Production in Iran is tumbling as sanctions begin to bite OPEC+ only able to partly compensate for lower Iranian production…
US consumer confidence increased slightly in February amid stronger expectations. Households benefit from solid increases in employment and wages, while lower interest rates are aiding the housing markets. Uncertainty from coronavirus (and lower equity prices) not yet visible
German Ifo was largely unchanged in February with current conditions down a little and expectations up. Manufacturing expectations for production and business development increased further. This number pre-dates the outbreak of coronavirus in Italy, so outlook remains uncertain
Flash euro area PMI improved further in February despite negative impact on expectations from coronavirus uncertainty. Manufacturing pushed up by Germany (stronger new domestic orders and fewer job cuts), and services by France. All things considered, this is not bad #macrobond
Optimism among US home builders declined again in February, but level remains close to record-high. Sentiment has improved across all regions over the past year and is supported by lower interest rates and solid income gains in households #macrobond
German ZEW sentiment index declined in February - both expectations and current conditions. Hardly surprising amid the coronavirus uncertainty, but highlights the continued fragile state of German manufacturing. Overall economic conditions are better #macrobond
