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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone construction output dropped in May
On a monthly basis, the seasonally adjusted construction output in the Euro-zone slid 0.70% in May. In the previous month, construction output had recorded a rise of 0.30%.
US housing starts rose in June
Compared to a revised level of 1122.00 K in the previous month, housing starts rose 8.30%, on MoM basis, to an annual rate of 1215.00 K in the US, in June. Markets were anticipating housing starts to climb to 1160.00 K.
US mortgage applications climbed in the last week
In the week ended 14 July 2017, on a weekly basis, mortgage applications advanced 6.30% in the US. Mortgage applications had dropped 7.40% in the prior week.
US building permits advanced in June
Building permits in the US climbed 7.40%, on MoM basis, to an annual rate of 1254.00 K in June, higher than market expectations of 1201.00 K. Building permits had recorded a reading of 1168.00 K in the previous month.
Canadian manufacturing shipments rose more than expected in May
In May, on a MoM basis, manufacturing shipments climbed 1.10% in Canada, more than market expectations for a rise of 0.80%. Manufacturing shipments had advanced by a revised 0.40% in the previous month.
BoJ kept monetary policy steady, pushed back inflation target timeframe
The Bank of Japan (BoJ) kept monetary policy unchanged, as widely expected. However, in a quarterly review of its long-term projections, the central bank cut its inflation forecast for the current fiscal year ending in March 2018 to 1.10% from 1.40% projected three months ago. Further, the central bank pushed back the timing for achieving its 2.00% inflation target, stating that it would be met sometime during fiscal 2019. In April, it had projected inflation would hit 2.00% in fiscal 2018.
Japan posted merchandise (total) trade surplus in June
Japan has reported merchandise (total) trade surplus of ¥439.90 billion in June, compared to a merchandise (total) trade deficit of ¥203.40 billion in the prior month. Markets were expecting a merchandise (total) trade surplus of ¥488.00 billion.
Japanese adjusted merchandise trade surplus fell in June
Adjusted merchandise trade surplus in Japan fell to ¥81.40 billion in June, compared to a revised adjusted merchandise trade surplus of ¥122.70 billion in the prior month. Market expectation was for the nation to record a adjusted merchandise trade surplus of ¥127.50 billion.
Japanese exports advanced more than expected in June
Exports recorded a rise of 9.70% in Japan on a YoY basis in June, more than market expectations for a rise of 9.50%. Exports had advanced 14.90% in the prior month.
Japanese imports advanced more than expected in June
On an annual basis, imports climbed 15.50% in Japan, in June, higher than market expectations for an advance of 14.40%. Imports had recorded a rise of 17.80% in the previous month.
Japanese machine tool orders climbed in June
The final machine tool orders recorded a rise of 31.10% in Japan on a YoY basis, in June. Machine tool orders had advanced 24.50% in the prior month. The preliminary figures had also recorded an advance of 31.10%.
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