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    1. #21
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      Re: ForexMart's Forex News

      NZ Retail Sales Recorded Slowest Growth in Q1

      The retail sales volume in New Zealand had expanded during Jan-Mar period but also recorded its slowest rate after five years, this further indicates the possible slackening of economic growth in the following years. On an annual basis, the official data showed that retail sales volume grew by 3 percent on Monday, which also imply a sharp decline versus the 5.4 percent rise in the previous quarter and the weakest growth from July-September 2012.

      Sales gained 0.1 percent only based on a quarterly growth, which is lower than the rough estimate of 1 percent increase projected by the economists. Footwear and clothing had decreased by 5.1 percent while motor vehicles are down to 1.1 percent. The figures led to speed-bumps in the economy, whereas, many developed countries in the past years envied but it begins to deal with some headwinds due to weak immigration and expansion in the housing market.

      The administration was able to secure strong economic growth because of immigration levels and stable price of dairy products at 3 percent per year despite the slight decline to 2.9 percent in 2017.

      New Zealand's new Labour-led government took control in October and pledged to settle the housing crisis in the country along with some plans to improve property investment tax and officially ban foreigners to purchase residential properties in NZ. On Thursday, the expanded government investment declared in the annual budget would likely negate the sluggish consumption expenditure, with the 3.8 percent GDP growth outlook from the Treasury forecast in 2019. In addition to it, the GDP data for the first quarter is scheduled on June 21.


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    3. #22
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      Re: ForexMart's Forex News

      German’s Strong Economic Upswing Despite Weak Growth in Q1, says Finance Ministry

      Germany’s economy had a strong growth amid weak data from the largest economy in Europe earlier in 2018, according to the finance ministry on Tuesday. Moreover, economic output expanded by 0.3 percent in Q1 after the 0.6 percent growth in the last quarter of 2017. The finance ministry also mentioned that the downturn was caused by temporary factors such as ill-health conditions and strikes that affect industrial output alongside the above-average number of public holidays during the quarter.

      In addition to it, the ministry stated that industrial orders continued to be at an extremely high level and that export activity at German companies could take advantage of the strong development of the world economy.

      Reportedly, the combination of moderate inflation, agreed raise in pensions, robust labor market and wage hikes led to the possible solid income development and continuous support in private consumption. The government of Germany believes that the economy will grow by 2.3 percent this year.


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    4. #23
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      Re: ForexMart's Forex News

      EU Bloc Negotiates with Australia and New Zealand

      The European bloc confirmed yesterday the start of free trade negotiations with Australia and New Zealand in order to establish new relations against the increasing trade tensions with the United States. The European Commission represents the 28 EU countries and negotiates about its plans and agreement towards the AU and NZ despite the warnings on opening the EU markets to generate farm products like beef and butter.

      According to forecasts from EU, its exports towards Australia and New Zealand may expand by a third in case that trade agreements were finalized. Considering the fact that its trade partnership with the US was suspended by the presidential election victory of Donald Trump, the EU shifted its focus to build allies with open markets and struck agreements with countries on the same mind.

      The bloc also deals with the result of steel and aluminum tariffs set by the US and the sanctions they would impose against Iran, which could lead to restriction of certain foreign businesses. The EU closed the deal with Japan, Mexico and Singapore and currently working with the Mercosur bloc of Argentina, Brazil, Paraguay, and Uruguay.


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