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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI declined in August
In the UK, the services PMI eased to 53.20 in August, compared to a level of 53.80 in the prior month. Markets were anticipating the services PMI to ease to a level of 53.50.
UK official reserves rose in August
Official reserves registered a rise of $1603.00 million, in August, in the UK. Official reserves had climbed $1273.00 million in the previous month.
UK new car registrations dropped in August
In the UK, new car registrations slid 6.40% in August on an annual basis. In the previous month, new car registrations had fallen 9.30%.
Euro-zone services PMI dropped in August
In August, the final services PMI in the Euro-zone dropped to 54.70, compared to market expectations of a fall to 54.90. The preliminary figures had indicated a fall to 54.90. In the prior month, services PMI had registered a reading of 55.40.
Euro-zone retail sales fell as expected in July
On a MoM basis, the seasonally adjusted retail sales in the Euro-zone recorded a drop of 0.30% in July, compared to a revised rise of 0.60% in the prior month. Markets were expecting retail sales to ease 0.30%.
Euro-zone composite PMI remained unchanged in August
In August, the final composite PMI in the Euro-zone remained unchanged at a level of 55.70, compared to market expectations of a rise to 55.80. The preliminary figures had indicated a rise to 55.80.
Euro-zone retail sales rose as expected in July
The seasonally adjusted retail sales climbed 2.60% on a YoY basis in the Euro-zone in July, in line with market expectations. In the previous month, retail sales had advanced by a revised 3.30%.
German services PMI rose in August
The final services PMI recorded a rise to 53.50 in August, in Germany, higher than market expectations of an advance to 53.40. In the prior month, services PMI had registered a reading of 53.10. The preliminary figures had recorded a rise to 53.40.
French services PMI fell in August
In August, the final services PMI in France eased to 54.90, lower than market expectations of a fall to 55.50. Services PMI had registered a level of 56.00 in the prior month. The preliminary figures had indicated a drop to 55.50.
Italian services PMI eased in August
In August, the services PMI eased to 55.10 in Italy, lower than market expectations of a drop to a level of 55.50. In the prior month, the services PMI had registered a level of 56.30.
Spanish services PMI eased in August
In Spain, the services PMI eased to 56.00 in August, compared to market expectations of a fall to 57.00. In the prior month, the services PMI had recorded a reading of 57.60.
Swiss CPI rose as expected in August
On a YoY basis, in August, the consumer price index (CPI) registered a rise of 0.50% in Switzerland, in line with market expectations. The CPI had climbed 0.30% in the previous month.
Swiss GDP advanced less than expected in 2Q 2017
In 2Q 2017, the seasonally adjusted gross domestic product (GDP) in Switzerland climbed 0.30% on a quarterly basis, less than market expectations for an advance of 0.50%. In the prior quarter, GDP had recorded a revised rise of 0.10%.
Swiss GDP advanced less than expected in 2Q 2017
In Switzerland, GDP rose 0.30% on a YoY basis in 2Q 2017, lower than market expectations for an advance of 1.00%. In the previous quarter, GDP had registered a revised rise of 0.60%.
Swiss EU HICP climbed in August
The EU harmonised consumer price index (HICP) recorded a rise of 0.50% in Switzerland on a YoY basis, in August. In the previous month, the EU HICP had risen 0.60%.
Swiss EU HICP dropped in August
In Switzerland, the EU HICP slid 0.10% in August on a monthly basis. The EU HICP had risen 0.10% in the prior month.
Swiss CPI remained flat in August
On a MoM basis in August, the CPI remained unchanged in Switzerland, compared to a drop of 0.30% in the prior month. Market expectation was for the CPI to record an unchanged reading.
Fed’s Brainard signalled caution on US inflation, rate hikes
Federal Reserve (Fed) Governor Lael Brainard argued that the central bank needs to pay careful attention to underlying inflation before raising interest rates again, as longer-run price pressure trends in the US appear to be lower. She added that the Fed should go so far as to make clear it is comfortable pushing prices modestly above the 2.0% target. She further suggested that the central bank should follow through on its intentions to begin reducing its $4.5 trillion balance sheet of bonds.
US durable goods orders (ex transportation) rose in July
On a monthly basis, the final durable goods orders (ex transportation) in the US advanced 0.60% in July. Durable goods orders (ex transportation) had recorded a rise of 0.10% in the prior month. The preliminary figures had recorded an advance of 0.50%.
US non-defence capital goods shipments (ex aircraft) rose in July
In the US, the final non-defence capital goods shipments (ex aircraft) climbed 1.20% in July, on a MoM basis. The non-defence capital goods shipments (ex aircraft) had risen by a revised 0.60% in the previous month. The preliminary figures had recorded an advance of 1.00%.
US factory orders fell as expected in July
On a MoM basis, factory orders slid 3.30% in July, in the US, at par with market expectations. In the previous month, factory orders had registered a revised rise of 3.20%.
US non-defence capital goods orders (ex aircraft) rose in July
The final non-defence capital goods orders (ex aircraft) in the US climbed 1.00% in July, on a monthly basis. The non-defence capital goods orders (ex aircraft) had recorded a flat reading in the previous month. The preliminary figures had recorded a rise of 0.40%.
US durable goods orders declined more than expected in July
On a MoM basis, the final durable goods orders recorded a drop of 6.80% in July, in the US, more than market expectations for a fall of 2.90%. In the prior month, durable goods orders had climbed 6.40%. The preliminary figures had also indicated a fall of 6.80%.
Japanese labour cash earnings surprisingly eased in July
In July, on a YoY basis, labour cash earnings in Japan registered an unexpected drop of 0.30%, compared to a drop of 0.40% in the previous month. Market anticipation was for labour cash earnings to advance 0.50%.
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