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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector net borrowing recorded a deficit in June
The public sector net borrowing (excluding temporary effects of financial interventions) in the UK has reported a deficit £7.80 billion in June, as compared to a revised deficit of £9.90 billion in the previous month. Markets were expecting public sector net borrowing to post a deficit of £9.50 billion.
UK retail sales rose less than expected in June
On a YoY basis, in June, retail sales advanced 4.30% in the UK, lower than market expectations for an advance of 5.00%. In the prior month, retail sales had registered a revised rise of 5.70%.
UK public sector net cash requirement posted a deficit in June
Public finances (public sector net cash requirement) has posted a deficit £14.86 billion in June, in the UK, following a revised deficit of £4.69 billion in the previous month.
UK public sector net borrowing recorded a deficit in June
The public sector net borrowing has posted a deficit £7.30 billion in June, in the UK, from a revised deficit of £9.40 billion in the previous month. Markets were anticipating public sector net borrowing to announce a deficit of £9.20 billion.
UK retail sales dropped more than expected in June
On a MoM basis in the UK, retail sales eased 0.90% in June, higher than market expectations for a drop of 0.60%. In the previous month, retail sales had advanced 0.90%.
ECB kept monetary policy steady, vowed to help Euro-zone if Brexit hurts
The European Central Bank (ECB) held the benchmark refinancing rate steady at 0% and its asset purchase programme unchanged at €80 billion. However, the ECB President, Mario Draghi, indicated that the central bank will not hesitate to add fresh stimulus, if Britain’s vote to leave the European Union starts to weigh on the Euro-zone.
French business survey overall demand climbed in July
Business survey overall demand recorded a rise to 12.00 in France, in July, compared to a revised level of 10.00 in the previous month.
French own-company production outlook dropped in July
Compared to a level of 9.00 in the prior month own-company production outlook registered a drop to 3.00 in France, in July.
French industrial business climate index rose unexpectedly in July
In July, the industrial business climate index in France recorded an unexpected rise to a level of 102.00, compared to market expectations of a drop to a level of 99.00. In the previous month, the industrial business climate index had recorded a level of 100.00.
French production outlook indicator recorded a rise in July
In July, the production outlook indicator climbed to 3.00 in France. In the previous month, the production outlook indicator had recorded a reading of 1.00.
Spanish trade deficit widened in May
Spain has reported trade deficit of €0.94 billion in May, from a trade deficit of €0.64 billion in the previous month.
Swiss trade surplus declined in June
In June, trade surplus in Switzerland fell to CHF 3.55 billion, compared to a revised trade surplus of CHF 3.78 billion in the previous month.
Swiss exports eased in June
In Switzerland, exports recorded a drop of 3.30% on a MoM basis, in June. Exports had dropped by a revised 1.00% in the prior month.
Swiss imports registered a drop in June
In June, on a MoM basis, imports in Switzerland eased 4.00%. In the previous month, imports had fallen by a revised 0.60%.
Swiss M3 money supply advanced in June
On a YoY basis, M3 money supply registered a rise of 2.50% in June, in Switzerland. In the prior month, M3 money supply had advanced 2.00%.
US housing price index advanced less than expected in May
On a MoM basis, the housing price index rose 0.20% in the US, in May, less than market expectations for a rise of 0.40%. The housing price index had registered a revised rise of 0.30% in the previous month.
US Philadelphia Fed manufacturing index registered a drop in July
Philadelphia Fed manufacturing index in the US registered a drop to -2.90 in July, compared to a reading of 4.70 in the prior month. Market expectation was for Philadelphia Fed manufacturing index to ease to a level of 4.50.
US leading indicator rose more than expected in June
In June, on a monthly basis, leading indicator registered a rise of 0.30% in the US, more than market expectations for an advance of 0.20%. Leading indicator had recorded a drop of 0.20% in the prior month.
US initial jobless claims slid unexpectedly in the last week
In the US, the seasonally adjusted initial jobless claims recorded an unexpected drop to a level of 253.00 K in the week ended 16 July 2016, lower than market expectations of a rise to a level of 265.00 K. In the prior week, initial jobless claims had registered a reading of 254.00 K.
US continuing jobless claims recorded a drop in the last week
The seasonally adjusted continuing jobless claims recorded a drop to 2128.00 K in the week ended 09 July 2016, in the US, compared to market expectations of a fall to a level of 2137.00 K. In the previous week, continuing jobless claims had recorded a revised reading of 2153.00 K.
US existing home sales unexpectedly climbed in June
Existing home sales in the US unexpectedly rose by 1.10%, on monthly basis, to a level of 5.57 million in June, higher than market expectations of 5.48 million. Existing home sales had recorded a revised level of 5.51 million in the prior month.
US Chicago Fed national activity index advanced in June
The Chicago Fed national activity index rose to a level of 0.16 in the US, in June, compared to a revised reading of -0.56 in the prior month. Market anticipation was for the Chicago Fed national activity index to advance to a level of -0.20.
Canadian wholesale sales advanced more than expected in May
In May, on a monthly basis, wholesale sales climbed 1.80% in Canada, more than market expectations for an advance of 0.20%. In the prior month, wholesale sales had risen by a revised 0.20%.
Foreign investors turned net buyers of Japanese stocks in the previous week
Foreign investors turned net buyers of ¥444.60 billion worth of Japanese stocks in the week ended 15 July 2016, from being net sellers of ¥306.80 billion worth of Japanese stocks in the prior week.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥453.70 billion worth of foreign stocks in the week ended 15 July 2016, from being net buyers of ¥221.20 billion worth of foreign stocks in the prior week.
Foreign investors turned net sellers of Japanese bonds in the previous week
Foreign investors turned net sellers of ¥115.70 billion worth of Japanese bonds in the week ended 15 July 2016, from being net buyers of ¥27.40 billion worth of Japanese bonds in the previous week.
Japanese supermarket sales fell in June
On a YoY basis, supermarket sales recorded a drop of 0.50% in Japan, in June. Supermarket sales had registered a drop of 1.30% in the prior month.
Japanese manufacturing PMI climbed in July
In July, the preliminary manufacturing PMI in Japan advanced to 49.00. In the prior month, manufacturing PMI had recorded a level of 48.10.
Japanese all industry activity index declined less than expected in May
The all industry activity index in Japan registered a drop of 1.00% on a MoM basis in May, compared to a revised advance of 0.80% in the previous month. Market anticipation was for the all industry activity index to fall 1.10%.
Japanese machine tool orders registered a drop in June
In June, on an annual basis, the final machine tool orders in Japan fell 19.90%. Machine tool orders had dropped 24.70% in the previous month. The preliminary figures had also recorded a drop of 19.90%.
Japanese investors remained net buyers of foreign bonds in the previous week
Japanese investors remained net buyers of ¥1718.10 billion worth of foreign bonds in the week ended 15 July 2016, as compared to being net buyers of a revised ¥2549.70 billion worth of foreign bonds in the previous week.
Chinese MNI business sentiment index advanced in July
The MNI business sentiment index rose to a level of 55.50 in July, in China. The MNI business sentiment index had recorded a reading of 54.50 in the previous month.
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