How to benchmark energy transition trends in 2023
In this article, we explore three key trends from the transition to a low-carbon economy as redefined by recent events.
Euro Zone Banks Tighten Credit Even as Demand for it Collapses ECB
FRANKFURT, May 2 Reuters Euro zone banks tightened access to credit even as demand for it from households and companies collapsed, European Central Bank data showed on Tuesday, in a fresh sign that higher borrowing costs are taking a toll on the economy. The ECB39;s Bank Lending Survey BLS for the first quarter and lending […]
UK Retailers Report Record Food Inflation, See Falls Ahead
UK retailers report record 15.7 rise in food prices BRC says overall shop price inflation up 8.8 in April Lower wholesale prices likely to reduce food costs BRC Almost half of Britons are buying less food ONS Butter and vegetable oil prices fall in April LONDON, May 2 Reuters Food prices in Britain rose by […]
UK Factory Activity Shrinks in Apr, Cost Pressures Ease PMI
LONDON, May 2 Reuters British factory output and new orders contracted at the start of the second quarter of 2023, but manufacturers were more optimistic and input costs rose at the weakest rate since May 2020, an industry survey showed on Tuesday. The final SP GlobalCIPS UK manufacturing Purchasing Managers39; Index PMI fell to a […]
Food Pushes Pakistan Inflation to Record 36.4 in April
KARACHI, Pakistan, May 2 Reuters Pakistan inflation rose to a record 36.4 in the year to April driven mainly by food prices, the highest rate in South Asia and up from March39;s 35.4, the statistics bureau said on Tuesday. Pakistan39;s rural areas recorded food inflation of 40.2, the bureau told Reuters. Food inflation for both […]
South Korea Inflation Hits 14Month Low, Backs View RateHike Cycle is Over
SEOUL, May 2 Reuters South Korea39;s consumer inflation eased for a third consecutive month to a 14month low in April and the central bank expects the downward trend to persist for some time, supporting the market39;s view that its policy tightening cycle is over. The consumer price index CPI stood 3.7 higher in April than […]
UK House Prices Stabilise after MiniBudget Fall Nationwide
LONDON, May 2 Reuters British house prices rose by 0.5 in April after falling for the seven previous months, mortgage lender Nationwide said, adding to signs that the property market has stabilised after last year39;s minibudget upheaval. The average house price remained 4 below its peak in August last year which was before former Prime […]
Japans Automakers have a MadeinChina Sales Crisis
TOKYO, May 2 Reuters Japan39;s automakers are facing a sales crisis in China, data shows, as a rapid shift to electric vehicles EVs has upended the world39;s largest auto market and led to a plunge in purchases of gasolinepowered cars. Total sales of Japanese auto brands in China were down 32 yearonyear in the first […]
Geberit Reports Q1 Beat Despite End of Bathroom Renovation Boom
May 2 Reuters Swiss plumbing supplies maker Geberit on Tuesday reported higher than expected operating cashflow in the first quarter, despite an 8.9 drop in revenue as a pandemicrelated boom in home renovation ended and inflation rose. The maker of piping and ceramic products for bathrooms, reported sales of 892.7 million Swiss francs 996.65 million for […]
Euro Zone Factory Downturn Deepened in April PMI
May 2 Reuters Euro zone factory activity contracted further last month, albeit not by as much as initially thought, while the cost of raw materials fell at the fastest pace in nearly three years, a survey showed on Tuesday. The HCOB final manufacturing Purchasing Managers39; Index PMI, compiled by SP Global, fell to 45.8 in […]