Euro zone: Unemployment rate drops to 6.2 percent
Luxembourg – The unemployment rate in the euro zone has dropped slightly in July. The Statistical Office Eurostat said it by 0.1 percentage points to 6.2 percent on Monday in Luxembourg. The quota has never been below this level. However, the previous month value was revised from 6.2 percent to 6.3 percent.
Roundup 2: Putin and XI are calling for new world order at the summit in China
Tianjin – Russia’s President Vladimir Putin And China’s head of state XI Jinping took part at the Shanghaier Organization for Cooperation (SOZ) for a world order without dominance from the USA and Europe. The Eurocentric and Euro-Atlantic model survived, Putin told the heads of state and government present in Tianjin in Chinese. XI called for a mentality of the Cold War to reject block confrontations and harassment. It is also necessary to see the Shanghaier organization, which sees itself as a political counterweight to western alliances such as NATO and the EU.
Banks give a fifth more loans for residential properties
Frankfurt/Berlin – Consumers and investors are increasingly asking for real estate loans about long doldries. In the first half of the year, banks awarded new financing of a good 70 billion euros – 17 percent more than a year earlier, said the Association of German Pfandbrief Banks (VDP). The plus was particularly large for loans for residential property loans: they increased by 22 percent to 46 billion euros, according to the association, which represents the most important real estate financiers in this country.
Merz against regionalization of inheritance tax
Münster – Chancellor Friedrich Merz (CDU) currently sees no chance of realizing CSU boss Markus Söder to have each state determined by the inheritance tax rates. “At the moment I don’t see that there was a consensus between the countries,” said Merz when he was visited at the North Rhine-Westphalian state government in Münster.
Retail: Consumer mood cools down
Berlin – According to a new survey, the mood of consumers has deteriorated significantly. After the summer break, expectations for the rest of the year were subdued, reported the Germany (HDE) trade association, which represents retail. “A recovery of private consumption is not in sight”.
Roundup/Eurozone: Industrial mood signals broader relaxation
London – The mood in the industrial company of the euro zone lightened a little more in August than initially determined. The shopping manager index (PMI) from S&P Global rose by 0.9 points to 50.7 points compared to the previous month, as S&P announced in a second estimate in London on Monday. This is the highest level in 38 months. Economists had expected a confirmation of the initial estimate of 50.5 points. The mood indicator is thus above the threshold of 50 points from which it signals increasing economic activity.
Eurozone: Industrial mood brightens more than expected
London – The mood in the industrial company of the euro zone lightened a little more in August than initially determined. The shopping manager index (PMI) from S&P Global rose by 0.9 points to 50.7 points compared to the previous month, as S&P announced in a second estimate in London on Monday. This is the highest level in 38 months. Economists had expected a confirmation of the initial estimate of 50.5 points. The mood indicator is thus above the threshold of 50 points from which it signals increasing economic activity.
Merz for affordable welfare state
Berlin – Chancellor Friedrich Merz (CDU) wants to make the welfare state sustainable and affordable with a newly launched welfare state commission and other steps. It should be noted that “we have to afford the welfare state,” said deputy government spokesman Sebastian Hille. In Berlin for the first time the Social Saturator Commission came together, which should make suggestions for reforms in citizenship, housing benefit and child surcharge by the end of the year. The government wants to take “decisive steps” with several course for social and pension, said the government spokesman.
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Roundup: You read a summary in the economic overview. There are several reports on this topic on the dpa-AFX intelligence service.
/JSL