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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK industrial production surprisingly climbed in July
Industrial production in the UK unexpectedly climbed 0.10% in July on a MoM basis, higher than market expectations for a fall of 0.20%. In the prior month, industrial production had registered a revised unchanged reading.
UK Halifax house price index declined more than expected in August
The Halifax house price index fell 0.20% in the UK on a monthly basis in August, more than market expectations for a fall of 0.10%. The Halifax house price index had fallen by a revised 1.10% in the prior month.
UK manufacturing production rose less than expected in July
In July, on an annual basis, manufacturing production in the UK rose 0.80%, lower than market expectations for an advance of 1.70%. In the prior month, manufacturing production had registered a revised rise of 0.60%.
UK NIESR estimated GDP advanced in the June-August 2016 period
NIESR estimated gross domestic product (GDP) climbed 0.30% on a monthly basis, in the June-August 2016 period, in the UK. NIESR estimated GDP had registered a revised rise of 0.40% in the May-July 2016 period.
UK manufacturing production dropped more than expected in July
In July, manufacturing production in the UK registered a drop of 0.90% on a MoM basis, more than market expectations for a drop of 0.30%. In the previous month, manufacturing production had fallen by a revised 0.20%.
UK industrial production advanced more than expected in July
In July, on an annual basis, industrial production recorded a rise of 2.10% in the UK, compared to a revised rise of 1.40% in the prior month. Market anticipation was for industrial production to advance 1.90%.
UK house price balance climbed surprisingly in August
In August, house price balance climbed unexpectedly to 12.00 in the UK, compared to market expectations of a fall to a level of 2.00. House price balance had registered a level of 5.00 in the previous month.
UK Halifax house price index rose less than expected in the June-August 2016 period
In the June-August 2016 period, the Halifax house price index advanced 6.90% in the UK on an annual basis, compared to a rise of 8.40% in the May-July 2016 period. Markets were expecting the Halifax house price index to climb 7.00%.
German industrial production unexpectedly slid in July
The seasonally adjusted industrial production in Germany unexpectedly dropped 1.50% on a monthly basis in July, lower than market expectations for an advance of 0.10%. In the prior month, industrial production had registered a revised rise of 1.10%.
German industrial production unexpectedly dropped in July
In July, the non-seasonally & working day adjusted industrial production unexpectedly fell 1.20% in Germany on an annual basis, compared to a revised advance of 0.90% in the previous month. Market anticipation was for industrial production to rise 0.20%.
French imports advanced in July
In France, imports advanced to €41.40 billion in July. In the prior month, imports had registered a revised reading of €40.40 billion.
French trade deficit rose in July
France has reported trade deficit of €4.50 billion in July, following a revised trade deficit of €3.45 billion in the previous month. Markets were anticipating the nation to register a trade deficit of €3.60 billion.
French exports remained unchanged in July
Exports remained steady at a level of €36.90 billion in July, in France.
French current account deficit rose in July
In July, current account deficit in France widened to €2.60 billion. France had posted a revised current account deficit of €0.80 billion in the prior month.
Swiss foreign currency reserves recorded a rise in August
Foreign currency reserves in Switzerland recorded a rise to CHF 626.60 billion in August, higher than market expectations of an advance to a level of CHF 621.00 billion. Foreign currency reserves had registered a revised level of CHF 615.60 billion in the previous month.
Fed’s Beige Book: Moderate wage growth seen in coming months
The US Federal Reserve’s Beige Book report indicated that wage pressures in most of the central bank’s 12 districts remained “fairly modest” and were expected to remain so over the coming months. Further, activity in the nation’s manufacturing sector “was flat to slightly up”. Also, the upcoming presidential election is making some firms cautious about expanding business activity.
US Redbook index eased in the last week
The seasonally adjusted Redbook index in the US slid 0.10% in the week ended 02 September 2016 on a MoM basis. The Redbook index had fallen 0.30% in the prior week.
US mortgage applications climbed in the last week
On a weekly basis, mortgage applications rose 0.90% in the US, in the week ended 02 September 2016. In the prior week, mortgage applications had advanced 2.80%.
US JOLTs job openings recorded an unexpected rise in July
JOLTs job openings in the US rose unexpectedly to 5871.00 K in July, compared to a revised level of 5643.00 K in the prior month. Markets were anticipating JOLTs job openings to fall to 5630.00 K.
US Redbook index rose in the last week
On an annual basis, the Redbook index in the US registered a rise of 0.80% in the week ended 02 September 2016. In the previous week, the Redbook index had registered a rise of 0.60%.
BoC kept interest rate unchanged
The Bank of Canada (BoC) opted to keep benchmark interest rate at 0.50%, stating that underlying economic conditions don’t warrant a change in policy at this time. The central bank raised concerns about the disappointing performance of the nation’s export sector during the second quarter. Further, the BoC noted that while Canada’s economy shrank in the second quarter, it expects a substantial rebound during the second half of this year.
Canadian Ivey PMI declined in August
In August, the seasonally adjusted Ivey PMI registered a drop to 52.30 in Canada, compared to market expectations of a fall to 56.50. In the prior month, Ivey PMI had registered a reading of 57.00.
Japanese nominal GDP advanced more than expected in 2Q 2016
On a quarterly basis in Japan, the final nominal GDP climbed 0.30% in 2Q 2016, compared to a revised advance of 0.80% in the prior quarter. Markets were anticipating nominal GDP to rise 0.20%. The preliminary figures had recorded an advance of 0.20%.
Japanese bank lending including trusts advanced in August
Bank lending including trusts registered a rise of 2.00% in Japan on an annual basis, in August. In the prior month, bank lending including trusts had advanced 2.10%.
Japanese investors turned net sellers of foreign bonds in the previous week
Japanese investors turned net sellers of ¥1326.40 billion worth of foreign bonds in the week ended 02 September 2016, from being net buyers of a revised ¥107.70 billion worth of foreign bonds in the prior week.
Japanese average office vacancies in Tokyo recorded a rise in August
Average office vacancies in Tokyo in Japan advanced 3.90% on a MoM basis, in August. Average office vacancies in Tokyo had recorded a rise of 3.94% in the prior month.
Japanese adjusted (total) current account surplus slid in July
Adjusted (total) current account surplus in Japan dropped to ¥1447.80 billion in July, from an adjusted (total) current account surplus of ¥1648.40 billion in the prior month. Markets were expecting the nation to register an adjusted (total) current account surplus of ¥1573.70 billion.
Foreign investors turned net buyers of Japanese stocks in the previous week
Foreign investors turned net buyers of ¥1.90 billion worth of Japanese stocks in the week ended 02 September 2016, as compared to being net sellers of a revised ¥15.50 billion worth of Japanese stocks in the prior week.
Japanese GDP climbed surprisingly in 2Q 2016
In 2Q 2016, on a QoQ basis, the final GDP unexpectedly advanced 0.20% in Japan, more than market expectations for an unchanged reading. The preliminary figures had indicated an unchanged reading. In the previous quarter, GDP had climbed 0.50%.
Japanese annualised GDP advanced more than expected in 2Q 2016
In 2Q 2016, on a QoQ basis, the final annualised GDP in Japan registered a rise of 0.70%, higher than market expectations for an advance of 0.20%. In the previous quarter, annualised GDP had recorded a revised rise of 2.00%. The preliminary figures had indicated an advance of 0.20%.
Japanese coincident index recorded a rise in July
The flash coincident index in Japan advanced to 112.80 in July, higher than market expectations of a rise to a level of 111.60. In the prior month, the coincident index had recorded a reading of 111.10.
Japanese investors became net buyers of foreign stocks in the previous week
Japanese investors remained net buyers of ¥76.60 billion worth of foreign stocks in the week ended 02 September 2016, from being net buyers of a revised ¥380.30 billion worth of foreign stocks in the previous week.
Japanese (BOP basis) trade surplus declined in July
In July, (BOP basis) trade surplus in Japan fell to ¥613.90 billion, more than market expectations of a (BOP basis) trade surplus of ¥571.20 billion. Japan had reported a (BOP basis) trade surplus of ¥763.60 billion in the previous month.
Foreign investors became net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥666.90 billion worth of Japanese bonds in the week ended 02 September 2016, as compared to being net buyers of ¥268.70 billion worth of Japanese bonds in the previous week.
Japanese bank lending ex-trust rose as expected in August
Bank lending ex-trust in Japan advanced 2.00% on an annual basis in August, meeting market expectations. In the previous month, bank lending ex-trust had climbed 2.10%.
Japanese current account surplus widened in July
The non-seasonally adjusted current account surplus in Japan rose to ¥1938.20 billion in July, compared to market expectations of a current account surplus of ¥2073.30 billion. Japan had reported a current account surplus of ¥974.40 billion in the prior month.
Japanese GDP deflator advanced less than expected in 2Q 2016
In Japan, the final GDP deflator rose 0.70% on an annual basis in 2Q 2016, less than market expectations for an advance of 0.80%. In the prior quarter, the GDP deflator had recorded a rise of 0.90%. The preliminary figures had recorded an advance of 0.80%.
Japanese leading economic index rose surprisingly in July
The flash leading economic index climbed unexpectedly to 100.00 in July, in Japan, higher than market expectations of a drop to 98.60. The leading economic index had registered a level of 99.20 in the previous month.
Chinese exports declined less than expected in August
In China, exports recorded a drop of 2.80% in August, on a YoY basis, lower than market expectations for a fall of 4.00%. In the previous month, exports had registered a drop of 4.40%.
Chinese imports climbed unexpectedly in August
In China, imports unexpectedly rose 1.50% on a YoY basis in August, more than market expectations for a drop of 5.40%. Imports had fallen 12.50% in the previous month.
Chinese trade surplus registered a drop in August
China has posted trade surplus of $52.05 billion in August, compared to a trade surplus of $52.31 billion in the prior month. Markets were expecting a trade surplus of $58.85 billion.
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