European exchanges mostly fell on the worsening outlook for global economic growth and weak performance in China
The main European stock indexes closed mostly decline. By Monday's results the DAX (Germany) and CAC 40 (France) lost 0.45% and 0.23% respectively, FTSE 100 (UK) gained 0.63%. The stock exchanges are still dominated by concerns about the outlook for the global economy, which intensified after the worsening of the global GDP forecast by the European Commission and the release of weak statistics in China. In the latter, a 5% drop in retail sales in April exceeded forecasts, amounting to 11.1%. Analysts had expected a decrease of 6.1%. of this index by 6.1%. Industrial production in the country fell by 2.9% contrary to expectations of growth of 0.4%. The European Commission had considerably lowered its forecast for global GDP growth. - The difference from the previous one was 2.5 percentage points, the new estimate is 3.2%. The same indicator for the euro area was also downward revision to 2.7%, the previous forecast was 4%. In addition, the European Commission expects growth in inflation in Europe this year to 6.1%.