Eurozone GDP: France avoids recession as expansion rebounds – trade reside | Business

Introduction: France returns to expansion on eurozone GDP day

Good morning, and welcome to our rolling protection of commercial, the arena financial system and the monetary markets.

Today we find how the eurozone financial system fared within the first complete quarter for the reason that Ukraine conflict drove up calories costs and disrupted provide chains, slowing international expansion.

And the breaking information is that France has have shyed away from recession, via returning to expansion in April-June as more potent exports helped offset vulnerable home call for.

French GDP rose via 0.5% in Q2, figures simply launched display, having reduced in size via 0.2% in January-March as emerging inflation hit the eurozone’s second-largest financial system.

That’s more potent than anticipated, and manner France has have shyed away from two quarters of falling expansion in a row.

The Gross Domestic Product (GDP) in France expanded 0.50 % in the second one quarter of 2022 over the former quarter. https://t.co/YZQGQp1rmQ percent.twitter.com/39Yuc9FjDt

— Trading Economics (@tEconomics) July 29, 2022

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France’s statistics frame INSEE says “GDP in volume terms strongly recovered after the decline in the previous quarter”.

Foreign industry lifted expansion, with exports emerging 0.8% and imports falling via 0.6%.

But family intake expenditure fell once more, as French shoppers had been squeezed via emerging costs.

GDP rebounded in Q2 2022 (+0.5%)https://t.co/ne4lYm0dj1

— INSEE (@InseeFr_News) July 29, 2022

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We additionally get expansion figures from around the eurozone in the course of the morning, that are prone to display a typically vulnerable quarter of monetary process, and persevered prime inflation.

Michael Hewson of CMC Markets says:

On the vast EU foundation Q2 GDP is anticipated to gradual to 0.2% from 0.6% in Q1. In Germany we can be fortunate to look any growth in any respect and given the present geopolitical and financial backdrop this might be as excellent because it will get for some time.

We additionally get a handy guide a rough snapshot of flash CPI inflation for July after the numbers from Germany jumped larger to eight.5% in numbers launched the previous day.

And with the USA financial system shrinking for 2 quarters in a row, the outlook for the arena financial system within the months forward seems to be unsure.

Also arising as of late

UK financial institution NatWest is reporting effects, whilst team of workers at telecoms crew BT are retaining their first nationwide strike in a long time.

Energy teams Shell and Centrica are dealing with heavy complaint after reporting a surge in income, and hefty payouts to shareholders the previous day:

Overnight, tech giants Apple and Amazon have overwhelmed Wall Street expectancies.

  • Amazon reported its moment quarterly loss in a row on Thursday however the corporate’s additionally beat earnings expectancies and gave an upbeat forecast for the rest of the yr; stocks jumped over 10% in after-hours buying and selling
  • Apple reported higher-than-expected benefit and gross sales as call for for iPhones held company, regardless of the slowing US financial system and emerging inflation

The schedule

  • 6.30am BST: French GDP record for Q2
  • 8am BST: Spanish GDP record for Q2
  • 8am BST: Austria GDP record for Q2
  • 9am BST: German GDP record for Q2
  • 9am BST: Italian GDP record for Q2
  • 9,30am BST: UK loan approvals and client credit score record
  • 10am BST: Eurozone GDP record for Q2
  • 10am BST: Eurozone inflation record for July
  • 1.30pm BST: US non-public source of revenue and spending record

Next up… Spain.

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And the Spanish economy has expanded by a faster-than-expected 1.1% in the second quarter of the year.

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That’s up from 0.2% in the previous three months, and much faster than the 0.4% which economists expected.

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Cities in Germany are switching off spotlights on public monuments, turning off fountains, and imposing cold showers on municipal swimming pools and sports halls, as the country races to reduce its energy consumption in the face of a looming Russian gas crisis.

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Hanover in north-west Germany on Wednesday became the first large city to announce energy-saving measures, including turning off hot water in the showers and bathrooms of city-run buildings and leisure centres.

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Municipal buildings in the Lower Saxony state capital will only be heated from 1 October to 31 March, at no more than 20C (68F) room temperature, and ban the use of mobile air conditioning units and fan heaters. Nurseries, schools, care homes and hospitals are to be exempt from the saving measures.

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Here’s the full story:

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Fashion retailers ASOS and Boohoo, and UK supermarket group Asda, are being investigated over their fashion ‘green’ claims.

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The Competition and Markets Authority will scrutinise their eco-friendly and sustainability claims, concerned that products are being wrongly marketed to customers as eco-friendly.

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The investigation will include whether:

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  • the statements and language used by the businesses are too broad and vague, and may create the impression that clothing collections – such as the ‘Responsible edit’ from ASOS, Boohoo’s current ‘Ready for the Future’ range, and ‘George for Good’ – are more environmentally sustainable than they actually are
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  • the criteria used by some of these businesses to decide which products to include in these collections may be lower than customers might reasonably expect from their descriptions and overall presentation – for example, some products may contain as little as 20% recycled fabric
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  • some items have been included in these collections when they do not meet the criteria
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Worryingly for France, Paris could be the first European city to suffer a blackout as temperatures drop toward the end of the year, rather than Berlin.

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So warns Bloomberg’s energy expert Javier Blas, who explains that France’s nuclear industry is struggling badly.

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As winter approaches, the outlook in France is increasingly dire. Electricite de France SA, the state-owned utility, is running only 26 of its 57 reactors, with more than half of its chain undergoing emergency maintenance after the discovery of cracked pipes. With atomic reactors generating the lowest share of the country’s power in 30 years, France faces an electricity ‘Waterloo.’

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The slump in nuclear availability is forcing France to rely more than ever on gas-fired plants, intermittent wind and hydro as well as imports. That’s pushing up the cost of electricity in the wholesale market for the whole of Europe, with French forward prices surging to almost 1,000% more than their decade-long average through 2020.

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In the middle of the summer, when French electricity demand hovers around 45 gigawatts per hour, that’s not an insurmountable problem. But on a cold winter evening, when French households can push consumption above 80 or 90 gigawatts, it could be catastrophically expensive.

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More here.

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Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.

“,”elementId”:”a622a85e-73a9-48c9-85ab-f288e9cad5ff”},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”

Today we discover how the eurozone economy fared in the first full quarter since the Ukraine war drove up energy prices and disrupted supply chains, slowing global growth.

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And the breaking news is that France has avoided recession, by returning to growth in April-June as stronger exports helped offset weak domestic demand.

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French GDP rose by 0.5% in Q2, figures just released show, having shrunk by 0.2% in January-March as rising inflation hit the eurozone’s second-largest economy.

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That’s stronger than expected, and means France has avoided two quarters of falling growth in a row.

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France’s statistics body INSEE says “GDP in volume terms strongly recovered after the decline in the previous quarter”.

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Foreign trade lifted growth, with exports rising 0.8% and imports falling by 0.6%.

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But household consumption expenditure fell again, as French consumers were squeezed by rising prices.

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We also get growth figures from across the eurozone through the morning, which are likely to show a generally weak quarter of economic activity, and continued high inflation.

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Michael Hewson of CMC Markets says:

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On the broad EU basis Q2 GDP is expected to slow to 0.2% from 0.6% in Q1. In Germany we will be lucky to see any expansion at all and given the current geopolitical and economic backdrop this could be as good as it gets for a while.

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We also get a quick snapshot of flash CPI inflation for July after the numbers from Germany jumped higher to 8.5% in numbers released yesterday.

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And with the US economy shrinking for two quarters in a row, the outlook for the world economy in the months ahead looks uncertain.

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Also coming up today

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UK bank NatWest is reporting results, while staff at telecoms group BT are holding their first national strike in decades.

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Energy groups Shell and Centrica are facing heavy criticism after reporting a surge in profits, and hefty payouts to shareholders yesterday:

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Overnight, tech giants Apple and Amazon have beaten Wall Street expectations.

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  • Amazon reported its second quarterly loss in a row on Thursday but the company’s also beat revenue expectations and gave an upbeat forecast for the remainder of the year; shares jumped over 10% in after-hours trading
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  • Apple reported higher-than-expected profit and sales as demand for iPhones held firm, despite the slowing US economy and rising inflation
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The agenda

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  • 6.30am BST: French GDP report for Q2
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  • 8am BST: Spanish GDP report for Q2
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  • 8am BST: Austria GDP report for Q2
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  • 9am BST: German GDP report for Q2
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  • 9am BST: Italian GDP report for Q2
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  • 9,30am BST: UK mortgage approvals and consumer credit report
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  • 10am BST: Eurozone GDP report for Q2
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  • 10am BST: Eurozone inflation report for July
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  • 1.30pm BST: US personal income and spending report
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Key parties

Next up… Spain.

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And the Spanish economy has expanded by a faster-than-expected 1.1% in the second quarter of the year.

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That’s up from 0.2% in the previous three months, and much faster than the 0.4% which economists expected.

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Cities in Germany are switching off spotlights on public monuments, turning off fountains, and imposing cold showers on municipal swimming pools and sports halls, as the country races to reduce its energy consumption in the face of a looming Russian gas crisis.

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Hanover in north-west Germany on Wednesday became the first large city to announce energy-saving measures, including turning off hot water in the showers and bathrooms of city-run buildings and leisure centres.

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Municipal buildings in the Lower Saxony state capital will only be heated from 1 October to 31 March, at no more than 20C (68F) room temperature, and ban the use of mobile air conditioning units and fan heaters. Nurseries, schools, care homes and hospitals are to be exempt from the saving measures.

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Here’s the full story:

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Fashion retailers ASOS and Boohoo, and UK supermarket group Asda, are being investigated over their fashion ‘green’ claims.

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The Competition and Markets Authority will scrutinise their eco-friendly and sustainability claims, concerned that products are being wrongly marketed to customers as eco-friendly.

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The investigation will include whether:

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  • the statements and language used by the businesses are too broad and vague, and may create the impression that clothing collections – such as the ‘Responsible edit’ from ASOS, Boohoo’s current ‘Ready for the Future’ range, and ‘George for Good’ – are more environmentally sustainable than they actually are
  • n

  • the criteria used by some of these businesses to decide which products to include in these collections may be lower than customers might reasonably expect from their descriptions and overall presentation – for example, some products may contain as little as 20% recycled fabric
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  • some items have been included in these collections when they do not meet the criteria
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Worryingly for France, Paris could be the first European city to suffer a blackout as temperatures drop toward the end of the year, rather than Berlin.

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So warns Bloomberg’s energy expert Javier Blas, who explains that France’s nuclear industry is struggling badly.

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As winter approaches, the outlook in France is increasingly dire. Electricite de France SA, the state-owned utility, is running only 26 of its 57 reactors, with more than half of its chain undergoing emergency maintenance after the discovery of cracked pipes. With atomic reactors generating the lowest share of the country’s power in 30 years, France faces an electricity ‘Waterloo.’

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The slump in nuclear availability is forcing France to rely more than ever on gas-fired plants, intermittent wind and hydro as well as imports. That’s pushing up the cost of electricity in the wholesale market for the whole of Europe, with French forward prices surging to almost 1,000% more than their decade-long average through 2020.

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In the middle of the summer, when French electricity demand hovers around 45 gigawatts per hour, that’s not an insurmountable problem. But on a cold winter evening, when French households can push consumption above 80 or 90 gigawatts, it could be catastrophically expensive.

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More here.

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Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.

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Today we discover how the eurozone economy fared in the first full quarter since the Ukraine war drove up energy prices and disrupted supply chains, slowing global growth.

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And the breaking news is that France has avoided recession, by returning to growth in April-June as stronger exports helped offset weak domestic demand.

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French GDP rose by 0.5% in Q2, figures just released show, having shrunk by 0.2% in January-March as rising inflation hit the eurozone’s second-largest economy.

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That’s stronger than expected, and means France has avoided two quarters of falling growth in a row.

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France’s statistics body INSEE says “GDP in volume terms strongly recovered after the decline in the previous quarter”.

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Foreign trade lifted growth, with exports rising 0.8% and imports falling by 0.6%.

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But household consumption expenditure fell again, as French consumers were squeezed by rising prices.

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We also get growth figures from across the eurozone through the morning, which are likely to show a generally weak quarter of economic activity, and continued high inflation.

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Michael Hewson of CMC Markets says:

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On the broad EU basis Q2 GDP is expected to slow to 0.2% from 0.6% in Q1. In Germany we will be lucky to see any expansion at all and given the current geopolitical and economic backdrop this could be as good as it gets for a while.

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We also get a quick snapshot of flash CPI inflation for July after the numbers from Germany jumped higher to 8.5% in numbers released yesterday.

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And with the US economy shrinking for two quarters in a row, the outlook for the world economy in the months ahead looks uncertain.

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Also coming up today

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UK bank NatWest is reporting results, while staff at telecoms group BT are holding their first national strike in decades.

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Energy groups Shell and Centrica are facing heavy criticism after reporting a surge in profits, and hefty payouts to shareholders yesterday:

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Overnight, tech giants Apple and Amazon have beaten Wall Street expectations.

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  • Amazon reported its second quarterly loss in a row on Thursday but the company’s also beat revenue expectations and gave an upbeat forecast for the remainder of the year; shares jumped over 10% in after-hours trading
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  • Apple reported higher-than-expected profit and sales as demand for iPhones held firm, despite the slowing US economy and rising inflation
  • n

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The agenda

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  • 6.30am BST: French GDP report for Q2
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  • 8am BST: Spanish GDP report for Q2
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  • 8am BST: Austria GDP report for Q2
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  • 9am BST: German GDP report for Q2
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  • 9am BST: Italian GDP report for Q2
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  • 9,30am BST: UK mortgage approvals and consumer credit report
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  • 10am BST: Eurozone GDP report for Q2
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  • 10am BST: Eurozone inflation report for July
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  • 1.30pm BST: US personal income and spending report
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Filters BETA

Spain beats forecasts with 1.1% expansion

Next up… Spain.

And the Spanish financial system has expanded via a faster-than-expected 1.1% in the second one quarter of the yr.

That’s up from 0.2% within the earlier 3 months, and far quicker than the 0.4% which economists anticipated.

SPANISH ESTIMATED GDP QOQ ACTUAL 1.1% (FORECAST 0.4%, PREVIOUS 0.2%) $MACRO

— Breaking Market News ⚡️ (@financialjuice) July 29, 2022

n”,”url”:”https://twitter.com/financialjuice/standing/1552911854174982144″,”identification”:”1552911854174982144″,”hasMedia”:false,”position”:”inline”,”isThirdPartyTracking”:false,”supply”:”Twitter”,”elementId”:”a5a92678-a437-4f7c-ae70-4b8317f1be60″}}”>

SPANISH ESTIMATED GDP QOQ ACTUAL 1.1% (FORECAST 0.4%, PREVIOUS 0.2%) $MACRO

— Breaking Market News ⚡️ (@financialjuice) July 29, 2022

Claus Vistesen, macroeconomist for Pantheon Macroeconomics, says France’s expansion in Q2 used to be “solid”, however cautions that the spice up from web industry and inventory-building may unwind later this yr.

Solid French GDP expansion in Q2, nevertheless it used to be all inventories and web industry. Significant scope for mean-reversion in each in H2, and I doubt that family spending will rebound a lot. The sure pattern in products and services capex stays an actual stable level.

— Claus Vistesen (@ClausVistesen) July 29, 2022

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Solid French GDP expansion in Q2, nevertheless it used to be all inventories and web industry. Significant scope for mean-reversion in each in H2, and I doubt that family spending will rebound a lot. The sure pattern in products and services capex stays an actual stable level.

— Claus Vistesen (@ClausVistesen) July 29, 2022

Tourism sticks out as any other stable level, each in relation to offsetting weak point in home intake and naturally, by the use of web exports. Bodes smartly for the Spanish headline later.

— Claus Vistesen (@ClausVistesen) July 29, 2022

n”,”url”:”https://twitter.com/ClausVistesen/standing/1552896190475370497″,”identification”:”1552896190475370497″,”hasMedia”:false,”position”:”inline”,”isThirdPartyTracking”:false,”supply”:”Twitter”,”elementId”:”2a5eddb7-28af-4eb8-ac71-4b31ec87ed06″}}”>

Tourism sticks out as any other stable level, each in relation to offsetting weak point in home intake and naturally, by the use of web exports. Bodes smartly for the Spanish headline later.

— Claus Vistesen (@ClausVistesen) July 29, 2022

German towns impose chilly showers and switch off lighting amid Russian gasoline disaster

Philip Oltermann

Cities in Germany are switching off spotlights on public monuments, turning off fountains, and enforcing chilly showers on municipal swimming swimming pools and sports activities halls, as the rustic races to cut back its calories intake within the face of a looming Russian gasoline disaster.

Hanover in north-west Germany on Wednesday become the primary huge metropolis to announce energy-saving measures, together with turning off sizzling water within the showers and lavatories of city-run structures and recreational centres.

Municipal structures within the Lower Saxony state capital will handiest be heated from 1 October to 31 March, at not more than 20C (68F) room temperature, and ban the usage of cellular air con devices and fan warmers. Nurseries, faculties, care properties and hospitals are to be exempt from the saving measures.

Here’s the overall tale:

ASOS, Boohoo and Asda probed over inexperienced model claims

Fashion outlets ASOS and Boohoo, and UK grocery store crew Asda, are being investigated over their model ‘green’ claims.

The Competition and Markets Authority will scrutinise their eco-friendly and sustainability claims, involved that merchandise are being wrongly advertised to consumers as eco-friendly.

The investigation will come with whether or not:

  • the statements and language utilized by the companies are too vast and obscure, and would possibly create the impact that clothes collections – such because the ‘Responsible edit’ from ASOS, Boohoo’s present ‘Ready for the Future’ vary, and ‘George for Good’ – are extra environmentally sustainable than they in reality are
  • the factors utilized by a few of these companies to make a decision which merchandise to incorporate in those collections could also be not up to consumers would possibly quite be expecting from their descriptions and general presentation – as an example, some merchandise would possibly comprise as low as 20% recycled material
  • some pieces were integrated in those collections when they don’t meet the factors

We wish to know if @ASOS, @boohoo and @Georgeatasda’s merchandise are as eco-friendly as they are saying they’re.

That’s why we’ve introduced an investigation to look if their #greenclaims are deceptive consumers.

Find out extra: https://t.co/QfdXHKLIML#GreenClaimsCode percent.twitter.com/EjfTodmuLX

— Competition & Markets Authority (@CMAgovUK) July 29, 2022

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🇫🇷 #FRANCE GDP GREW 0.5% IN 2Q Q/Q; EST. +0.2%
*Link: https://t.co/ZPpGhwAh4F percent.twitter.com/8M4jim0VbY

— Christophe Barraud🛢🐳 (@C_Barraud) July 29, 2022

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British Airways’ proprietor, International Consolidated Airlines Group, has returned to benefit for the primary time for the reason that get started of the coronavirus pandemic.

IAG made a pre-tax benefit of €73m in the second one quarter of the yr, up from a lack of €1.12bn in Q2 2021 when pandemic trip restrictions had been in drive.

Passenger revenues jumped to nearly €5bn in April-June, up from €682m a yr in the past, regardless of the trip chaos at UK airports this summer time that led IAG to cancel 1000’s of flights.

IAG additionally made an working benefit all over the quarter, of €293m after an working lack of €967m a yr in the past.

IAG leader govt Luis Gallego stated:

“In the second one quarter we returned to benefit for the primary time for the reason that get started of the pandemic following a powerful restoration in call for throughout all our airways.

“This end result helps our outlook for a full-year working benefit.

“Our efficiency mirrored an important building up in capability, load issue and yield in comparison to the primary quarter.

“Premium leisure remains strong, while business travel continues a steady recovery in all airlines.”

Bloomberg: France faces an electrical energy ‘Waterloo’ this winter

Worryingly for France, Paris could be the first European city to suffer a blackout as temperatures drop toward the end of the year, rather than Berlin.

So warns Bloomberg’s calories knowledgeable Javier Blas, who explains that France’s nuclear business is suffering badly.

As iciness approaches, the outlook in France is increasingly more dire. Electricite de France SA, the state-owned application, is operating handiest 26 of its 57 reactors, with greater than part of its chain present process emergency upkeep after the invention of cracked pipes. With atomic reactors producing the bottom proportion of the rustic’s energy in 30 years, France faces an electrical energy ‘Waterloo.’

The hunch in nuclear availability is forcing France to depend greater than ever on gas-fired crops, intermittent wind and hydro in addition to imports. That’s pushing up the price of electrical energy within the wholesale marketplace for the entire of Europe, with French ahead costs surging to nearly 1,000% greater than their decade-long moderate thru 2020.

In the center of the summer time, when French electrical energy call for hovers round 45 gigawatts in line with hour, that’s no longer an insurmountable downside. But on a chilly iciness night time, when French families can push intake above 80 or 90 gigawatts, it might be catastrophically pricey.

More right here.

The international is that specialize in Germany all over the European calories disaster. But France is much more at risk of blackouts this iciness, argues @JavierBlas https://t.co/Y3mOTzTuob by the use of @opinion

— Bloomberg (@trade) July 29, 2022

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The reopening of French hospitality companies after final iciness’s wave of Covid-19 additionally lifted expansion, issues out Gilles Moëc, AXA Group leader economist.

But he additionally flags that client spending remained vulnerable, as cost-of-living pressures hit families.

French GDP boosted via tourism in Q2. Post-reopening process in inns/delivery contributed vastly to the upper than anticipated 0.5% print (that’s 2% for individuals who learn their GDP the USA means 😀). Personal intake down once more although 1/3

— gilles Moec (@MoecGilles) July 29, 2022

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French GDP boosted via tourism in Q2. Post-reopening process in inns/delivery contributed vastly to the upper than anticipated 0.5% print (that’s 2% for individuals who learn their GDP the USA means 😀). Personal intake down once more although 1/3

— gilles Moec (@MoecGilles) July 29, 2022

That could also be a trend for the remainder of Europe: nations with stable tourism business/heavy on non-public products and services may do smartly, possibly tougher for Northern European nations 2/3

— gilles Moec (@MoecGilles) July 29, 2022

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That could also be a trend for the remainder of Europe: nations with stable tourism business/heavy on non-public products and services may do smartly, possibly tougher for Northern European nations 2/3

— gilles Moec (@MoecGilles) July 29, 2022

The truth that private intake is down once more regardless of beneficiant fiscal reinforce is telling although. Stimulus has a difficult time offsetting precise erosion in actual source of revenue and/or lack of client self assurance in a difficult surroundings. 3/3

— gilles Moec (@MoecGilles) July 29, 2022

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The truth that private intake is down once more regardless of beneficiant fiscal reinforce is telling although. Stimulus has a difficult time offsetting precise erosion in actual source of revenue and/or lack of client self assurance in a difficult surroundings. 3/3

— gilles Moec (@MoecGilles) July 29, 2022

France’s strong-than-expected go back to expansion places it on a less assailable footing as surging inflation and the danger of a Russian calories cuttoff threaten to tip Europe right into a recession.

So says Bloomberg:

After a wonder contraction originally of 2022, gross home product rose via 0.5% within the 3 months thru June, greater than the 0.2% median estimate in a Bloomberg survey of analysts.

But industry accounted for lots of the wonder, with client spending falling for a moment immediately quarter.

French financial system grows greater than expected, increasing 0.5% (most commonly on industry) https://t.co/dtGX47dyfl by the use of @whorobin percent.twitter.com/MLLFn2syFi

— Zoe Schneeweiss (@ZSchneeweiss) July 29, 2022

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Although France has have shyed away from recession as of late, economist Charlotte de Montpellier of ING fears its financial system will likely be in a downturn this iciness (when Europe may face calories shortages).

France escapes recession for the instant (Q2 GDP +0.5% qoq after -0.2%), due to tourism! But home call for stays vulnerable and intake continues to fall. A recession is our base case for this iciness. https://t.co/f5vozJijkC

— Charlotte de Montpellier (@CdeMontpellier) July 29, 2022

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France escapes recession for the instant (Q2 GDP +0.5% qoq after -0.2%), due to tourism! But home call for stays vulnerable and intake continues to fall. A recession is our base case for this iciness. https://t.co/f5vozJijkC

— Charlotte de Montpellier (@CdeMontpellier) July 29, 2022

Tourism helped France to go back to expansion in April-June too.

Spending via overseas travellers in France rose via 8.6% within the final quarter, after +5.0% in Q1.

Introduction: France returns to expansion on eurozone GDP day

Good morning, and welcome to our rolling protection of commercial, the arena financial system and the monetary markets.

Today we find how the eurozone financial system fared within the first complete quarter for the reason that Ukraine conflict drove up calories costs and disrupted provide chains, slowing international expansion.

And the breaking information is that France has have shyed away from recession, via returning to expansion in April-June as more potent exports helped offset vulnerable home call for.

French GDP rose via 0.5% in Q2, figures simply launched display, having reduced in size via 0.2% in January-March as emerging inflation hit the eurozone’s second-largest financial system.

That’s more potent than anticipated, and manner France has have shyed away from two quarters of falling expansion in a row.

The Gross Domestic Product (GDP) in France expanded 0.50 % in the second one quarter of 2022 over the former quarter. https://t.co/YZQGQp1rmQ percent.twitter.com/39Yuc9FjDt

— Trading Economics (@tEconomics) July 29, 2022

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France’s statistics frame INSEE says “GDP in volume terms strongly recovered after the decline in the previous quarter”.

Foreign industry lifted expansion, with exports emerging 0.8% and imports falling via 0.6%.

But family intake expenditure fell once more, as French shoppers had been squeezed via emerging costs.

GDP rebounded in Q2 2022 (+0.5%)https://t.co/ne4lYm0dj1

— INSEE (@InseeFr_News) July 29, 2022

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We additionally get expansion figures from around the eurozone in the course of the morning, that are prone to display a typically vulnerable quarter of monetary process, and persevered prime inflation.

Michael Hewson of CMC Markets says:

On the vast EU foundation Q2 GDP is anticipated to gradual to 0.2% from 0.6% in Q1. In Germany we can be fortunate to look any growth in any respect and given the present geopolitical and financial backdrop this might be as excellent because it will get for some time.

We additionally get a handy guide a rough snapshot of flash CPI inflation for July after the numbers from Germany jumped larger to eight.5% in numbers launched the previous day.

And with the USA financial system shrinking for 2 quarters in a row, the outlook for the arena financial system within the months forward seems to be unsure.

Also arising as of late

UK financial institution NatWest is reporting effects, whilst team of workers at telecoms crew BT are retaining their first nationwide strike in a long time.

Energy teams Shell and Centrica are dealing with heavy complaint after reporting a surge in income, and hefty payouts to shareholders the previous day:

Overnight, tech giants Apple and Amazon have overwhelmed Wall Street expectancies.

  • Amazon reported its moment quarterly loss in a row on Thursday however the corporate’s additionally beat earnings expectancies and gave an upbeat forecast for the rest of the yr; stocks jumped over 10% in after-hours buying and selling
  • Apple reported higher-than-expected benefit and gross sales as call for for iPhones held company, regardless of the slowing US financial system and emerging inflation

The schedule

  • 6.30am BST: French GDP record for Q2
  • 8am BST: Spanish GDP record for Q2
  • 8am BST: Austria GDP record for Q2
  • 9am BST: German GDP record for Q2
  • 9am BST: Italian GDP record for Q2
  • 9,30am BST: UK loan approvals and client credit score record
  • 10am BST: Eurozone GDP record for Q2
  • 10am BST: Eurozone inflation record for July
  • 1.30pm BST: US non-public source of revenue and spending record

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