Museum economics: how the contemporary art boom is hurting the bottom line

Aug 03, 2016 06:14 am UTC| Insights & Views Economy Business

Americans clearly love their museums, particularly in the summer months. In fact, museum attendance is estimated at about 850 million visits a year, significantly more than all the major league sporting and theme parks...

US consumer spending continues to rise in June; likely to contribute strongly to growth in Q3

Aug 03, 2016 05:05 am UTC| Commentary Economy

US personal income was up 0.2 percent in June, a tad lower than consensus projection of 0.3 percent. Meanwhile, real disposable personal income rose 0.1 percent in June. On the other hand, personal spending rose strongly...

Markets bet on another RBA rate cut in early 2017

Aug 02, 2016 12:18 pm UTC| Insights & Views Economy Central Banks

Earlier on Tuesday, the Reserve Bank of Australia (RBA) decided to cut its benchmark interest rate by 25 basis points to a record low level of 1.50 percent. The decision was largely in-line with market expectations. The...

Industrial producer prices in euro area rise 0.7 percent month-on-month in June

Aug 02, 2016 11:01 am UTC| Commentary Economy

Industrial producer prices in the euro area were up 0.7 percent month-on-month in June, according to the estimates of Eurostat. In the European Union, the industrial producer prices were up 0.8 percent on a sequential...

Finland’s Q1 GDP growth significantly revised down; export growth to remain low in Q2

Aug 02, 2016 09:17 am UTC| Commentary Economy

The starting point for 2016 for Finland came out to be softer than anticipated as the first quarter growth was significantly revised downward. So far, the data for second quarter has been mixed. Foreign trade has been...

US manufacturing output growth recovers strongly in July on solid, rapid rise of incoming new work

Aug 02, 2016 07:12 am UTC| Commentary Economy

Manufacturers in the US have hinted at a comparatively strong beginning to this years third quarter. Since June, output growth recovered strongly, thanks to solid and rapid growth of incoming new work. The seasonally...

US construction expenditure seen on downward shift; construction spending falls 0.6 pct in June

Aug 02, 2016 06:51 am UTC| Commentary Economy

Nominal value of US construction spending reached a seasonally adjusted USD 1, 133.5 billion in June, declining 0.6 percent in the month, the third straight month of decline. This is a huge miss as compared to the...