Tag Archives: economists

Requirement of economists: Wealthy should pay more for euro bailout

An ECB study foments the dispute over the distribution of wealth in Europe. Leading economists now call SPIEGEL: Rich should be more involved in saving the euro. Doing so could save the average German citizen Greek super rich from higher taxes in the end.

Leading economists are convinced that the euro-crisis countries must make a greater contribution to the renovation of its public finances. Especially wealthy should be asked to pay more, said the economy Peter Bofinger SPIEGEL. The economist advised the governments of southern Europe to a capital levy. "The rich must be within ten years, for example, a portion of its assets leave. "

Bofinger is convinced that a capital levy is significantly better than the participation of savers – as happened recently in the rescue of Cyprus: "Resourceful kingdoms of southern Europe but make their money to the banks in Northern Europe and beyond so that the access."

Background of the claim is the wealth report of the European Central Bank (ECB), which was published last week. Thus, the households in the euro-crisis countries on average have considerably more power than the Germans.

The results of the study confirm the opinion of economic experts Lars field the course of the federal government: "It shows that Germany, with its harsh conditions for euro-bailout money is right." Finally, the over-indebted countries receive billions from the bailout fund only relevant consideration. "If there is no longer the tax laws only on paper, even Greece can dispel doubts on the sustainability of its debt," said Field.

Guntram Wolff of the Brussels economists enter the data not only an answer to the question of who should pay the crisis in Southern Europe account: "It is clear once again how unfair the assets are distributed in Germany." Therefore, the German crisis costs should be borne by the wealthy. "The euro rescue would be completely reduced to absurdity, if preserved the Greek super-rich from higher taxes at the end of the comparatively low average German household."

U.S. bonds tend in the course of solid

NEW YORK (Dow Jones) – The new economic data show of the day , the U.S. bonds on Thursday in the course attached. Ten-year bonds with a coupon of 3.500% win to clock 15.50 BST 8 / 32 to 104-30/32 and profitable with 2.92 %. with the  4.375% compounded Long Bond increases by 18/32 to 105-21/32 , its yield drastically reduced to 4.05% .

The weekly initial applications for unemployment are at rose 19,000 to 479,000 , the highest level since April. Economists had expected , on average, with 453 000 .

DJG / raz / mrf 

U.S. construction spending in February, as expected, falling by 1.3%

WASHINGTON (Dow Jones) – The construction spending in the United States have narrowed in February as expected. As the U.S. Commerce Department on Thursday announced that decreased expenditure seasonally adjusted by 1.3% over the previous month to a projected Annual volume of 846.23 billion USD.

surveyed by Dow Jones Newswires Economists had expected a decline in the run by 1.3%.
The change in construction spending was unchanged compared to minus 1.4% corrected after being reported was down 0.6% was. The projected annual value was created in January at 857,80 Mrd USD.
Other reportedly fell to the expenditure of Housing in February by 2.1% to 258.49 billion USD. called for the January Department a revised rise of 0.7% to 264,00 billion.

Website: http://www.census.gov

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Eurozone retail sales stagnated in December

2010-02-02-Einzelhandel_ddp LUXEMBOURG (AP) – The retail sector in the euro area has been weakened in December in a single month than expected. As the statistical agency Eurostat announced on Wednesday that sales remained in the common currency area unchanged from the previous month. (Photo: ddp)

Economists had expected the other hand, with an increase of 0.4%. In November, sales in the euro zone is not dropped as much as initially reported. Eurostat revised the sales decline for November to 0.5% (provisional: minus 1.2%).
For the year as sales in the euro area were lower in December by 1.6%. Economists had forecast a deficit of 2.4%. In November, the decline was a revised full year at 2.0% (provisional: be minus 4.0%).
Across the EU, the retail sales continued in December at 0.1% less than last month and by 1.0% less than last year. For November showed a monthly minus provisionally revised to 0.5% (from minus 0.8%), compared to the previous year, sales were revised to 1.3% (down 2.1%).
In the year 2009, sales decreased by 2.3% in the euro area and EU-27 by 1.7%.

Website: http://ec.europa.eu/eurostat
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ISM Index of U.S. industry in January to the highest level since 2004

2010-02-01_Fabrikarbeiter_ddp WASHINGTON (Dow Jones) – The national index of purchasing managers in manufacturing in the United States has become significantly better than expected in January. According to the Institute for Supply Management (ISM) on Monday, it rose to a level of 58.4 points, reaching its highest level since August 2004. (Photo: ddp)

Economists surveyed by Dow Jones Newswires had forecast a rise to only 55.3 after the previous month for the index is a highly regarded state had been expelled from 54.9.
The index for new orders rose to 65.9, according to the information (previous month: 64.8). The sub-index for production was estimated at 66.2 (59.7). The employment component rose to 53.2 (50.2), for which delivery dates 60.1 (56.8) were reported, the index of the stocks showed a level of 46.5 (43.0). For the sub-index of prices, a value was cited by 70.0 (61.5).
A state of the ISM index above 50 indicates an expansion of manufacturing in the U.S., a level below that mark indicates a contraction. The ISM, however, stresses regularly that an index value indicates more than 41.2 points over a longer period of time still a growth in gross domestic product (GDP).

Website: http://www.ism.ws
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