The document provides an overview of recent economic indicators from Europe, the US, Japan and Germany. It summarizes GDP forecasts which remained positive for Europe and the US but fell slightly for Japan. It also reviews recent economic data on industrial confidence, unemployment, inflation and other indicators, which were mostly stable or improving. However, the IFO Business Climate index for Germany fell in March due to concerns about emerging markets and events in Crimea.
DELSA/GOV 3rd Health meeting - Christian KASTROPOECD Governance
This presentation by Christian KASTROP was made at the 3rd Joint DELSA/GOV Health Meeting, Paris 24-25 April 2014. Find out more at www.oecd.org/gov/budgeting/3rdmeetingdelsagovnetworkfiscalsustainabilityofhealthsystems2014.htm
"Highlights":
Annual inflation was stable in April
GDP growth maintained by retail trade and impeded by energy sector
Labour market gradually becoming more favourable for employees
"In Focus":
Eurosystem's monetary policy: Expanded Asset Purchase Programme; autors: Egils Kaužēns
This monthly briefing highlights that global manufacturing production has improved. Economic recovery is slowly strengthening in developed economies; and public fiscal stimulus programmes have been a determinant factor in economic growth in many developing countries.
For more information:
http://www.un.org/en/development/desa/policy/index.shtml
Published by DESA’s Development Policy and Analysis Division, the September issue of the Monthly Briefing on the World Economic Situation and Prospects covers recent events affecting the world economy such as the connection between slowing growth in Europe and weaker exports from Asia. The recessionary environment in Europe is reducing growth prospects for some developing economies as it weakens demand for those economies’ exports. This has been felt most strongly in East and South Asia, where exports to the EU are down by 7.2 per cent year on year, and Western Asia (including Iran) where exports are down 18 per cent.
For more information: http://www.un.org/en/development/desa/policy/index.shtml
El Informe País sobre España muestra un crecimiento sólido, sostenible y más intenso que otros mercados periféricos de la Eurozona.
Tras dos años de contracción, los últimos indicadores de actividad señalan que la recuperación económica de España está tomando impulso. El informe país sobre España que hoy difundimos a nuestros asegurados en 50 países, muestra un rendimiento económico resistente y sostenible y una recuperación más intensa que la de otros mercados periféricos de la Eurozona.
La economía española lleva ya cuatro trimestres seguidos de crecimiento y en el segundo trimestre de 2014, el PIB registró el mayor incremento trimestral desde el primer trimestre de 2007. El aumento de la demanda externa y la mayor confianza empresarial han estimulado la inversión empresarial, mientras que la recuperación del mercado laboral y la demanda contenida de bienes de consumo duraderos han incrementado el consumo privado. Los componentes privados de la demanda interna, básicamente consumo e inversiones, han sido el pilar del crecimiento del PIB en lo que va de 2014 y se espera que se mantengan su solidez en la segunda mitad del año.
El crecimiento está teniendo un impacto positivo en el mercado laboral. El desempleo ha registrado su mayor descenso desde 2006. No obstante, aún existen algunos problemas importantes en el mercado laboral español: el 15% de la población activa ha permanecido desempleada durante más de un año y el desempleo juvenil sigue siendo alto, el 55%. Se espera que el desempleo no baje del 20% durante al menos otros cuatro años.
Actualmente, toda la Eurozona se enfrenta a una reducción de la inflación, lo que inquieta a algunos de sus Estados miembros como España, donde la inflación ha caído bajo cero en 2014. Las medidas anunciadas por el Banco Central Europeo y la creciente demanda interna deberían llevar al aumento de precios de consumo hasta el 0,9% en 2015.
La competitividad internacional de España está mejorando y el sector exportador es relativamente sólido y competitivo. 2007 ha sido el único año reciente en el que la contribución de las exportaciones netas al PIB fue negativa. La comparación basada en el tipo de cambio efectivo real, que mide la competitividad internacional de un país al modificarse costes y precios, muestra que todavía hay un margen considerable de mejora. En 2013, la balanza por cuenta corriente registró su primer superávit desde 1986 y en 2014 se espera otro superávit, reflejo de las mejoras estructurales en competitividad internacional. España registró un sólido rendimiento en exportaciones en 2013, ofreciendo una favorable mezcla de productos y diversificando los mercados de exportación. Aunque Francia y Alemania siguen siendo destinos clave de exportación, España ha aumentado los envíos a mercados emergentes en África, América Latina y Oriente Medio. Asimismo, la inversión extranjera directa ha mejorado y se encuentra a buen n
Description: Colour is used to impress and strengthen the brand of advertised products or the magazine itself Colour management is standardising how colour is reproduced in different stages of the workflow from camera to proofing and printing
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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The Good the Bad and The Ugly of Marketing MeasurementNapierPR
We explore how B2B marketers can impress the board by measuring their PR and marketing campaigns successfully, and explore 5 metrics that will get you promoted, and 3 that will get your fired.
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Mastering Dynamic Web Designing A Comprehensive Guide.pdfIbrandizer
Dynamic Web Designing involves creating interactive and adaptable web pages that respond to user input and change dynamically, enhancing user experience with real-time data, animations, and personalized content tailored to individual preferences.
SEO as the Backbone of Digital MarketingFelipe Bazon
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Trust Element Assessment: How Your Online Presence Affects Outbound Lead Gene...Martal Group
Learn how your business's online presence affects outbound lead generation and what you can do to improve it with a complimentary 13-Point Trust Element Assessment.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
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The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
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The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
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The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
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Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
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2. | Economic Indicators |2
Economic Outlook Monthly Overview – April 2014
Europe:
• Consensus April GDP forecast for WE remained on 1,5% for 2014 and improved by 0,1%point
to 1,8% for 2015.
• The EU industrial confidence decreased slightly compared to last month while the consumer
confidence indicator continued its positive path from the last months also in March.
• The IFO Business Climate index for Germany fell in March after four consecutive increases.
The crisis of the emerging economies and the events in Crimea are impacting confidence.
• The Euro area recovery appears to be gaining traction: retail sales held firm during February,
unemployment came slightly down, consumer confidence expanded in March and PMIs were
also upbeat.
US:
• Consensus April GDP forecast for the US decreased again slightly from 2,8% to 2,7% for 2014.
Forecast for 2015 came down from 3,1% to now 3,0%.
• The US economy made a soft start to 2014, with exports falling in February and winter storms
curbing production. On the other hand, forward-looking manufacturing indicators are robust.
Japan:
• The April GDP growth forecast for Japan fell again from 1,4% to 1,3% for 2014 and remained
stable on 1,3% for 2015.
• On April 1, 2014, Japan raised its consumption tax for the first time in 17 years in an attempt to
help consolidate the country’s hefty deficit. There are fears over how much the sales tax hike
will impact short-term GDP growth and inflation.
4. | Economic Indicators |4
Economic Indicators – GDP EU 28
Source: Eurostat Mar 14
-5
-4
-3
-2
-1
0
1
2
3
4
'08Q1
'09Q1
'10Q1
'11Q1
12Q1
13Q1
%
GDP for the EU 28 countries at constant prices quarter vs. same quarter of last year
5. | Economic Indicators |5
Economic Indicators – GDP EU 28
Source: Eurostat Mar 14
-2.5
-2
-1.5
-1
-0.5
0
0.5
1
'08Q1
'09Q1
'10Q1
'11Q1
12Q1
13Q1
%
GDP for the EU 28 countries at constant prices quarter on quarter
6. | Economic Indicators |6
Economic Indicators –EU 28 Consumer Price Index
Source: Eurostat Apr 14
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
08/1
09/1
10/1
11/1
12/1
13/1
14/1
15/1
14 Mar, 0.6
%
The harmonized index of consumer prices is the result of the collaboration
between Eurostat and National Statistical Institutes of the Member States.
9. | Economic Indicators |9
Economic Indicators – Industrial Confidence Ind EU
Source: Eurostat Apr 14
-40
-35
-30
-25
-20
-15
-10
-5
0
5
10
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Industrial confidence within EU 28 decreased slightly in March, but the industry
remains in a fairly positive mood.
The Industrial Confidence Indicator is the arithmetic average of the answers to the
questions on production expectations, order books and stocks.
10. | Economic Indicators |10
Economic Indicators – Consumer Confidence Ind EU
Source: Eurostat Apr 14
Consumer Confidence within EU 28 continued its positive path in March.
-35
-30
-25
-20
-15
-10
-5
0
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
The Consumer Confidence Indicator is the arithmetic average of the answers to the questions
on the financial situation of households and general economic situation (past and future)
together with that on the advisability of making major purchases.
11. | Economic Indicators |11
Economic Indicators – Capacity Utilization
in Manufacturing Industry in % - EU 27
Source: Eurostat Feb 14
60
65
70
75
80
85
04Q1
05Q1
06Q1
07Q1
08Q1
09Q1
10Q1
11Q1
12Q1
13Q1
14Q1
79.4
%
The capacity utilization in manufacturing industry gives the level of capacity utilization
in percent, as assessed by managers in manufacturing industry.
13. | Economic Indicators |13
Economic Indicators – IFO World Economic Climate
Source: IFO Feb 14
The Ifo World Economic climate further brightens in Q1 2014
This indicator is being updated on a quarterly basis.
14. | Economic Indicators |14
Economic Indicators – IFO European Economic Climate
Source: IFO Feb 14
The economic climate for Europe brightens significantly again in Q1 2014.
This indicator is being updated on a quarterly basis.
15. | Economic Indicators |15
Economic Indicators – IFO NA Economic Climate
Source: IFO Feb 14
This indicator is being updated on a quarterly basis.
16. | Economic Indicators |16
Economic Indicators – GDP Forecast Euro Area
Source: IFO Dec 13
17. | Economic Indicators |17
Economic Indicators – GDP Forecast Germany
Source: IFO Dec 13
19. | Economic Indicators |19
Economic Indicators –
Ifo business situation and 6 month expectations
Source: IFO Apr 14
75
80
85
90
95
100
105
110
115
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
80
85
90
95
100
105
110
115
120
125
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
Business situation 6 months expectations
The IFO-Institut für Wirtschaftsforschung business situation index shows the current evaluation of the
economic situation, while the 6 month expectations index shows the expectations of the companies for the next
6 months. Over 7000 companies are being interviewed.
The Ifo Business Climate Index for Germany fell in March after four successive increases.
Companies expressed far less confidence in future business developments, but were more
satisfied with their current business situation. The crisis of the emerging economies and the
events in Crimea are impacting the confidence of German firms.
20. | Economic Indicators |20
Economic Indicators – IFO Assessment of Current
Business Situation
Source: IFO Apr 14
The Ifo Business Climate Index for Germany fell in March after four successive increases.
Companies expressed far less confidence in future business developments, but were more
satisfied with their current business situation. The crisis of the emerging economies and the
events in Crimea are impacting the confidence of German firms.
21. | Economic Indicators |21
Economic Indicators – IFO business climate index
printing industry
Source: IFO Apr 14, bundesverband druck und medien
-60
-50
-40
-30
-20
-10
0
10
20
Jan08
Jan09
Jan10
Jan11
Jan12
Jan13
Jan14
Jan15
The IFO-Institut für Wirtschaftsforschung business climate index for the printing industry is
based on a monthly representative questionnaire to 300 German printers.
The business climate within the printing industry deteriorated slightly from 0 to -3 in March.
22. | Economic Indicators |22
Economic Indicators – IFO business climate index
printing industry
The IFO-Institut für Wirtschaftsforschung business climate index for the printing industry is
based on a monthly representative questionnaire to 300 German printers.
Business Development at German Printers – March 2014:
The assessment of the current business situation in the printing
industry deteriorated by 9%points and only reached 2% in March.
The business climate – an indicator for the development in
the next quarter – remains clouded, reaching -3% after 0% in the
previous month.
The business expectations for the coming 6 months remained negative
at -8% after -11% in the previous month.
Source: IFO Apr 14, bundesverband druck und medien