Madness in Spain Lingers as Ireland Chase Recovery
Sarkozy in Debate Duel With Hollande
Sarkozy could get elected if he would share power with the nationalist. I think they must have the vote rigged in France as he is acting very confident or is an incredible actor. This mornings data and the polls shows the Anglo-Zionist neocon and friend of Jacob Rothschilds and Prince Charles will be gone. The French -Zionist neoliberal Hollande is ill prepared to lead France like Mitterand. Hollande has like Sarkozy all kinds of sexual dirt the Anglo-Zionist power axis can use to bend him. The ZGR endorses Le Pen for the President of France and recommends not voting for either Hollande or Sarkozy but Sarkozy must go for his bloodshed in Libya and his false flag shooter operation run by hte Mossad and his Iran war mongering.
China Credit Markets -March Loans Decline 30pc
* Anonymous source estimates April loans at 700 bln yuan
* Extrapolation based on lending by “big four”
* Similar reports were wrong about Feb and March loans
* Analysts see lower April lending after huge surge in March (Adds detail, context, analyst views)
SHANGHAI, May 2 (Reuters) – Chinese bank lending may have dropped 30 percent in April from a month earlier as demand for credit eased, the official China Securities Journal said on Wednesday, raising concerns about a possible decline in corporate demand for credit due to a slowing economy.
The newspaper cited unidentified banking sources estimating that China’s banking system extended about 700 billion yuan ($111 billion) in new yuan loans in April.
Such anonymous estimates leaked to domestic media have sometimes proved accurate, but similar reports this year predicting February and March lending both significantly underestimated the actual total.
Analysts generally expect that new loans in April declined from the sky-high 1.01 trillion yuan figure seen in March but will still come in above 700 billion yuan.
The paper’s estimate was based on a figure of about 102 billion yuan in loans extended by the “big four” state-owned banks through April 25.
Though a large portion of monthly bank lending is typically clustered in the last few days of each month, the paper’s source estimated that total lending by the big four will not exceed 200 billion yuan….
China’s vanishing Trade Imbalance
An incredible set of lies by the NYT. Chinese Yuan is no where near fairly valued, and they use slave labor with no environmental controls. I see stuff coming out of China and no the cost and no one could
EU Unemployment at 15 Year High, EU Manufacturing Tanks
Euro-region unemployment rose to a 15- year high and manufacturing contracted for a ninth month, adding to signs the economic slump is deepening.
The jobless rate in the 17-nation euro area increased to 10.9 percent in March from 10.8 percent in February, the European Union statistics office in Luxembourg said today. That’s the highest since April 1997, according to Bloomberg News data. Separate reports showed euro-area manufacturing contracted more than initially estimated in April and unemployment in Germany, the region’s largest economy, unexpectedly increased.
Rising joblessness will keep pressure on politicians to find ways of boosting growth as austerity measures designed to stem the debt crisis push economies into recession and provoke a backlash among citizens. European Central Bank President Mario Draghi last week called on leaders to create a “growth compact” to complement an agreement on fiscal rules. The ECB will probably keep its benchmark interest rate at a record low of 1 percent tomorrow.
“The grim unemployment figures for March will likely encourage talk about a long overdue ‘growth pact’ for the euro zone,” said Martin van Vliet, an economist at ING Group in Amsterdam. “Survey measures of hiring intentions point to further increases in unemployment over the coming months, so we would expect unemployment to breach the 11 percent threshold.”
The euro declined against the dollar today and was down 0.8 percent at $1.3137 as of 10:30 a.m. in London. The benchmark Stoxx Europe 600 Index pared gains to 0.1 percent.
The euro-area jobless rate matched the median forecast of 31 economists in a Bloomberg survey. In the 27-nation European Union, the unemployment rate was 10.2 percent in March, unchanged from the previous month and up from 9.4 percent a year earlier. Italy said today its jobless rate jumped to a 12-year high of 9.8 percent in March.
In Germany, the number of people out of work in increased a seasonally adjusted 19,000 in April to 2.87 million, the Nuremberg-based Federal Labor Agency said. Economists forecast a decline of 10,000, according to the median of 34 estimates in a Bloomberg survey. The adjusted jobless rate was unchanged at 6.8 percent, a two-decade low.
Declining unemployment has helped gird Germany against the debt crisis by bolstering household spending as export growth slows. Frank-Juergen Weise, the labor agency’s president, said the “positive trend on the labor market remains intact, but the economy has lost momentum.”
A manufacturing gauge in the euro region fell to 45.9 in April, a 34-month low, from 47.7 in March, Markit Economics said today. Readings below 50 indicate contraction. The report also indicated that job losses at factories increased and there was “weak” demand from both domestic and export customers.
The index contrasts with a similar gauge in the U.S. released yesterday showing manufacturing growth accelerated last month in the world’s largest economy.
A Chinese manufacturing index from HSBC Holdings Plc and Markit Economics today rose to 49.3 from 48.3 in March. That’s above a preliminary 49.1 reported April 23. A separate index released yesterday by China’s statistics bureau and logistics federation was at 53.3, indicating the fastest growth in a year.
In Europe, the debt crisis is curbing demand for goods. Manufacturers are also facing pressure from rising costs as oil prices increase. Stuttgart, Germany-based Robert Bosch GmbH, the world’s biggest car-parts supplier, said on April 26 that it will be harder to meet profit targets as high raw-material costs and spending on new business areas hurt margins.
“Economic uncertainties remain high,” Bosch Chief Executive Officer Franz Fehrenbach said.
The unemployment data showed that the number of people out of work in the euro area rose by 169,000 in March to 17.4 million. From a year earlier, unemployment increased by 1.73 million.
Spain had the region’s highest unemployment rate in March, at 24.1 percent. Data on April 30 showed that the Spanish economy contracted 0.3 percent in the first quarter, putting it into its second recession since 2009. The lowest jobless rates were in Austria and the Netherlands, at 4 percent and 5 percent respectively.
The labor-market and factory reports “underline the enormity of the challenge facing policy makers to respond,” said Jonathan Loynes, chief European economist at Capital Economics in London. “‘There may be a growing ‘consensus’ on the need for growth in the euro zone. But with unemployment rising and industry slumping, a prolonged recession looks much more likely.”