The World Trade Organization (WTO) authorized today the U.S. to impose tariffs on EU-imported goods to cover an estimated annual loss of USD7.5bn in compensation for illegal state aid provided to aircraft maker Airbus.

The ISM manufacturing index fell for the seventh consec¬utive month and has now been below 50 points for two straight months, thus indicating contraction.

Earlier this week the Italian government presented its 2020 budget plan which sees it targeting a deficit of -2.2% of GDP – up from -2.1% in 2019.

Trade openness is not the best bargain in 2019, since world trade in goods already experienced three quarters of contraction and Morocco is no exception.

Two recent data releases are pointing towards a manufacturing recovery in Brazil.

Economic sentiment in the industrial sector of large eastern European economies has continued to worsen, by and large.

GDP growth was stable at +5.6% y/y in Q2 (unchanged from Q1).

The Reserve Bank of Australia (the central bank) lowered its key policy interest rate again by 25bp this week (after similar moves in June and July) to a record low of 0.75%, in a bid to boost the faltering economy.