Eurozone: Activity among Eurozone businesses accelerates markedly in April
Reuters reports that the activity of businesses in the euro area increased at the highest pace in almost three years in April. The Composite Purchasing Manager’s Index increased from March’s 53.1 to 54.0 in April. While the indicator still shows that the economic upturn is strongest in Germany, Spain and Ireland tallied the largest expansion since before the financial crisis.
United Kingdom: OECD Warns on UK House Prices
As The Guardian reports, the OECD said that Britain should take action over soaring house prices, perhaps by scaling back the government’s mortgage guarantee scheme. Britain’s housing market, buoyed by record low interest rates and government-sponsored schemes, has been a driver of the country’s surprisingly fast, consumer-led economic recovery.
Japan: OECD Warns Japan’s Economy May Suffer Inflation Without Wage Growth
In its biannual report, the OECD has stated that the, “recent pick-up in inflation [in Japan] is encouraging, but it could undermine the recovery unless it is accompanied by a matching rise in wages.”
Global: OECD Cuts Global Growth Forecast for 2014
As reported by the BBC, the global economy will grow by less than expected this year as growth in developing economies slows, The Organization for Economic Co-operation and Development predicts. It expects 3.4% world growth this year, down from its 3.6% November forecast. In 2015, however, it still expects growth of 3.9%.
Thailand: Thailand Court Ousts PM Yingluck Shinawatra
As reported by BBC News, the Constitutional Court charged Thai Prime Minister Yingluck Shinawatra with nepotism. As a result the PM must step down of politics. Recent developments might deepen the ongoing political crisis.