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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI recorded a rise in August
The construction PMI in the UK advanced to 49.20 in August, compared to a reading of 45.90 in the previous month. Market expectation was for the construction PMI to climb to 46.30.
Euro-zone PPI rose as expected in July
In July, the producer price index (PPI) in the Eurozone, registered a rise of 0.10% on a monthly basis, in line with market expectations. The PPI had advanced by a revised 0.80% in the previous month.
Italian GDP remained steady in 2Q 2016
On a QoQ basis, the final gross domestic product (GDP) remained steady in 2Q 2016, in Italy, compared to a rise of 0.30% in the prior quarter. The preliminary figures had also recorded a flat reading. Markets were anticipating the GDP to remain unchanged.
Number of people unemployed in Spain recorded a rise in August
In Spain, number of people unemployed rose by 14.40 K in August, following a decline of 84.00 K in the prior month. Market anticipation was for number of people unemployed to advance 3.40 K.
Non-farm payrolls in the US advanced in August
In the US, non-farm payrolls climbed by 151.00 K in August, following a revised increase of 275.00 K in the previous month. Markets were anticipating non-farm payrolls to rise 180.00 K.
US average hourly earnings of all employees rose less than expected in August
In August, average hourly earnings of all employees climbed 0.10% in the US on a MoM basis, less than market expectations for a rise of 0.20%. Average hourly earnings of all employees had registered a rise of 0.30% in the prior month.
US non-defence capital goods shipments (ex aircraft) fell in July
On a MoM basis, the final non-defence capital goods shipments (ex aircraft) slid 0.50% in the US, in July. In the previous month, the non-defence capital goods shipments (ex aircraft) had registered a revised similar fall. The preliminary figures had recorded a fall of 0.40%.
US unemployment rate remained steady in August
Unemployment rate remained flat at 4.90% in the US, in August. Markets were anticipating unemployment rate to fall to 4.80%.
US underemployment rate remained unchanged in August
Underemployment rate remained flat at a level of 9.70% in the US, in August.
US New York City current business condition index slid in August
The New York City current business condition index dropped to 47.50 in August, in the US. The New York City current business condition index had recorded a reading of 60.70 in the prior month.
US average weekly hours of all employees fell surprisingly in August
In August, average weekly hours of all employees dropped unexpectedly to a level of 34.30 in the US, compared to market expectations of an advance to a level of 34.50. Average weekly hours of all employees had registered a revised reading of 34.40 in the previous month.
Private payrolls in the US climbed in August
Private payrolls in the US climbed by 126.00 K in August, lower than market expectations of an advance of 180.00 K. Private payrolls had recorded a revised gain of 225.00 K in the prior month.
US average hourly earnings of all employees rose less than expected in August
In August, average hourly earnings of all employees climbed 2.40% in the US on a YoY basis, less than market expectations for a rise of 2.50%. In the previous month, average hourly earnings of all employees had recorded a revised rise of 2.70%.
Manufacturing payrolls in the US recorded a drop in August
In the US, manufacturing payrolls fell by 14.00 K in August, compared to market anticipations of a decline of 3.00 K. Manufacturing payrolls had registered a revised increase of 6.00 K in the prior month.
US durable goods orders (ex transportation) rose less than expected in July
On a MoM basis, the final durable goods orders (ex transportation) in the US registered a rise of 1.30% in July, less than market expectations for a rise of 1.50%. Durable goods orders (ex transportation) had dropped by a revised 0.30% in the previous month. The preliminary figures had recorded a rise of 1.50%.
US trade deficit dropped in July
Trade deficit in the US dropped to $39.50 billion in July, less than market expectations of a trade deficit of $41.40 billion. The US had reported a revised trade deficit of $44.70 billion in the previous month.
US factory orders rose less than expected in July
In July, factory orders advanced 1.90% on a MoM basis in the US, compared to a revised fall of 1.80% in the prior month. Markets were anticipating factory orders to climb 2.00%.
Household employment in the US recorded an increase in August
Household employment registered a rise of 97.00 K in the US, in August. Household employment had recorded a gain of 420.00 K in the previous month.
US durable goods orders rose as expected in July
On a MoM basis, the final durable goods orders recorded a rise of 4.40% in the US, in July, compared to a revised drop of 4.20% in the prior month. Market expectation was for durable goods orders to advance 4.40%. The preliminary figures had also indicated a rise of 4.40%.
US non-defence capital goods orders (ex aircraft) registered a rise in July
On a monthly basis, the final non-defence capital goods orders (ex aircraft) recorded a rise of 1.50% in July, in the US. The non-defence capital goods orders (ex aircraft) had climbed by a revised 0.50% in the previous month. The preliminary figures had recorded a rise of 1.60%.
Canadian international merchandise trade deficit declined in July
Canada has posted the international merchandise trade deficit of C$2.49 billion in July, following a revised international merchandise trade deficit of C$3.97 billion in the previous month. Market anticipation was for the nation to register an international merchandise trade deficit of C$3.30 billion.
Canadian labour productivity fell less than expected in 2Q 2016
On a quarterly basis, labour productivity registered a drop of 0.30% in Canada, in 2Q 2016, lower than market expectations for a drop of 0.40%. Labour productivity had climbed 0.40% in the prior quarter.
Japanese labour cash earnings advanced more than expected in July
In Japan, labour cash earnings registered a rise of 1.40% in July on a YoY basis, more than market expectations for a rise of 0.40%. Labour cash earnings had registered a revised similar rise in the previous month.
Japanese Markit composite PMI slid in August
Compared to a reading of 50.10 in the prior month Markit composite PMI in Japan fell to a level of 49.80 in August.
Japanese consumer confidence index recorded a rise in August
The consumer confidence index in Japan climbed to 42.00 in August, compared to market expectations of a rise to a level of 41.80. In the prior month, the consumer confidence index had registered a reading of 41.30.
Chinese Caixin/Markit services PMI index rose in August
In August, the Caixin/Markit services PMI index in China recorded a rise to 52.10, compared to a reading of 51.70 in the prior month.
Chinese Caixin composite PMI fell in August
Caixin composite PMI in China eased to 51.80 in August. In the prior month, Caixin composite PMI had recorded a level of 51.90.
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