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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK NIESR estimated GDP rose less than expected in the May-July 2016 period
NIESR estimated gross domestic product (GDP) registered a rise of 0.30% on a monthly basis in the UK, in the May-July 2016 period, compared to an advance of 0.60% in the April-June 2016 period. Markets were expecting NIESR estimated GDP to climb 0.40%.
UK visible trade deficit expanded in June
Visible trade deficit in the UK widened to £12.41 billion in June, following a revised visible trade deficit of £11.53 billion in the prior month. Markets were anticipating the country’s visible trade deficit to drop to £10.08 billion.
UK manufacturing production declined more than expected in June
In June on a MoM basis, manufacturing production in the UK eased 0.30%, higher than market expectations for a drop of 0.20%. In the prior month, manufacturing production had recorded a revised drop of 0.60%.
UK trade deficit rose in June
Non-EU trade deficit in the UK widened to £4.16 billion in June, compared to market expectations of a trade deficit of £2.57 billion. The UK had registered a revised trade deficit of £3.56 billion in the previous month.
UK total trade deficit rose in June
The UK has posted total trade deficit of £5.08 billion in June, from a revised total trade deficit of £4.23 billion in the previous month. Market expectation was for the nation to register a total trade deficit of £2.55 billion.
UK industrial production advanced as expected in June
On a MoM basis, industrial production recorded a rise of 0.10% in the UK, in June, meeting market expectations. Industrial production had registered a revised drop of 0.60% in the previous month.
German imports advanced more than expected in June
In June, the seasonally adjusted imports in Germany registered a rise of 1.00% on a MoM basis, compared to a revised unchanged reading in the prior month. Market expectation was for imports to advance 0.60%.
German exports advanced less than expected in June
On a MoM basis, the seasonally adjusted exports in Germany advanced 0.30% in June, lower than market expectations for an advance of 1.10%. Exports had dropped by a revised 1.80% in the prior month.
German current account surplus expanded in June
The non-seasonally adjusted current account surplus in Germany expanded to €26.30 billion in June, more than market expectations of a current account surplus of €23.00 billion. Germany had reported a revised current account surplus of €18.40 billion in the prior month.
German trade surplus widened in June
The seasonally adjusted trade surplus in Germany widened to €24.90 billion in June, compared to a trade surplus of €21.00 billion in the previous month. Market expectation was for the nation to register a trade surplus of €23.00 billion.
French budget deficit declined in June
France has reported budget deficit of €61.80 billion in June, following a budget deficit of €65.70 billion in the previous month.
Swiss unemployment rate remained steady in July
In July, the seasonally adjusted unemployment rate remained steady at 3.30% in Switzerland, at par with market expectations.
Swiss unemployment rate remained unchanged in July
In Switzerland, the non-seasonally adjusted unemployment rate remained flat at 3.10% in July. Markets were expecting unemployment rate to record a flat reading.
US Redbook index slid in the last week
On a MoM basis, the seasonally adjusted Redbook index dropped 0.20% in the week ended 05 August 2016, in the US. In the previous week, the Redbook index had dropped 0.60%.
US non-farm business productivity unexpectedly dropped in 2Q 2016
On a QoQ basis, in 2Q 2016, the flash non-farm business productivity unexpectedly fell 0.50% in the US, less than market expectations for an advance of 0.40%. In the prior quarter, the non-farm business productivity had dropped 0.60%.
US unit labor costs in non-farm businesses advanced more than expected in 2Q 2016
On a QoQ basis, the preliminary unit labor costs in non-farm businesses recorded a rise of 2.00% in the US, in 2Q 2016, more than market expectations for an advance of 1.80%. In the prior quarter, the unit labor costs in non-farm businesses had climbed 4.50%.
US economic optimism index climbed in August
In the US, the economic optimism index climbed to 48.40 in August, compared to a level of 45.50 in the prior month. Market anticipation was for the economic optimism index to advance to a level of 47.30.
US wholesale inventories surprisingly rose in June
The seasonally adjusted wholesale inventories in the US registered an unexpected rise of 0.30% on a monthly basis in June, higher than market expectations for a steady reading. The wholesale inventories had recorded a revised rise of 0.20% in the previous month.
US small business optimism index climbed surprisingly in July
In July, the small business optimism index rose unexpectedly to a level of 94.60 in the US, higher than market expectations of an unchanged reading. The small business optimism index had recorded a reading of 94.50 in the previous month.
Canadian housing starts slid in July
In July, the seasonally adjusted housing starts fell to a level of 198.40 K in Canada, compared to a level of 218.30 K in the prior month. Markets were expecting housing starts to drop to 191.00 K.
Japanese housing loans climbed in 2Q 2016
Housing loans climbed 2.40% on a YoY basis, in 2Q 2016, in Japan. In the prior quarter, housing loans had registered a rise of 1.90%.
Japanese machinery orders advanced more than expected in June
Machinery orders registered a rise of 8.30% on a monthly basis in Japan, in June, compared to a drop of 1.40% in the previous month. Market expectation was for machinery orders to advance 3.20%.
Japanese machine tool orders slid in July
The preliminary machine tool orders in Japan recorded a drop of 19.60% on a YoY basis, in July. Machine tool orders had dropped 19.90% in the previous month.
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