IHS Markit

US new home sales rise to 10-year high

Washington - Muslimchronicle

US sales of new single-family homes quickened for the second straight month in October, rising to the highest level since the housing bubble, according to data released Monday. The increase points to a recovery in sales after what had been a sluggish year amid tightening supply and rising prices. But the monthly gain was boosted by the storm-damaged southern US,Read more

Eurozone economy hits 'speed bump' in July: survey

Brussels - AFP

Eurozone private sector business activity slowed in July for the second month running but was still running near six-year highs, a closely watched survey showed Monday. Analysts said that while the slip in the headline readings of the survey by data monitoring company IHS Markit was disappointing, the economy remained on its best run since the eurozone debt crisis. IHSRead more

Global carmakers converge on China

Shanghai - Arab Today

Global carmakers converge on China for the Shanghai auto show this week, with the industry bracing for a sharp sales slowdown and potential price war as competition stiffens in the world’s biggest car market. Manufacturers have reaped a windfall as the fast-expanding Chinese middle class hits the road, but clouds loom as Volkswagen, Toyota, GM, and other top nameplates pitchRead more

China's Q1 growth stabilises at 6.8%

Beijing - AFP

China's growth stabilised in the first quarter thanks to rising investments and a recovery in exports, experts said, though they warned the reprieve may be temporary. According to an AFP survey of 16 economic analysts, the gross domestic product expanded 6.8 percent in the first three months of this year -- the same level of growth as in the lastRead more

Euro zone economy strongest in nearly 6 years

London - Arab Today

Euro zone businesses enjoyed their best quarter in six years at the start of 2017 and although growth was not quite as fast as a flash estimate, the upturn was broad-based, a survey suggested on Wednesday. Soaring demand allowed firms to raise prices at the fastest rate since mid-2011. Survey compiler IHS Markit said the data pointed to the first-quarterRead more

Euro zone growth ‘surges’ to 6-year high

Brussels - Arab Today

The euro zone economy grew at its fastest pace in six years in March, as all signs pointed to a recovery “surging higher” led by France and Germany, a closely watched survey showed Friday. Data monitoring company IHS Markit also said job creation in the 19-country euro zone recorded its best level for almost a decade. It said its MarchRead more

British unemployment hits 41-year low

London - AFP

Britain's unemployment rate has struck the lowest level for more than 41 years, official data showed on Wednesday as the country prepares to trigger its exit from the EU. However a drop in the jobless rate comes alongside news of slowing wages growth. Unemployment for the quarter ending January 31 fell to 4.7 percent from a rate of 4.8 percentRead more

Dubai’s private sector growth on track for strong first quarter

DUBAI - Arab Today

The Emirates NBD Dubai Economy Tracker Index (DET) February data signalled a further improvement in overall business conditions across Dubai’s private sector economy, supported by sharp rises in output and incoming new work. The latest index reading at 56.2 was slightly down from January’s 23-month high of 57.1, but was above the series average of 55.1, signalling an acceleration inRead more

Oil prices to hit $40 If Opec fails to expand cuts

Houston - Arab Today

Oil prices will tumble to $40 a barrel if Opec doesn’t extend its pact later this year to cut output, according to one of the most prominent producers in the shale patch. US shale drillers are keeping an eye on the second half of the year to see if Opec and non-Opec members extend their agreement, which lasts through June,Read more

UAE private sector activity hits highest since September 2015

Dubai - Arab Today

Non-oil private sector activity in the UAE picked up last month as new orders rose and prices increased for the first time in more than a year, according to the latest survey of economic sentiment in the country. The Purchasing Managers’ Index survey, sponsored by Emirates NBD and produced by IHS Markit, for February hit a 17-month high of 56,Read more