MILANO – The warnings on inflation issued by Sintra by the big central bankers fuel the concern of the markets, which are restarting down after yesterday’s session in the red. The main concern of investors remains that the moves put in place to counter the growth of prices will end up depressing the economy, approaching the risk of recession. The Stock Exchange of London drops 1.6%, Paris e Frankfurt at the start of the session two percentage points. Milano drops 1.72%
Mixed day on the Asian side. The Chinese markets were positive with the easing of anti-Covid measures while Tokyo closed down sharply at -1.54%, also penalized by a sharp drop in industrial production.
Japan, industrial production down 7.2%
The economic activities of manufacturing and services in china are recovering, registering a rebound in June thanks to the easing of anti-covid restrictions, particularly in Shanghai and its region. The services and construction index reached 54.7 points compared to 47.8 in May. After three months in negative territory, this is the first time since February that this index exceeds the 50-point threshold, the watershed between contraction and expansion. The figure of 54.7 is higher than analysts’ forecasts who expected an average of 49.7. The manufacturing pmi index is also on the rise, rising to 50.2 in June, in line with analysts’ forecasts, from 49.6 in May.
China, the pmi indices rise above 50
Economic activities in manufacturing and services in China are recovering, registering a rebound in June thanks to the easing of anti-covid restrictions, particularly in Shanghai and its region. The services and construction index reached 54.7 points compared to 47.8 in May. After three months in negative territory, this is the first time since February that this index exceeds the 50-point threshold, the watershed between contraction and expansion. The figure of 54.7 is higher than analysts’ forecasts who expected an average of 49.7. The manufacturing pmi index is also on the rise, rising to 50.2 in June, in line with analysts’ forecasts, from 49.6 in May.
Gb, GDP confirmed at + 0.8% in the first quarter
UK GDP in the first quarter of the year grew by 0.8% on a quarterly basis and by 8.7% compared to the same period of 2021. In the period January-March there was therefore a slowdown compared to the three months earlier, when quarterly growth was + 1.3%.
The final estimates confirm the preliminary ones of 12 May.