Office for National Statistics (ONS) UK May inflation rises 7x faster than EU, Eurozone, France and Germany. It is 5th highest in Europe
#BrexitReality
Here are the major European inflation figures for May 2023:
๐ซ๐ท FRANCE: 5.1
๐ฉ๐ช GERMANY: 6.1
๐ช๐บ ๐ถ EUROZONE: 6.1%
๐ช๐บ EU: 7.1%
๐ฎ๐น ITALY: 7.6
๐ฌ๐ง UK: 8.7% ๐ฅ๐ฅ๐ฅ
#BrexitHasFailed
๐ถ The HCOB Eurozone Manufacturing PMI 43.6
Lowest since May 2020!
Excluding pandemic, lowest since June 2009!
Chart: MacroMicro #recession
The UK had the highest economic growth compared to any other G7 country in 2021 and 2022. In July 2022, ๐ฌ๐ง exports to ๐ช๐บ were not just the highest since Brexit, but since records began! The Eurozone is in recession. We are not. Let us celebrate our country ๐ฌ๐ง and its achievements
Robert Peston Oh jeez Robert Peston please stop.
Germany also has its highest borrowing cost since 2009.
It is lower than the UK because the Eurozone has a chronic deflationary problem due to its large unemployed population and they all bring each other down.
Also, Germany has lower debt-GDP.โฆ
The Eurozone Falls into Recession as 'Stimulus' Fails
Mises Institute
mises.org/wire/eurozone-โฆ
INTEREST RATES โ ๏ธ
Current rates vs most recent action from central banks vs current CPI:
๐บ๐ฒ USA 5.25% (paused) CPI 4%
๐ฌ๐ง UK 5% (+0.5%) CPI 8.7%
๐ช๐บ Eurozone 4% (+0.25%) HICP 6.1%
๐จ๐ฆ Canada 4.75% (+0.25%) CPI 4.4%
๐ฆ๐บ Australia 4.1% (+0.25%) CPI 7%
๐จ๐ณ China 3.55% (LPR) (-0.1%)โฆ
#Eurozone flash #PMI signalled that the private sector economy came close to stalling in June (Hamburg Commercial Bank Economics PMI at 50.3; May:52.8). Manufacturing remained the principal area of weakness but growth in the service sector also slowed sharply. Read more: ow.ly/kc9F50OVslV