Euro-Area Inflation Turns Negative in Worrying Sign for ECB
“Consumer prices in the 19-nation euro area are falling for the first time in four years, highlighting that a recent rebound in economic activity hasn’t managed to offset the pandemic’s profound impact on demand. The inflation rate came in at -0.2%, missing economists’ median estimate for a reading of +0.2%. Core inflation hit a record low, in part dragged lower by discounting during summer sales.”
Asia’s Factories Continue Their Fragile Recovery in August
“Closely watched manufacturing gauges in Asia show a continued gradual improvement for the region’s manufacturing powerhouses like Japan, South Korea and Taiwan, even as the picture from the rest of the region is more mixed. Purchasing managers’ indexes for Japan and South Korea improved in August, to 47.2 and 48.5, according to IHS Markit figures, their strongest performance since February. Taiwan’s reading continued to stay above 50, the dividing line between contraction and expansion, recording 52.2 for the month for its best showing in two years.”
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