Europe

EU approves $221 million subsidies to boost Germany’s offshore renewable energy infrastructure

New docking facilities on Germany's North Sea coast will handle heavy loads, including wind farm components

Germany’s manufacturing sector recession deepens further in August as new orders dip: PMI

Weak demand across supply chains led to a further decline in delivery times on inputs in August for the 22nd month in a row

Eurozone inflation hits 3-year low of 2.2 percent in August, signaling possible ECB rate cut next month

The inflation landscape is gradually improving, highlighting the progress toward the ECB's 2 percent target

59 percent of EU enterprises embrace digitalization in 2023

Finland emerged as the EU country with the highest level of enterprises reaching a very high level of digitalization at 13 percent

Sweden’s trade surplus grows to $640 million in July 2024

Non-EU trade surplus hit SEK 22.7 billion during this period

Business sentiment in Germany falls in August, economic recovery hopes down: Report

Business expectations fell to the lowest level since February as manufacturers once again reported declining order backlogs

Germany commits $3.89 billion to nature-based solutions for climate, biodiversity

This marks the largest investment ever in nature and climate protection in Germany, says minister

Eurozone inflation climbs to 2.6 percent in July, dampening ECB rate cut hope

Core inflation, excluding food and energy, held steady at 2.9 percent despite overall inflation rising

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