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Guardian Stockbrokers Key Economic News Thursday 10 August 2017

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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UK house price balance surprisingly fell in July

Compared to a level of 7.00% in the prior month house price balance dropped unexpectedly to a level of 1.00% in the UK, in July. Markets were expecting house price balance to climb to a level of 9.00%.

French business sentiment index unexpectedly rose in July

Compared to a reading of 103.00 in the prior month the business sentiment index registered an unexpected rise to a level of 105.00 in July, in France. Markets were anticipating the business sentiment index to record a steady reading.

Italian industrial production advanced more than expected in June

The seasonally adjusted industrial production rose 1.10% on a MoM basis in Italy in June, higher than market expectations for an advance of 0.20%. In the previous month, industrial production had recorded a rise of 0.70%.

Italian industrial production rose more than expected in June

On a YoY basis in Italy, the working day adjusted industrial production climbed 5.30% in June, higher than market expectations for a rise of 3.50%. In the previous month, industrial production had registered a revised rise of 2.70%.

Italian industrial production rose more than expected in June

The non-seasonally adjusted industrial production registered a rise of 5.40% on a YoY basis in Italy, in June, compared to a revised advance of 2.70% in the prior month. Market anticipation was for industrial production to rise 3.40%.

US wholesale inventories advanced more than expected in June

On a monthly basis, the seasonally adjusted final wholesale inventories advanced 0.70% in June, in the US, higher than market expectations for an advance of 0.60%. In the previous month, the wholesale inventories had advanced 0.40%. The preliminary figures had indicated a rise of 0.60%.

US unit labour costs in non-farm businesses rose less than expected in 2Q 2017

On a QoQ basis, in the US, the preliminary unit labour costs in non-farm businesses recorded a rise of 0.60% in 2Q 2017, lower than market expectations for a rise of 1.10%. In the prior quarter, the unit labour costs in non-farm businesses had registered a rise of 2.20%.

US non-farm business productivity rose more than expected in 2Q 2017

In 2Q 2017, the flash non-farm business productivity climbed 0.90% in the US on a QoQ basis, higher than market expectations for an advance of 0.70%. In the previous quarter, the non-farm business productivity had registered an unchanged reading.

US mortgage applications rose in the last week

On a weekly basis, mortgage applications rose 3.00% in the US, in the week ended 04 August 2017. Mortgage applications had recorded a drop of 2.80% in the previous week.

Canadian building permits surprisingly climbed in June

Building permits in Canada unexpectedly rose 2.50% in June on a MoM basis, compared to a revised rise of 10.70% in the previous month. Market expectation was for building permits to drop 1.90%.

Canadian housing starts surprisingly rose in July

In July, the seasonally adjusted housing starts in Canada climbed unexpectedly to a level of 222.30 K, higher than market expectations of a drop to a level of 205.00 K. In the previous month, housing starts had registered a reading of 212.70 K.

Japanese average office vacancies in Tokyo rose in July

In July, on a MoM basis, average office vacancies in Tokyo in Japan registered a rise of 3.22%. In the prior month, average office vacancies in Tokyo had risen 3.26%.

Japanese machine tool orders advanced in July

In July, on a YoY basis, the preliminary machine tool orders in Japan registered a rise of 26.30%. In the prior month, machine tool orders had advanced 31.10%.

Foreign investors remained net sellers of Japanese stocks in the previous week

Foreign investors were net sellers of ¥37.70 billion worth of Japanese stocks in the week ended 04 August 2017, from being net sellers of ¥123.80 billion worth of Japanese stocks in the previous week.

Japanese housing loans rose in 2Q 2017

Housing loans in Japan rose 3.30% on an annual basis, in 2Q 2017. In the prior quarter, housing loans had registered a similar rise.

Japanese investors remained net buyers of foreign stocks in the previous week

Japanese investors remained net buyers of ¥160.80 billion worth of foreign stocks in the week ended 04 August 2017, from being net buyers of ¥137.40 billion worth of foreign stocks in the previous week.

Foreign investors became net buyers of Japanese bonds in the previous week

Foreign investors remained net buyers of ¥598.30 billion worth of Japanese bonds in the week ended 04 August 2017, as compared to being net buyers of ¥293.90 billion worth of Japanese bonds in the prior week.

Japanese machinery orders declined more than expected in June

In June, on a YoY basis, machinery orders in Japan dropped 5.20%, compared to an advance of 0.60% in the previous month. Market anticipation was for machinery orders to drop 1.10%.

Japanese investors became net buyers of foreign bonds in the previous week

Japanese investors remained net buyers of ¥1624.20 billion worth of foreign bonds in the week ended 04 August 2017, as compared to being net buyers of a revised ¥1069.50 billion worth of foreign bonds in the prior week.

Japanese machinery orders unexpectedly dropped in June

In June, machinery orders unexpectedly dropped 1.90% in Japan on a monthly basis, compared to a drop of 3.60% in the prior month. Market anticipation was for machinery orders to climb 3.60%.

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