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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP rose as expected in 2Q 2017
In the UK, the second estimate of gross domestic product (GDP) rose 0.30% on a quarterly basis in 2Q 2017, at par with market expectations. GDP had registered a rise of 0.20% in the previous quarter. The preliminary figures had also indicated a rise of 0.30%.
UK GDP advanced as expected in 2Q 2017
The second estimate of GDP registered a rise of 1.70% on a YoY basis in the UK, in 2Q 2017, compared to an advance of 2.00% in the previous quarter. Market expectation was for GDP to advance 1.70%. The preliminary figures had also recorded an advance of 1.70%.
UK BBA mortgage approvals rose in July
In July, BBA mortgage approvals in the UK climbed to 41.59 K. BBA mortgage approvals had recorded a revised level of 40.39 K in the prior month.
UK total business investment remained unchanged in 2Q 2017
In 2Q 2017, on an annual basis, the preliminary total business investment remained steady in the UK, lower than market expectations for a rise of 0.30%. In the prior quarter, total business investment had advanced 0.70%.
UK exports advanced less than expected in 2Q 2017
In the UK, the preliminary exports recorded a rise of 0.70% on a QoQ basis in 2Q 2017, less than market expectations for an advance of 1.00%. In the prior quarter, exports had recorded a revised drop of 0.70%.
UK total business investment remained flat in 2Q 2017
In 2Q 2017, on a quarterly basis, the preliminary total business investment in the UK remained steady. In the prior quarter, total business investment had climbed 0.60%.
UK index of services advanced more than expected in June
The index of services in the UK climbed 0.40% in June on a MoM basis, higher than market expectations for a rise of 0.20%. In the prior month, the index of services had advanced by a revised 0.30%.
UK index of services rose as expected in June
In June, the index of services rose 0.50% on a monthly basis in the UK, compared to a revised advance of 0.30% in the March-May 2017 period. Markets were anticipating the index of services to climb 0.50%.
UK private consumption advanced less than expected in 2Q 2017
The flash private consumption rose 0.10% on a quarterly basis in the UK, in 2Q 2017, less than market expectations for a rise of 0.30%. Private consumption had risen 0.40% in the prior quarter.
UK government spending rose more than expected in 2Q 2017
In the UK, the preliminary government spending rose 0.60% on a quarterly basis in 2Q 2017, more than market expectations for a rise of 0.30%. In the prior quarter, government spending had registered a rise of 0.70%.
UK gross fixed capital formation unexpectedly advanced in 2Q 2017
In the UK, the flash gross fixed capital formation unexpectedly rose 0.70% on a QoQ basis in 2Q 2017, more than market expectations for a drop of 0.40%. Gross fixed capital formation had risen 1.00% in the prior quarter.
UK imports advanced more than expected in 2Q 2017
The preliminary imports rose 0.70% on a QoQ basis in 2Q 2017, in the UK, compared to a rise of 1.70% in the prior quarter. Market anticipation was for imports to climb 0.50%.
UK CBI distributive trade survey’s retail sales balance dropped in August
In August, the CBI distributive trade survey’s retail sales balance dropped to 10.00% in the UK, compared to market expectations of a drop to 14.00%. In the prior month, the CBI distributive trade survey’s retail sales balance had registered a reading of 22.00%.
French production outlook indicator declined in August
In France, the production outlook indicator dropped to 20.00 in August, compared to a level of 21.00 in the previous month.
French own-company production outlook climbed in August
National Own-company production outlook in France registered a rise to 15.00 in August. Own-company production outlook had registered a revised level of 11.00 in the previous month.
French industrial business climate index unexpectedly rose in August
In France, the industrial business climate index rose unexpectedly to a level of 109.00 in August, compared to market expectations of a steady reading. In the previous month, the industrial business climate index had recorded a reading of 108.00.
Spanish GDP advanced as expected in 2Q 2017
In 2Q 2017, the final GDP advanced 3.10% in Spain on a YoY basis, meeting market expectations. In the previous quarter, GDP had advanced 3.00%. The preliminary figures had also recorded a rise of 3.10%.
Spanish GDP rose as expected in 2Q 2017
In 2Q 2017, the final GDP registered a rise of 0.90% on a QoQ basis in Spain, in line with market expectations. The preliminary figures had also recorded an advance of 0.90%. GDP had risen 0.80% in the prior quarter.
Swiss industrial production advanced in 2Q 2017
Industrial production in Switzerland climbed 2.90% in 2Q 2017 on a YoY basis. In the previous quarter, industrial production had registered a revised drop of 1.00%.
US existing home sales unexpectedly eased in July
In July, existing home sales in the US unexpectedly eased by 1.30%, on MoM basis, to a level of 5.44 million, compared to a revised level of 5.51 million in the prior month. Markets were anticipating existing home sales to rise to 5.55 million.
US Kansas City Fed manufacturing activity index climbed in August
In August, the Kansas City Fed manufacturing activity index in the US rose to a level of 16.00, compared to a reading of 10.00 in the prior month. Markets were anticipating the Kansas City Fed manufacturing activity index to climb to a level of 11.00.
US mortgage foreclosures slid in 2Q 2017
Mortgage foreclosures eased to 1.29% in the US, in 2Q 2017, compared to a reading of 1.39% in the prior quarter.
US initial jobless claims climbed in the last week
In the week ended 19 August 2017, the seasonally adjusted initial jobless claims in the US registered a rise to 234.00 K, lower than market expectations of a rise to 238.00 K. In the previous week, initial jobless claims had recorded a level of 232.00 K.
US continuing jobless claims remained steady in the last week
The seasonally adjusted continuing jobless claims in the US remained steady at a level of 1954.00 K in the week ended 12 August 2017. Markets were anticipating continuing jobless claims to fall to a level of 1950.00 K.
US mortgage delinquencies eased in 2Q 2017
In 2Q 2017, mortgage delinquencies fell to a level of 4.24% in the US. In the previous quarter, mortgage delinquencies had recorded a reading of 4.71%.
Japanese corporate service price index advanced less than expected in July
In July, the corporate service price index advanced 0.60% in Japan on an annual basis, less than market expectations for an advance of 0.80%. The corporate service price index had climbed by a revised 0.70% in the prior month.
Japanese leading economic index advanced in June
In June, the final leading economic index advanced to 105.90 in Japan. In the previous month, the leading economic index had registered a reading of 104.60. The preliminary figures had indicated an advance to 106.30.
Japanese National CPI ex-fresh food advanced as expected in July
In July, National CPI ex-fresh food rose 0.50% in Japan on an annual basis, compared to a rise of 0.40% in the prior month. Markets were anticipating National CPI ex-fresh food to rise 0.50%.
Japanese coincident index climbed in June
The final coincident index climbed to 117.10 in Japan, in June. In the previous month, the coincident index had registered a level of 115.80. The preliminary figures had indicated an advance to 117.20.
Japanese national CPI rose as expected in July
In July, the national consumer price index (CPI) climbed 0.40% on an annual basis in Japan, in line with market expectations. The national CPI had registered a similar rise in the prior month.
Japanese Tokyo CPI rose more than expected in August
On an annual basis in Japan, Tokyo CPI advanced 0.50% in August, higher than market expectations for an advance of 0.30%. In the previous month, Tokyo CPI had advanced 0.10%.
Japanese Tokyo CPI excluding fresh food advanced more than expected in August
In August, Tokyo CPI excluding fresh food rose 0.40% in Japan on an annual basis, compared to a rise of 0.20% in the previous month. Markets were expecting Tokyo CPI excluding fresh food to advance 0.30%
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