“Dutch factories haven’t escaped the global slowdown… Factory output in Italy has fallen at the fastest rate since 2013, as new orders continue to shrink…. Not good for Italy’s hopes of escaping recession soon… Ouch! Spain’s manufacturing sector has suffered its first contraction in five years…
“The slowdown in China appears to be a key factor…
“Poland’s factories had a very rough February, with growth shrinking at the fastest rate since the financial crisis… Russia’s factory sector came close to contracting last month…
Japan’s factories suffer biggest slowdown since 2016…”
“In many cases, business conditions were the worst Asian companies have faced since 2016, with demand weakening not only in China but globally.
“Japan’s factory gauge fell at the sharpest pace in 2-1/2 years as slumping orders prompted plants to cut production, while separate data from South Korea showed its exports plummeted.”
“The statement from Fitch says that they find China’s domestic demand slowdown as the main reason impacting trade flows in Asia rather than the direct impact of tariffs between US and China.
“Fitch adds that Germany in particular has been hit hard by declining auto sales in China as a result of the slump in demand.”
“India’s economy slowed further in the latest quarter, official data showed on Thursday, as the world’s largest democracy prepares for a national election and border clashes with rival Pakistan…
“The numbers boded poorly for Prime Minister Narendra Modi, who steamrolled to power in 2014 promising to create millions of jobs and spur economic growth, but must call a general election, due in April and May.”
“Turkey’s foreign trade deficit shrank by an annual 72.5 percent to $2.5 billion in January, indicating that the country’s economic downturn is set to continue…
“Turkish economic activity has slowed markedly since a currency crisis peaked in August, paring demand for imports. The economy contracted a quarterly 1.1 percent in the third quarter of 2018 despite government tax cuts and other incentives.”
“The administration of Mauricio Macri is facing yet another economic crisis. During 2018, the economy fell by 2.6% and the private sector lost 191,300 jobs.
“This situation confirms what is readily perceived on Argentine streets: shops that close their doors, companies that are merging or leaving the country, and a loss of jobs. The economic situation of those who can continue to operate and those who maintain employment is not good. Profit margins are shrinking…”
“Things are bad in Algeria, and they will likely get far worse. “[…] crunch point is approaching fast,” states a recent report from London-based financial analysis firm Capital Economics.
“The problems stem from a multitude of factors including a weak oil price and rotten economic policies, which are both exacerbated by recent mass protests… In other words, Algeria is heading for something close to an economic Armageddon.”
“The worst economic crisis in modern Latin American history has gotten “even worse” than expected as new U.S. sanctions exacerbate pain on Venezuela, according to the International Monetary Fund.
There’s more downside risk in the region after the Trump administration slapped a de facto oil ban on Venezuela and tightened restrictions on state oil giant PDVSA, said the IMF’s Western Hemisphere Director Alejandro Werner.”
“Last year was one of the best for the economy since the financial crisis, partly thanks to a big boost from the GOP tax cuts and a bump in government spending on military and domestic programs…
Growth at the start of this year could fall sharply to around 1 percent, many economists predict, as uncertainty around trade, weak growth abroad and the fallout from the partial government shutdown drag momentum down.”
“A No Deal Brexit would cause ‘considerable’ economic harm to the rest of Europe, Dutch MPs warned yesterday. The delegation, which visited Westminster last week on a fact-finding mission, said No Deal would worsen already weak growth across the eurozone.
“It could even trigger a banking crisis in Italy, they suggested, given the country’s vulnerability to economic shocks due to high public debt. ‘This could rebound on the eurozone,’ the Dutch said.”
“Australian home prices fell a further 0.7 per cent last month and are now down nearly 7 per cent from their peak, as the downturn extends beyond Sydney and Melbourne…
“Sydney and Melbourne have still suffered the worst fall over the past year, down 10.4 and 9.1 per cent respectively.”