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India's Manufacturing Sector Sees Mild Recovery Amid Inflation Pressures

India's Manufacturing Sector Sees Mild Recovery Amid Inflation Pressures

India's manufacturing sector experienced a mild recovery in April, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) rising from 53.9 in March to 54.7. This indicates a slight improvement in new business intakes and production, although the growth rate remains the second-weakest in nearly four years. The sector faces challenges from competitive conditions and the ongoing conflict in the Middle East, which has increased inflation pressures. Input costs and output prices have risen, with firms noting higher prices for various materials due to the conflict.
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Federal Reserve's John Williams Asserts Monetary Policy Prepared for Middle East Conflict Impact

Federal Reserve's John Williams Asserts Monetary Policy Prepared for Middle East Conflict Impact

Federal Reserve's John Williams Asserts Monetary Policy Prepared for Middle East Conflict Impact
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Gold Prices Rebound Amid Middle East Tensions and Inflation Concerns

Gold Prices Rebound Amid Middle East Tensions and Inflation Concerns

Gold Prices Rebound Amid Middle East Tensions and Inflation Concerns
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Hugo Boss tops profit forecasts even as Iran war hits markets

Hugo Boss tops profit forecasts even as Iran war hits markets

By Ozan Ergenay May 5 (Reuters) - German fashion group Hugo Boss reported a quarterly operating profit above analysts' expectations on Tuesday, sending its shares nearly 5% higher, even as the Iran war weighed on its Middle East markets.
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IMF Chief Warns of Severe Economic Impact if Middle East Conflict Extends to 2027

IMF Chief Warns of Severe Economic Impact if Middle East Conflict Extends to 2027

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has warned of significant economic repercussions if the ongoing conflict in the Middle East continues into 2027. Speaking at the Milken Institute Global Conference, Georgieva outlined three scenarios for global GDP growth, with the 'severe scenario' predicting a substantial slowdown and increased inflation. The conflict has already led to rising oil prices, with forecasts suggesting prices could reach $125 per barrel. This situation could destabilize global markets, with inflationary pressures affecting economies worldwide.
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UK Energy Prices Surge Amid Global Oil Shock

UK Energy Prices Surge Amid Global Oil Shock

The UK is experiencing significant impacts from the global oil price surge, despite its domestic oil and gas production. The average electricity price in the UK is notably higher than in other major economies, exacerbating the effects of the oil shock. The government is attempting to address these issues by decoupling gas and electricity prices. However, energy-intensive industries and consumers are already feeling the strain, with rising costs contributing to inflation and financial instability.
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China services activity grows at faster rate in April, private PMI shows

China services activity grows at faster rate in April, private PMI shows

By Liangping Gao and Ryan Woo BEIJING, May 6 (Reuters) - China's services activity expanded at a faster pace in April, helped by stronger growth in new business, although overseas demand continued to decline, a private-sector survey showed on Wednesday.
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Wall Street retreats, oil prices jump on conflicting reports of a strike on US Navy vessel near Iran

Wall Street retreats, oil prices jump on conflicting reports of a strike on US Navy vessel near Iran

Wall Street crept toward losses and oil prices jumped on reports that Iran struck a U.S. Navy vessel outside of the Strait of Hormuz, which the U.S. military has since denied
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Supply concerns lift orders for Spain's manufacturers in April, PMI shows

Supply concerns lift orders for Spain's manufacturers in April, PMI shows

May 4 (Reuters) - Spain's manufacturing output and new orders rose in April as clients rushed to secure stock amid disruptions due to the war in Iran, a survey by S&P Global showed on Monday.
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German factory outlook turns negative for first time since 2024, PMI shows

German factory outlook turns negative for first time since 2024, PMI shows

BERLIN, May 4 (Reuters) - German manufacturer sentiment turned negative in April for the first time since October 2024 even as overall activity grew, with firms frontloading orders to beat price rises and supply shortages amid war in the Middle East, a survey showed on Monday.
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Euro area factories snapped up raw materials in April as optimism slumped amid Middle East war - PMI

Euro area factories snapped up raw materials in April as optimism slumped amid Middle East war - PMI

LONDON, May 4 (Reuters) - Euro area manufacturers rushed to build inventories of raw materials in April amid fears of further supply disruptions and higher costs linked to conflict in the Middle East while business confidence slumped to its lowest since late 2024, a survey showed on Monday.
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ECB's Stournaras Calls for Strong Response to Inflation Challenges

ECB's Stournaras Calls for Strong Response to Inflation Challenges

Yannis Stournaras, a member of the European Central Bank's Governing Council, has called for a robust policy response if inflation deviates significantly from targets due to the Middle East conflict. Stournaras, who also heads the Bank of Greece, highlighted the stagflationary pressures caused by the conflict, which presents a supply-side shock to the economy. He emphasized the need for the ECB to balance stabilizing inflation with avoiding economic downturns, as the situation poses a challenge to maintaining economic stability in the euro area.