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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index rose more than expected in June
The Halifax house price index in the UK advanced 1.30% in June on a MoM basis, more than market expectations for an advance of 0.30%. In the previous month, the Halifax house price index had risen by a revised 0.90%.
UK NIESR estimated GDP recorded a rise in the April-June 2016 period
On a monthly basis, NIESR estimated gross domestic product (GDP) climbed 0.60% in the April-June 2016 period, in the UK. In the March-May 2016 period, NIESR estimated GDP had registered a revised similar rise.
UK Halifax house price index rose more than expected in the April-June 2016 period
The Halifax house price index rose 8.40% in the UK, on a YoY basis in the April-June 2016 period, higher than market expectations for a rise of 7.80%. In the March-May 2016 period, the Halifax house price index had risen 9.20%.
UK industrial production advanced more than expected in May
On a YoY basis, industrial production in the UK climbed 1.40% in May, more than market expectations for a rise of 0.50%. Industrial production had risen by a revised 2.20% in the previous month.
UK manufacturing production declined less than expected in May
On a MoM basis, in the UK, manufacturing production eased 0.50% in May, lower than market expectations for a fall of 1.20%. Manufacturing production had advanced by a revised 2.40% in the prior month.
UK industrial production fell less than expected in May
In May, on a MoM basis, industrial production in the UK recorded a drop of 0.50%, less than market expectations for a fall of 1.00%. Industrial production had recorded a revised rise of 2.10% in the prior month.
UK manufacturing production rose more than expected in May
In the UK, manufacturing production recorded a rise of 1.70% on an annual basis in May, compared to a revised advance of 1.50% in the previous month. Markets were anticipating manufacturing production to climb 0.40%.
ECB concerned about Brexit fallout: June meeting minutes
According to minutes of the European Central Bank’s (ECB) latest monetary policy meeting, which took place ahead of the UK’s referendum, policymakers warned that UK’s vote to leave the European Union could have significant negative repercussions on Eurozone growth. Further, the officials reiterated that the central bank stands ready to provide additional stimulus if inflation continued to miss the near-2.0% target.
German industrial production unexpectedly dropped in May
On a monthly basis, the seasonally adjusted industrial production unexpectedly fell 1.30% in Germany, in May, lower than market expectations for a rise of 0.10%. In the previous month, industrial production had recorded a revised rise of 0.50%.
German industrial production surprisingly fell in May
On an annual basis, the non-seasonally & working day adjusted industrial production in Germany unexpectedly fell 0.40% in May, less than market expectations for an advance of 1.50%. Industrial production had risen by a revised 0.80% in the prior month.
French trade deficit registered a drop in May
Trade deficit in France fell to €2.84 billion in May, compared to a revised trade deficit of €4.85 billion in the previous month. Markets were anticipating the country’s trade deficit to widen to €4.92 billion.
French current account deficit narrowed in May
Current account deficit in France narrowed to €0.30 billion in May. France had registered a revised current account deficit of €2.10 billion in the prior month.
French imports declined in May
Compared to a revised reading of €42.00 billion in the prior month imports registered a drop to €40.50 billion in France, in May.
French exports recorded a rise in May
Exports recorded a rise to €37.70 billion in France, in May. Exports had registered a level of €37.10 billion in the previous month.
Swiss CPI advanced as expected in June
In June, the consumer price index (CPI) registered a rise of 0.10% in Switzerland on a MoM basis, compared to a similar rise in the prior month. Markets were expecting the CPI to advance 0.10%.
Swiss CPI fell less than expected in June
In June, the CPI recorded a drop of 0.40% on a YoY basis in Switzerland, compared to a similar fall in the previous month. Markets were expecting the CPI to drop 0.50%.
Swiss EU HICP fell more than expected in June
The EU harmonised consumer price index (HICP) eased 0.60% on a YoY basis in June, in Switzerland, compared to a drop of 0.50% in the prior month. Markets were anticipating the EU HICP to fall 0.50%.
Swiss EU HICP remained flat in June
In June, the EU HICP in Switzerland remained unchanged on a monthly basis, at par with market expectations. The EU HICP had risen 0.10% in the prior month.
Swiss foreign currency reserves advanced in June
In June, foreign currency reserves recorded a rise to CHF 608.80 billion in Switzerland. In the prior month, foreign currency reserves had registered a level of CHF 602.10 billion.
US number of planned layoffs by US companies slid in June
The number of planned layoffs by US companies in the US recorded a drop of 14.10% in June on a YoY basis. The number of planned layoffs by US companies had registered a drop of 26.50% in the prior month.
Private sector employment in the US advanced in June
The private sector employment in the US registered a rise of 172.00 K in June, following a revised gain of 168.00 K in the previous month. Market expectation was for the private sector employment to rise 160.00 K.
US continuing jobless claims slid in the last week
In the US, the seasonally adjusted continuing jobless claims eased to 2124.00 K in the week ended 25 June 2016, compared to a revised level of 2168.00 K in the prior week. Markets were anticipating continuing jobless claims to ease to 2120.00 K.
US initial jobless claims registered a drop in the last week
The seasonally adjusted initial jobless claims eased to 254.00 K in the week ended 02 July 2016, in the US, compared to market expectations of a fall to a level of 269.00 K. Initial jobless claims had recorded a revised level of 270.00 K in the previous week.
Canadian Ivey PMI advanced in June
In June, the seasonally adjusted Ivey PMI in Canada recorded a rise to 51.70, higher than market expectations of a rise to a level of 51.20. In the previous month, Ivey PMI had recorded a level of 49.40.
Canadian building permits surprisingly slid in May
On a MoM basis, building permits unexpectedly fell 1.90% in Canada, in May, lower than market expectations for a rise of 1.50%. Building permits had registered a revised rise of 0.10% in the previous month.
Canadian Ivey PMI eased in June
Compared to a level of 58.40 in the prior month the non-seasonally adjusted Ivey PMI in Canada dropped to 54.70 in June.
Japanese adjusted (total) current account surplus narrowed in May
The adjusted (total) current account surplus in Japan fell to ¥1414.50 billion in May, following an adjusted (total) current account surplus of ¥1625.80 billion in the previous month. Markets were anticipating the country’s adjusted (total) current account surplus to narrow to ¥1515.40 billion.
Japanese bank lending ex-trust advanced less than expected in June
Bank lending ex-trust in Japan advanced 2.00% on an annual basis in June, less than market expectations for an advance of 2.20%. In the prior month, bank lending ex-trust had advanced 2.20%.
Japanese bank lending including trusts climbed in June
In June, on a YoY basis, bank lending including trusts in Japan rose 2.00%. In the previous month, bank lending including trusts had advanced 2.20%.
Japanese current account surplus narrowed in May
The non-seasonally adjusted current account surplus in Japan narrowed to ¥1809.10 billion in May, from a current account surplus of ¥1878.50 billion in the prior month. Market expectation was for the country’s current account surplus to drop to ¥1751.20 billion.
Japanese labour cash earnings unexpectedly dropped in May
In May on an annual basis, labour cash earnings in Japan unexpectedly eased 0.20%, lower than market expectations for an advance of 0.50%. In the previous month, labour cash earnings had registered a revised flat reading.
Japanese leading economic index remained steady in May
In May, the flash leading economic index remained unchanged at 100.00 in Japan, at par with market expectations.
Japanese coincident index recorded a decline in May
The flash coincident index fell to a level of 110.50 in May, in Japan, compared to market expectations of a drop to a level of 110.30. In the previous month, the coincident index had registered a level of 112.00.
Japanese (BOP basis) trade surplus fell in May
(BOP basis) trade surplus in Japan fell to ¥39.90 billion in May, from a (BOP basis) trade surplus of ¥697.10 billion in the previous month. Market expectation was for the nation’s (BOP basis) trade surplus to fall to ¥56.00 billion.
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