German economy slows in third quarter
German economic growth halved in the third quarter, falling to 0.2 percent as weaker exports took their toll.
The 0.2 percent growth seen between July and September was a steep drop on the 0.7 percent and 0.4 percent seen in the first and second quarter respectively, and was slower than analysts had expected.
Germany’s Federal Statistics Office said in a statement:
“The development of foreign trade had a downward effect on growth.
“Exports were slightly down while imports were slightly up compared with the second quarter of 2016.
“Positive impulses on the quarter came mainly from domestic demand,” the statistics body added.
“Both household and state spending managed to increase further.”
EasyJet profits hit by “challenges”
EasyJet saw pre-tax profits fall 27.9 percent in the year to September, after issuing a profit warning last month.
Profits fell to £495 million, despite a 6.6 percent rise in passenger numbers. Revenues fell 0.4 percent to £4.67 billion.
The company cited weak sterling, terror attacks and air traffic control strikes as the reasons for the “challenging environment”.
The group also confirmed the set-up of a continental-based airline to counteract the UK’s exit from the EU.
Cineworld up on big box office films
Big box office hits helped Cineworld see a 14.6 percent rise in revenue for the 45 weeks to November 10th, with the group “confident” of delivering in line with expectations for the full year.
“The Secret Life of Pets”, “Finding Dory”, and “The BFG”, as well as the December release of “Fantastic Beasts and Where to Find Them” have boosted profits.
Box office revenue rose by 8.5 percent for the period, whilst total revenue across the UK and Ireland markets rose 8.4 percent.
15/11/2016
