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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB left interest rates unchanged, no QE extension announced
The European Central Bank (ECB) left all of the key interest rates and its asset-purchase program unchanged. The main refinancing operations rate was held at 0.00% with the deposit rate at -0.40% and marginal lending facility at 0.25%. All three rates were last cut at the March meeting. There was also no announcement over an extension to the bond buying programme beyond March 2017. Further, the ECB President, Mario Draghi, indicated that interest rates are likely to remain at present levels or lower for an extended period and well past the horizon for its asset purchases.
German labour costs advanced in 2Q 2016
In Germany, the working day adjusted labour costs rose 1.80% in 2Q 2016 on a YoY basis. In the prior quarter, labour costs had climbed by a revised 2.80%.
German labour costs registered a rise in 2Q 2016
In Germany, the seasonally adjusted labour costs rose 0.20% in 2Q 2016 on a QoQ basis. Labour costs had recorded a revised rise of 0.60% in the prior quarter.
French business sentiment index remained steady in August
In August, the business sentiment index in France remained unchanged at a level of 98.00. Markets were anticipating the business sentiment index to remain unchanged.
French non-farm payrolls advanced as expected in 2Q 2016
On a QoQ basis, the final non-farm payrolls in France, rose 0.20% in 2Q 2016, at par with market expectations. In the prior quarter, non-farm payrolls had registered a revised similar rise. The preliminary figures had also recorded an advance of 0.20%.
Spanish housing price index rose in 2Q 2016
In 2Q 2016, on a quarterly basis, the housing price index in Spain recorded a rise of 1.80%. The housing price index had risen by a revised 0.40% in the prior quarter.
US initial jobless claims fell unexpectedly in the last week
In the US, the seasonally adjusted initial jobless claims registered an unexpected drop to 259.00 K in the week ended 03 September 2016, compared to market expectations of a rise to a level of 265.00 K. In the prior week, initial jobless claims had recorded a reading of 263.00 K.
US consumer credit rose more than expected in July
In July, consumer credit recorded a rise of $17.71 billion in the US, higher than market expectations for an advance of $16.00 billion. In the prior month, consumer credit had climbed by a revised $14.53 billion.
US continuing jobless claims fell surprisingly in the last week
In the week ended 27 August 2016, the seasonally adjusted continuing jobless claims in the US registered an unexpected drop to 2144.00 K, compared to a revised reading of 2151.00 K in the prior week. Market anticipation was for continuing jobless claims to record a flat reading.
Canadian new housing price index rose more than expected in July
The new housing price index recorded a rise of 2.80% on a YoY basis in Canada in July, more than market expectations for a rise of 2.50%. In the prior month, the new housing price index had climbed 2.50%.
Canadian building permits advanced less than expected in July
On a MoM basis, in July, building permits rose 0.80% in Canada, lower than market expectations for an advance of 2.90%. In the prior month, building permits had fallen by a revised 5.30%.
Canadian new housing price index rose more than expected in July
The new housing price index in Canada registered a rise of 0.40% in July on a MoM basis, compared to a rise of 0.10% in the previous month. Markets were expecting the new housing price index to rise 0.10%.
Canadian capacity utilisation dropped in 2Q 2016
Capacity utilisation dropped to 80.00% in Canada, in 2Q 2016, higher than market expectations of a drop to a level of 79.60%. In the prior quarter, capacity utilisation had registered a reading of 81.40%.
Japanese money supply M2+CD rose as expected in August
In August, money supply M2+CD rose 3.30% on a YoY basis in Japan, compared to a revised rise of 3.40% in the previous month. Market anticipation was for money supply M2+CD to rise 3.30%.
Japanese Eco Watchers Survey for current situation climbed in August
In August, Eco Watchers Survey for the current situation in Japan climbed to 45.60, higher than market expectations of a rise to a level of 45.50. Eco Watchers Survey for the current situation had recorded a level of 45.10 in the previous month.
Japanese corporate bankruptcies recorded a rise in August
On a YoY basis, corporate bankruptcies in Japan registered a rise of 14.87% in August. In the previous month, corporate bankruptcies had fallen 9.52%.
Japanese Eco Watchers Survey for future outlook recorded an unexpected rise in August
In August, Eco Watchers Survey for the future outlook in Japan rose unexpectedly to a level of 47.40, compared to a reading of 47.10 in the previous month. Markets were expecting Eco Watchers Survey for the future outlook to fall to 46.40.
Japanese M3 money supply rose less than expected in August
M3 money supply in Japan advanced 2.80% on an annual basis in August, lower than market expectations for a rise of 2.90%. In the previous month, M3 money supply had advanced 2.90%.
Chinese PPI fell less than expected in August
In August, the producer price index (PPI) in China eased 0.80% on an annual basis, less than market expectations for a fall of 0.90%. The PPI had dropped 1.70% in the prior month.
Chinese CPI rose less than expected in August
In August, on a YoY basis, the consumer price index (CPI) in China recorded a rise of 1.30%, compared to a rise of 1.80% in the previous month. Market expectation was for the CPI to climb 1.70%.
Chinese CPI recorded a rise in August
In China, the CPI climbed 0.10% on a MoM basis, in August. The consumer price index had advanced 0.20% in the prior month.
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