The headline S&P Global Germany Manufacturing PMI registered at 52.2 in March, up from50.9 in February and its highest reading since May 2022. The figure came above 51.7. key findings include: Cost pressures intensify in March alongside notable supply chain delays; Output and new orders buoyed as customers react to disruption; Business expectations retreat sharply to four-month low. "The immediate...
The headline S&P Global Germany Manufacturing PMI registered at 52.2 in March, up from50.9 in February and its highest reading since May 2022. The figure came above 51.7. key findings include: Cost pressures intensify in March alongside notable supply chain delays; Output and new orders buoyed as customers react to disruption; Business expectations retreat sharply to four-month low. "The immediate impacts of the war in the Middle East on the German manufacturing sector are clear to see in March's PMI results. Most notably, input cost inflation has spiked higher on the back of the surge in oil and gas prices, registering its largest single-month rise on record. "We're already starting to see signs of stress across supply chains, with lead times on inputs lengthening to the greatest extent since mid-2022. This has helped boost the headline PMI, due to the assumption that longer delivery times are usually associated with increased demand. March did in fact see stronger rates of output and new order growth, even against the backdrop of the Middle East war." said Phil Smith, Economics Associate Director at S&P Global Market Intelligence. More on Germany EUR/USD Found Support Above 1.1495, Potential Push Up Towards 'Expanding Wedge' Range Resistance Logical Skepticism For Peace Pulls The Petrodollar Higher - EUR/USD, AUD/USD And Dollar Index Overview USD Strength Vs. Euro Vulnerability: What's Next For The EUR/USD Pair? Global current account imbalances reach near-historic highs, BoE warns ‘Mr. Brexit’ strategist nails winning calls as Iran conflict erupts
This debut about female friendship and environmental fragility set after the 2004 tsunami in Thailand is strong on grief, but the storytelling remains uneven The underlying themes of this debut novel could hardly be more relevant. Marissa is working as a travel writer without leaving her desk, coining gleaming descriptions of untouched beaches for tourists. But as she does so, her mind runs on dar...
This debut about female friendship and environmental fragility set after the 2004 tsunami in Thailand is strong on grief, but the storytelling remains uneven The underlying themes of this debut novel could hardly be more relevant. Marissa is working as a travel writer without leaving her desk, coining gleaming descriptions of untouched beaches for tourists. But as she does so, her mind runs on darker paths. She is living in New York while it braces for Hurricane Sandy, and as the wind rises she remembers being caught up in the horrors of the 2004 tsunami in Thailand. She grieves for the beauty of the ocean that she knew then, and the fate of her beloved friend Arielle. Loss, love, environmental fragility, female friendship: I was ready to plunge into the waves of this novel, to swim with its currents of grief and longing. But while I found myself at times drawn in to the narrative, at others I was distanced by Menon’s style, which is deliberately fragmented but also disappointingly uneven. Continue reading...
Inventive creature design, goopy practical effects and a metal guitar soundtrack make this reworking of a Roger Corman fantasy a treat for one’s inner child A 1980s Roger Corman swords-and-sorcery movie gets a loving remake here, as strapping antihero Deathstalker attempts to break the spell of a cursed amulet in the Kingdom of Abraxeon, with sensational low-budget creature design and lashings of ...
Inventive creature design, goopy practical effects and a metal guitar soundtrack make this reworking of a Roger Corman fantasy a treat for one’s inner child A 1980s Roger Corman swords-and-sorcery movie gets a loving remake here, as strapping antihero Deathstalker attempts to break the spell of a cursed amulet in the Kingdom of Abraxeon, with sensational low-budget creature design and lashings of goopy practical special effects where you can really feel the splatter. Said kingdom is being laid waste by the Dreadites, minions of the evil sorcerer Nekromemnon. You’ll know how you’ll feel about this film by your response to words such as “Dreadites” and “Nekromemnon”. For many (like me), there is wondrous pleasure to be found in the ludicrousness of this nomenclature – so perfectly on the nose and so stupidly appealing to one’s inner child. Everyone else please move along, this movie is very much an acquired taste. Continue reading...
At a petrol station in the Washington suburbs, drivers confronted the harsh domestic repercussions of the war on Iran, as spiking fuel prices hit household budgets hard. Jeanne Williams, 83, had just driven 160km from Richmond, Virginia, where she was visiting her elder sister. “That is horrible,” she said, stunned by the prices visible on the Liberty petrol station’s LED board. “I’m not angry. I’...
At a petrol station in the Washington suburbs, drivers confronted the harsh domestic repercussions of the war on Iran, as spiking fuel prices hit household budgets hard. Jeanne Williams, 83, had just driven 160km from Richmond, Virginia, where she was visiting her elder sister. “That is horrible,” she said, stunned by the prices visible on the Liberty petrol station’s LED board. “I’m not angry. I’m just bewildered, confused, unhappy,” she said. “Because we didn’t ask for the war.” On Tuesday,...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter Oil has shot up by a lot since the start of war with Iran. But it could still get much worse. So far, the massive disruption (due to the closure of the Strait of Hormuz) has been cushioned by the drawing down of inventories and distributions from strategic stockpiles. Meanwhile,...
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Watch Odd Lots on YouTube Subscribe to the newsletter Oil has shot up by a lot since the start of war with Iran. But it could still get much worse. So far, the massive disruption (due to the closure of the Strait of Hormuz) has been cushioned by the drawing down of inventories and distributions from strategic stockpiles. Meanwhile, there is some oil still on tankers that has yet to be delivered. According to Bloomberg Opinion columnist Javier Blas, the potential remains for oil to go much, much higher. On this episode, we speak with Javier about the scale of the shock, why the pain is extraordinarily high in East Asia, how this compares to past oil shocks, and what the world would look like if Iran retains control of the Strait.
Germany’s economy will grow at less than half the pace expected just a few months ago due to the conflict in the Middle East, according to the country’s leading research institutes. Gross domestic product will rise 0.6% this year, they said in their bi-annual forecast published Wednesday. That’s a sharp downgrade from the 1.3% growth predicted in September as faster inflation curbs private consump...
Germany’s economy will grow at less than half the pace expected just a few months ago due to the conflict in the Middle East, according to the country’s leading research institutes. Gross domestic product will rise 0.6% this year, they said in their bi-annual forecast published Wednesday. That’s a sharp downgrade from the 1.3% growth predicted in September as faster inflation curbs private consumption. They see GDP increasing 0.9% in 2027. Consumer prices are likely to rise by 2.8% this year and 2.9% next, the institutes said. “The energy-price shock triggered by the Iran war is hitting the recovery hard,” said Timo Wollmershaeuser , head of forecasts at the Ifo Institute. “But at the same time expansionary fiscal policy is bolstering the domestic economy and preventing a stronger slide.” Hopes of a spending-driven rebound for Europe’s biggest economy are receding as the closure of the Strait of Hormuz shakes global oil and gas markets and disrupts supply chains. As a result, inflation in Germany jumped to its highest rate in more than a year in March, while sentiment indicators have deteriorated. Chancellor Friedrich Merz ’s government, which had been counting on investments in infrastructure and defense to revive the economy, is set to unveil measures to help consumers facing steeper heating and fuel bills. To avoid additional strain on the budget, Finance Minister Lars Klingbeil has proposed a windfall tax on energy companies. Read More: Germany Sees Danger of 2026 Growth Rate Halving on Iran Crisis The institutes said they oppose interventions that lower energy prices in the short term, as they’d nullify important market signals. Instead, they advocate targeted social compensation measures. Their bleaker assessment of the year ahead chimes with the thinking of German officials, who’ve raised the prospect that growth could amount to just 0.5% in a worst-case scenario, according to people familiar with the matter. Less-severe assumptions of elevated prices see exp...