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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales advanced more than expected in July
On an annual basis, in July, retail sales climbed 5.90% in the UK, compared to an advance of 4.30% in the prior month. Markets were expecting retail sales to rise 4.20%.
UK retail sales rose more than expected in July
In July, retail sales in the UK recorded a rise of 1.40% on a MoM basis, more than market expectations for an advance of 0.10%. In the prior month, retail sales had registered a drop of 0.90%.
ECB Minutes: Council Waiting for Further Information
The European Central Bank’s (ECB) minutes from its July meeting revealed that policy makers acknowledged the fact that Britain’s vote to leave the European Union created fresh headwinds for the Eurozone and the world economy. However, they felt that it was too premature to discuss new policy measures, as they wanted to wait until the extent of the economic disruption from the Brexit vote to became clearer.
Eurozone consumer price index dropped more than expected in July
In July, the consumer price index fell 0.60% on a MoM basis in the Eurozone, higher than market expectations for a drop of 0.50%. In the previous month, the consumer price index had advanced 0.20%.
Eurozone core consumer price index rose as expected in July
In July, on an annual basis, the final core consumer price index in the Eurozone climbed 0.90%, compared to a similar rise in the previous month. Markets were expecting the core consumer price index to rise 0.90%. The preliminary figures had also recorded an advance of 0.90%.
Eurozone construction output remained unchanged in June
The seasonally adjusted construction output remained unchanged on a MoM basis, in June, in the Eurozone. In the previous month, construction output had recorded a revised unchanged reading.
Eurozone consumer price index advanced as expected in July
In the Eurozone, the final consumer price index registered a rise of 0.20% on an annual basis in July, meeting market expectations. The consumer price index had risen 0.10% in the previous month. The preliminary figures had recorded a rise of 0.10%.
Eurozone current account surplus narrowed in June
The seasonally adjusted current account surplus in the Eurozone fell to €28.20 billion in June, compared to a revised current account surplus of €EUR 31.80 billion in the prior month.
Eurozone current account surplus expanded in June
The European Central Bank has reported that the Eurozone has reported the non-seasonally adjusted current account surplus of €37.60 billion in June, following a revised current account surplus of €16.50 billion in the previous month.
French ILO unemployment rate declined in 2Q 2016
In 2Q 2016, ILO unemployment rate eased to 9.90% in France, compared to market expectations of a fall to 10.10%. In the previous quarter, ILO unemployment rate had recorded a level of 10.20%.
Italy posted current account deficit in June
Current account deficit in Italy recorded a level of €7.18 billion in June, from a current account surplus of €3.19 billion in the previous month.
US initial jobless claims slid in the last week
Compared to a level of 266.00 K in the previous week the seasonally adjusted initial jobless claims dropped to 262.00 K in the US, in the week ended 13 August 2016. Market expectation was for initial jobless claims to fall to a level of 265.00 K.
US continuing jobless claims registered an unexpected rise in the last week
Compared to a revised level of 2160.00 K in the previous week the seasonally adjusted continuing jobless claims recorded an unexpected rise to a level of 2175.00 K in the US, in the week ended 06 August 2016. Market anticipation was for continuing jobless claims to fall to a level of 2145.00 K.
US Philadelphia Fed manufacturing index advanced in August
Philadelphia Fed manufacturing index advanced to 2.00 in the US, in August, in line with market expectations. Philadelphia Fed manufacturing index had registered a level of -2.90 in the previous month.
US leading indicator rose more than expected in July
Leading indicator registered a rise of 0.40% on a MoM basis in July, in the US, compared to an advance of 0.30% in the previous month. Markets were expecting leading indicator to climb 0.30%.
Foreign investors became net buyers of Canadian securities in the previous month
Foreign investors were net buyers of C$9.02 billion worth of Canadian securities in June, as compared to being net buyers of a revised C$13.99 billion worth of Canadian securities in the previous month.
Canadian investors became net buyers of foreign securities in the previous month
Canadian investors remained net buyers of C$4.15 billion worth of foreign securities in June, as compared to being net buyers of C$5.05 billion worth of foreign securities in the previous month.
Japanese machine tool orders eased in July
The final machine tool orders eased 19.70% on a YoY basis, in July, in Japan. Machine tool orders had recorded a drop of 19.90% in the prior month. The preliminary figures had indicated a drop of 19.60%.
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