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European Central Bank council member Nout Wellink said the euro-region economy “deteriorated pretty quickly in the second quarter'' and growth “won't look that good.''
“It is not going very well, let me say that,'' Wellink, who heads the Dutch central bank, told Dutch RTL television today. The third quarter won't be great either, Wellink […]

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The Bank of England kept the main interest rate unchanged for a fourth month after inflation accelerated and the economy teetered on the brink of a recession.
The Monetary Policy Committee, led by Governor Mervyn King, left the bank rate unchanged at 5 percent today, the central bank said in London. The decision was […]

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European producer prices rose the most in at least 18 years in June on soaring energy costs, sharpening the European Central Bank's dilemma over how to balance faster inflation and slowing economic growth.
The 8 percent increase from a year ago in factory prices in the 15 nations that use the euro was the […]

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Retail sales in Germany fell more than twice what economists expected in June as evidence builds that Europe's largest economy contracted in the second quarter.
Sales, adjusted for inflation and seasonal swings, slid 1.4 percent from May, when they rose 0.5 percent, the Federal Statistics Office in Wiesbaden said today. Economists forecast a drop […]

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Morgan Stanley cut its economic growth forecast for Japan, saying weakening exports will erode profits and force manufacturers to rein in production.
Japan “could see a deepening recession in October-December and January-March as exports lose further steam,'' Takehiro Sato, Morgan Stanley's Tokyo-based chief Japan economist, wrote in a report published yesterday. “Profit drops of […]

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