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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector net borrowing posted a deficit in August
In the UK, the public sector net borrowing has reported a deficit £10.10 billion in August, following a revised surplus of £2.40 billion in the previous month. Markets were expecting public sector net borrowing to post a deficit of £10.30 billion.
UK public sector net borrowing reported a deficit in August
The public sector net borrowing (excluding temporary effects of financial interventions) has posted a deficit £10.50 billion in August, in the UK, following a revised surplus of £1.90 billion in the prior month. Market expectation was for public sector net borrowing to show a deficit of £10.20 billion.
UK public sector net cash requirement posted a deficit in August
Public finances (public sector net cash requirement) in the UK has posted a deficit £0.70 billion in August, from a revised surplus of £2.40 billion in the prior month.
Swiss M3 money supply advanced in August
M3 money supply in Switzerland advanced 2.80% in August on a YoY basis. M3 money supply had recorded a revised rise of 2.60% in the prior month.
Fed stood pat on interest rate
The Federal Open Market Committee (FOMC), after its two-day policy meeting, voted to hold the federal funds rate steady between 0.25% and 0.50%. The central bank strongly signalled that it could tighten monetary policy by the end of this year as the US labour market improved further. The Fed Chairwoman, Janet Yellen, speaking after the central bank’s latest policy statement, indicated that US economic growth looks stronger and rate increases would be needed to keep the economy from overheating and fuelling high inflation. Further, the Fed cut its longer-run interest rate forecast to 2.9% from 3.0%.
US mortgage applications declined in the last week
Mortgage applications registered a drop of 7.30% in the US on a weekly basis, in the week ended 16 September 2016. Mortgage applications had registered a rise of 4.20% in the previous week.
Canadian wholesale sales advanced as expected in July
In Canada, wholesale sales recorded a rise of 0.30% in July on a monthly basis, in line with market expectations. Wholesale sales had advanced 0.70% in the previous month.
Japanese machine tool orders fell in August
The final machine tool orders recorded a drop of 8.40% on an annual basis in Japan, in August. Machine tool orders had dropped 19.70% in the prior month. The preliminary figures had also recorded a drop of 8.40%.
Japanese nationwide department store sales declined in August
In August, on a YoY basis, nationwide department store sales in Japan registered a drop of 6.00%. Nationwide department store sales had recorded a drop of 0.10% in the prior month.
Japanese Tokyo department store sales dropped in August
Tokyo department store sales in Japan dropped 5.90% on a YoY basis, in August. Tokyo department store sales had climbed 0.60% in the previous month.
Japanese supermarket sales declined in August
On a YoY basis, supermarket sales slid 2.90% in August, in Japan. Supermarket sales had advanced 0.20% in the prior month.
Chinese leading economic index rose in August
On a monthly basis, the leading economic index in China rose 0.90% in August. The leading economic index had advanced 0.70% in the previous month.
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