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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 June
In June, on a MoM basis, retail sales recorded a rise of 0.60% in the UK, more than market expectations for an advance of 0.40%. Retail sales had registered a revised drop of 1.10% in the previous month.
UK retail sales rose more than expected in June
Retail sales climbed 2.90% in the UK on an annual basis in June, more than market expectations for a rise of 2.60%. In the prior month, retail sales had climbed 0.90%.
UK retail sales ex-fuel advanced more than expected in June
Retail sales ex-fuel in the UK recorded a rise of 0.90% on a monthly basis in June, more than market expectations for an advance of 0.50%. In the prior month, retail sales ex-fuel had registered a revised drop of 1.50%.
ECB left policy on hold, stays ‘patient’ on stimulus exit
The European Central Bank (ECB) left monetary policy unchanged at its latest meeting. The ECB President Mario Draghi stated that if financial conditions in the Euro-zone become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the programme in terms of size and/or duration. He further added that underlying inflation is likely to rise in the coming months, albeit gradually and indicated that the ECB members would debate bond purchases at its September meeting.
Euro-zone current account surplus expanded in May
The seasonally adjusted current account surplus in the Euro-zone rose to €30.10 billion in May, from a revised current account surplus of €23.50 billion in the prior month.
Euro-zone consumer confidence index surprisingly dropped in July
In July, the flash consumer confidence index in the Euro-zone dropped unexpectedly to -1.70, compared to market expectations of an advance to a level of -1.20. In the previous month, the consumer confidence index had recorded a level of -1.30.
Euro-zone current account surplus declined in May
The non-seasonally adjusted current account surplus in the Euro-zone dropped to €18.30 billion in May. The Euro-zone had registered a revised current account surplus of €22.80 billion in the previous month.
German PPI remained flat in June
On a monthly basis, the producer price index (PPI) remained unchanged in Germany, in June, higher than market expectations for a fall of 0.10%. The PPI had dropped 0.20% in the previous month.
German PPI advanced more than expected in June
On a YoY basis, the PPI rose 2.40% in Germany, in June, compared to a rise of 2.80% in the prior month. Markets were expecting the PPI to rise 2.30%.
Italian current account surplus slid in May
Current account surplus in Italy dropped to €3.26 billion in May. Italy had registered a current account surplus of €3.43 billion in the previous month.
Swiss trade surplus fell in June
Trade surplus in Switzerland narrowed to CHF 2.81 billion in June, following a revised trade surplus of CHF 3.39 billion in the previous month.
Swiss exports eased in June
On a MoM basis, exports eased 1.90% in June, in Switzerland. In the previous month, exports had advanced by a revised 3.70%.
Swiss imports dropped in June
Imports in Switzerland eased 0.50% in June on a MoM basis. In the prior month, imports had recorded a revised rise of 1.40%.
US leading indicator advanced more than expected in June
In June, leading indicator recorded a rise of 0.60% on a monthly basis in the US, higher than market expectations for an advance of 0.40%. In the previous month, leading indicator had registered a rise of 0.30%.
US initial jobless claims dropped in the last week
In the US, the seasonally adjusted initial jobless claims recorded a drop to 233.00 K in the week ended 15 July 2017, compared to market expectations of a drop to 245.00 K. In the prior week, initial jobless claims had recorded a revised reading of 248.00 K.
US Philadelphia Fed manufacturing index declined in July
Philadelphia Fed manufacturing index in the US registered a drop to 19.50 in July, compared to market expectations of a drop to a level of 23.00. Philadelphia Fed manufacturing index had recorded a level of 27.60 in the prior month.
US continuing jobless claims unexpectedly advanced in the last week
The seasonally adjusted continuing jobless claims in the US climbed unexpectedly to a level of 1977.00 K in the week ended 08 July 2017, higher than market expectations of a steady reading. In the prior week, continuing jobless claims had recorded a revised reading of 1949.00 K.
Foreign investors turned net buyers of Japanese bonds in the previous week
Foreign investors turned net buyers of ¥413.70 billion worth of Japanese bonds in the week ended 14 July 2017, as compared to being net sellers of a revised ¥413.40 billion worth of Japanese bonds in the previous week.
Japanese all industry activity index dropped more than expected in May
In May, the all industry activity index eased 0.90% on a monthly basis in Japan, compared to a revised advance of 2.30% in the previous month. Market anticipation was for the all industry activity index to ease 0.80%.
Japanese investors remained net buyers of foreign bonds in the previous week
Japanese investors were net buyers of ¥947.80 billion worth of foreign bonds in the week ended 14 July 2017, as compared to being net buyers of a revised ¥805.80 billion worth of foreign bonds in the prior week.
Foreign investors turned net buyers of Japanese stocks in the previous week
Foreign investors turned net buyers of ¥341.00 billion worth of Japanese stocks in the week ended 14 July 2017, as compared to being net sellers of a revised ¥35.20 billion worth of Japanese stocks in the previous week.
Japanese convenience store sales declined in June
In Japan, convenience store sales dropped 0.10% in June on a YoY basis. Convenience store sales had climbed 1.00% in the previous month.
Japanese investors became net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥438.60 billion worth of foreign stocks in the week ended 14 July 2017, as compared to being net buyers of a revised ¥325.30 billion worth of foreign stocks in the prior week.
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