Home » World » Economy, trade & finance: dpa-AFX overview: KONJUNKTUR from May 17, 2021

Economy, trade & finance: dpa-AFX overview: KONJUNKTUR from May 17, 2021

ROME – In Italy, inflation increased significantly in April. The consumer prices determined according to the European method WASHINGTON – Sentiment in the US housing market didn’t change in May. The NAHB home market index remained at 83 points compared to the previous month, as the National Association of Home Builders announced in Washington on Monday. Analysts had expected the development.

USA: Sentiment in New York industry is clouding over a bit

NEW YORK – Sentiment in New York industrial companies deteriorated somewhat in May. The Empire State Index fell compared to the previous month by 2.0 points to 24.3 points, as the regional central bank of New York announced on Monday. Analysts had expected on average a somewhat stronger decline to 23.9 points.

The EU and the USA want to settle the conflict over steel and aluminum imports

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BRUSSELS – The EU and the US want to find a solution to their dispute over special tariffs on steel and aluminum imports by the end of the year. The aim is to show that the problem of overcapacity can be tackled together, both sides announced in a statement on Monday. It is agreed that the overcapacities are mainly caused by third parties. Countries that, like China, pursue trade-distorting policies could be held jointly accountable.

Italy: inflation increases significantly

ROME – In Italy, inflation increased significantly in April. The consumer prices (HICP) determined according to the European method rose by 1.0 percent compared to the same month last year, as the statistical office Istat announced on Monday in Rome after a second estimate. The result of the first survey was confirmed. In March inflation was only 0.6 percent.

China: Retail development is weaker than expected – industry on schedule

BEIJING – In China, the retail sector did not recover as strongly from the corona shock of the previous year in April as expected. Retail sales increased by 17.7 percent compared to the same month last year, the statistics office announced on Monday in Beijing. However, analysts had expected an average increase of 25 percent. In the first four months of the year, retail sales increased by almost 30 percent.

Expert opinion: German companies face problems in Xinjiang

BERLIN – The planned supply chain law could put German companies operating in the Chinese region of Xinjiang into trouble. According to an expert opinion by the Scientific Services of the Bundestag, companies could be forced to discontinue their cooperation with state suppliers if it is proven that they have injured the minority of Muslim Uighurs.

Ifo President warns of wealth tax

MUNICH – Ifo President Clemens Fuest has warned against the introduction of a wealth tax. It “would be a loud signal to all investors to avoid Germany as a location” and would hinder an upswing after the Corona crisis, he told the “Augsburger Allgemeine” (Monday). Almost all industrialized countries would have abolished it. “Introducing them in Germany would be a risky tax policy special route.”

Ifo survey: Shortage of materials hits the construction industry

MUNICH – According to a survey by the Ifo Institute, the German construction industry is being held back by a “significant” shortage of materials. “This is an unprecedented bottleneck since 1991,” said an analysis by the Munich research institute published on Monday. Due to the lack of materials, construction activity was at least temporarily impaired in April.

Corona costs for the UK rise to £ 372 billion

LONDON – Due to the corona pandemic, the British Court of Auditors expects enormous burdens for taxpayers. The estimated cost of the government’s crisis response between February 2020 and the end of March 2021 was £ 372 billion (€ 431 billion), the Court of Auditors announced in London on Monday. That is 100 billion pounds more than the amount calculated in January. Of this, 172 billion pounds have already been spent. This includes £ 26 billion in loans that are expected to need to be written off.

Netherlands: Second round of easing on Wednesday

DEN HAAG – In the Netherlands, nothing stands in the way of the second round of easing the corona measures. The situation with new infections and admissions to hospitals has improved significantly, said Health Minister Hugo de Jonge on Monday in The Hague. “The next step is responsible.” The government had already announced the easing last week, but made it dependent on falling infection numbers.

Brexit dispute: EU insists on implementation of the Northern Ireland rules

BRUSSELS / LONDON – In the Brexit dispute with Great Britain, the EU is resisting relaxing or abandoning the special rules for Northern Ireland. The so-called Northern Ireland Protocol is the best solution to problems that arose from Britain’s exit from the EU, said a spokesman for the EU Commission on Monday in Brussels. The protocol needs to be implemented in a way that makes it work for the people of Northern Ireland and Ireland.

World Economic Forum cancels annual meeting in Singapore

SINGAPORE / GENEVA – Due to the corona pandemic, the World Economic Forum (WEF) has finally canceled its annual meeting planned for August. The conference was supposed to take place in mid-August in the Southeast Asian city-state of Singapore – instead of in Davos, Switzerland, as usual. The tragic circumstances made the global meeting with representatives from business, government and civil society from all over the world impossible on the planned scale, the WEF announced on Monday in Geneva. The next annual conference should now take place in the first half of 2022. Time and place would be announced.

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ROUNDUP: You are reading a summary in the economic overview. There are several reports on this topic on the dpa-AFX news service.

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