From Yesterday to Today – October 15 – Public debt – A new problem
Public debt would be at its highest in 2021, higher than at the end of World War II. Growth will not make it possible to reduce the ratio of public…
Philippe Waechter's blog
18 points for the post-vacation period
The world economy has staged a rebound since April’s lockdown, yet the recovery is not complete, and spending in the services industry is lagging very far behind with uncertainties on…
The health risk reappears in the USA – A new lockdown is looming.
The acceleration in the number of Covid-19 patients in the USA is worrying. It diverges from the observation made in Europe and should cause a further upward adjustment of American…
The Brexit risk on markets
How to read the end of the risk associated with the Brexit of March 29th? Look at the 10-year Bund rate. It dropped into negative territory with the risk of…
The Euro zone slows sharply in March
The publication March’s Markit indices confirms the downward pressure on activity in the manufacturing sector. The leading indices published for the Euro zone, Germany and France, on March 22, have…
The shock in the manufacturing sector in Germany: IFO vs Markit
The modest rebound in the IFO index in March is sometimes interpreted as the counterpoint to the drop of the Markit index released last Friday.There is indeed an opposition in…
Industrial production shrinks in Euro zone
With the decline of -0.9% in December, the industrial production of the Euro zone fell by -5.3% over the last quarter (annualized rate). and -2.1% over one year. The slowdown…
Lower inflation rate and slower growth
The inflation for the Euro Area was at 1.4% in January after 1.6% in December.The main reason for this drop is the negative impact of the oil price. The energy…