.3 percent in July, biggest yearly increase since January: Report

London continues to have the most expensive house prices in the U.K., now averaging at 536,052 pounds, up 1.2 percent

Higher spending at Paris Olympic Games boosts French economy, says Visa

Travel to Paris by travelers under the age of 35 grew 120 percent annually during the Paris Olympic Games

Growth picks up in U.K. service sector on stronger demand in July: PMI

Both input costs and output charges rose at historically elevated rates in July, reflecting sluggish progress on inflation

Spain fines Booking.com over $446 million for alleged anti-competitive practices

Booking.com will appeal the "unprecedented" decision, arguing it offers valuable programs to support accommodation partners

Optimism grows for U.K. markets as Bank of England slashes rates, boosts growth outlook

The BoE cut rates by 0.25 percent to 5.0 percent, a decision viewed as a close call

Eurozone inflation unexpectedly rises to 2.6 percent in July; will ECB cut rates?

The eurozone's service sector inflation declined to 4 percent from 4.1 percent in June

Eurozone GDP rises 0.3 percent in Q2 2024, exceeding analyst projections as Germany unexpectedly shrinks

Germany, Eurozone's biggest economy, unexpectedly contracted 0.1 percent in Q2

U.K. retail sales fall again in July despite hopes for improving market conditions: Report

U.K. retailers expect the decline in orders to continue next month at a broadly similar pace

EU agri-food trade surplus reaches $5.43 billion in April 2024, driven by higher prices and increased exports

Exports reached €19.8 billion ($21.5 billion), mainly due to increased prices of olives and olive oil

EU, Singapore conclude negotiations for landmark Digital Trade Agreement

The agreement aims to build trust, ensure predictability for businesses, and remove barriers to digital trade

New U.K. business growth jumps to 15-month high in July, says PMI

Job numbers at manufacturing firms were stable in July, ending a 21-month sequence of decline

Euro area government debt rises to 88.7 percent of GDP in Q1 2024

The highest ratio of government debt to GDP in the euro area was in Greece at 159.8 percent

Bank of England rate cut bets rise as inflation steadies at 2 percent target

The Bank of England's interest reached a 16-year high of 5.25 percent in August 2023

Euro area international trade surplus hits $15.20 billion in May 2024

In the first five months of 2024, the euro area recorded a trade surplus of 84.9 billion euros

France’s economy projected to grow 0.9 percent in 2024, 1.3 percent in 2025: IMF

Real GDP grew by 1.1 percent in 2023, supported by net exports, while consumption remained weak

U.K. GDP grows 0.4 percent in May 2024 on greater construction, service output

Service output was the largest contributor to the U.K.'s monthly GDP growth in May 2024

Eurozone unemployment rate marginally declines to 6.4 percent in May

Unemployment among young persons in the eurozone reached 14.2 percent in May

U.K. manufacturing activity grows in June, input cost inflation at 17-month high: PMI

Tight supply lines, higher import costs and freight issues also contributed to higher purchase prices