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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK visible trade deficit dropped in July
Visible trade deficit in the UK dropped to £11.76 billion in July, more than market expectations of a visible trade deficit of £11.65 billion. The UK had posted a revised visible trade deficit of £12.92 billion in the previous month.
UK construction output fell less than expected in July
In July, on an annual basis, construction output dropped 1.50% in the UK, compared to a revised drop of 0.70% in the previous month. Market expectation was for construction output to fall 3.40%.
UK total trade deficit slid in July
In July, total trade deficit in the UK narrowed to £4.50 billion, more than market expectations of a total trade deficit of £4.20 billion. The UK had posted a revised total trade deficit of £5.57 billion in the prior month.
UK trade deficit dropped in July
Non-EU trade deficit in the UK dropped to £4.19 billion in July, from a revised trade deficit of £4.70 billion in the previous month. Markets were expecting the nation’s trade deficit to fall to £3.60 billion.
German trade surplus dropped in July
The seasonally adjusted trade surplus in Germany fell to €19.50 billion in July, following a revised trade surplus of €24.70 billion in the prior month. Markets were anticipating the nation to record a trade surplus of €23.70 billion.
German exports surprisingly dropped in July
In July, on a monthly basis, the seasonally adjusted exports recorded an unexpected drop of 2.60% in Germany, less than market expectations for a rise of 0.40%. In the previous month, exports had recorded a revised rise of 0.20%.
German imports unexpectedly slid in July
In July, the seasonally adjusted imports registered an unexpected drop of 0.70% on a monthly basis in Germany, lower than market expectations for a rise of 0.50%. Imports had advanced by a revised 1.10% in the previous month.
German current account surplus slid in July
Germany has reported the non-seasonally adjusted current account surplus of €18.60 billion in July, compared to a current account surplus of €26.30 billion in the previous month. Markets were expecting a current account surplus of €24.50 billion.
French budget deficit rose in July
Budget deficit in France rose to €80.80 billion in July. France had reported a budget deficit of €61.80 billion in the previous month.
French industrial production unexpectedly fell in July
In July, on a monthly basis, industrial production recorded an unexpected drop of 0.60% in France, compared to a revised fall of 0.70% in the previous month. Markets were anticipating industrial production to rise 0.30%.
French manufacturing production unexpectedly slid in July
Manufacturing production registered an unexpected drop of 0.30% on a monthly basis in France, in July, lower than market expectations for a rise of 0.70%. In the previous month, manufacturing production had registered a revised drop of 1.10%.
Spanish calendar adjusted industrial output advanced less than expected in July
In July, on a YoY basis, the calendar adjusted industrial output recorded a rise of 0.30% in Spain, compared to an advance of 0.80% in the prior month. Market anticipation was for the calendar adjusted industrial output to rise 0.40%.
Swiss unemployment rate climbed in August
In August, the non-seasonally adjusted unemployment rate rose to a level of 3.20% in Switzerland, meeting market expectations. Unemployment rate had recorded a reading of 3.10% in the prior month.
Swiss unemployment rate climbed surprisingly in August
The seasonally adjusted unemployment rate recorded an unexpected rise to 3.40% in August, in Switzerland, higher than market expectations of a steady reading. In the previous month, unemployment rate had recorded a level of 3.30%.
Fed’s Rosengren: ‘Gradual Tightening’ will prolong recovery
The Federal Reserve Bank (Fed) of Boston President, Eric Rosengren, backed gradual interest rate hikes to avoid overheating the US economy. He added that failure to do so could shorten, rather than lengthen, the duration of the nation’s recovery. However, he refrained from discussing exactly when he thought the Fed should move.
US wholesale inventories remained steady in August
On a MoM basis, the seasonally adjusted wholesale inventories remained steady in the US, in August, less than market expectations for an advance of 0.10%. The wholesale inventories had registered a flat reading in the prior month.
Net number of people employed in Canada recorded an increase in August
The net number of people employed advanced by 26.20 K in Canada, in August, following a loss of 31.20 K in the prior month. Market anticipation was for the net number of people employed to advance 14.00 K.
Part time employment in Canada slid in August
In Canada, part time employment recorded a drop of 26.00 K in August, compared to an advance of 40.20 K in the previous month.
Canadian participation rate climbed in August
The participation rate in Canada recorded a rise to 65.50% in August, compared to a reading of 65.40% in the prior month.
Canadian unemployment rate climbed in August
In August, the unemployment rate in Canada advanced to 7.00%, in line with market expectations. In the previous month, the unemployment rate had registered a reading of 6.90%.
Canadian housing starts fell in August
In Canada, the seasonally adjusted housing starts registered a drop to 182.70 K in August, compared to market expectations of a drop to 190.00 K. In the prior month, housing starts had registered a revised level of 194.70 K.
Number of full time employment in Canada recorded an increase in August
In Canada, the number of full time employment registered a rise of 52.20 K in August. The number of full time employment had recorded a decline of 71.40 K in the previous month.
Japanese machinery orders surprisingly climbed in July
On a monthly basis, machinery orders unexpectedly climbed 4.90% in Japan, in July, more than market expectations for a drop of 3.00%. In the prior month, machinery orders had recorded a rise of 8.30%.
Japanese tertiary industry index rose less than expected in July
On a monthly basis, the tertiary industry index in Japan registered a rise of 0.30% in July, compared to a revised advance of 0.70% in the previous month. Market anticipation was for the tertiary industry index to rise 0.40%.
Japanese domestic corporate goods price index dropped more than expected in August
In August, the domestic corporate goods price index recorded a drop of 0.30% in Japan on a monthly basis, compared to an unchanged reading in the previous month. Market expectation was for the domestic corporate goods price index to drop 0.10%.
Japanese machinery orders rose more than expected in July
Machinery orders rose 5.20% on an annual basis in July, in Japan, compared to a drop of 0.90% in the prior month. Markets were anticipating machinery orders to advance 0.30%.
Japanese domestic corporate goods price index fell more than expected in August
On a YoY basis, the domestic corporate goods price index fell 3.60% in August, in Japan, higher than market expectations for a drop of 3.40%. The domestic corporate goods price index had registered a drop of 3.90% in the previous month.
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