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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index advanced more than expected in the June-August 2017 period
On a YoY basis, in the June-August 2017 period, the Halifax house price index recorded a rise of 2.60% in the UK, more than market expectations for a rise of 2.10%. In the May-July 2017 period, the Halifax house price index had climbed 2.10%.
UK Halifax house price index advanced more than expected in August
The Halifax house price index in the UK registered a rise of 1.10% on a MoM basis in August, higher than market expectations for a rise of 0.20%. In the previous month, the Halifax house price index had risen by a revised 0.70%.
ECB left interest rates on hold, would decide fate of quantitative easing in October
The European Central Bank (ECB) maintained the deposit rate of -0.40%, refinancing rate of 0.00% and the quantitative easing programme of up to €60.00 billion per month. The ECB President Mario Draghi stated that the central bank will set out plans to wind down its bond-buying programme at the next meeting in October. The ECB lowered its forecasts for inflation to 1.20% next year from 1.30% previously and to 1.50% in 2019 from 1.60%. However, it raised its economic growth forecast for this year to 2.20% from 1.90% previously.
Euro-zone household consumption expenditure advanced as expected in 2Q 2017
In 2Q 2017, household consumption expenditure registered a rise of 0.50% in the Euro-zone on a QoQ basis, compared to a revised advance of 0.40% in the previous quarter. Markets were anticipating household consumption expenditure to climb 0.50%.
Euro-zone gross fixed capital formation rose less than expected in 2Q 2017
The gross fixed capital formation climbed 0.90% on a quarterly basis in 2Q 2017, in the Euro-zone, compared to a revised fall of 0.30% in the previous quarter. Markets were expecting the gross fixed capital formation to advance 1.00%.
Euro-zone GDP advanced as expected in 2Q 2017
The seasonally adjusted final gross domestic product (GDP) in the Euro-zone rose 0.60% in 2Q 2017 on a QoQ basis, at par with market expectations. The preliminary figures had also indicated a rise of 0.60%. In the previous quarter, GDP had climbed by a revised 0.50%.
Euro-zone government expenditure advanced as expected in 2Q 2017
In 2Q 2017, government expenditure advanced 0.50% in the Euro-zone, on a quarterly basis, in line with market expectations. Government expenditure had advanced by a revised 0.20% in the previous quarter.
Euro-zone GDP rose more than expected in 2Q 2017
On an annual basis, the seasonally adjusted final gross domestic product (GDP) recorded a rise of 2.30% in the Euro-zone, in 2Q 2017, compared to a rise of 1.90% in the previous quarter. The preliminary figures had recorded a rise of 2.20%. Markets were anticipating GDP to advance 2.20%.
German industrial production rose less than expected in July
In July, the non-seasonally & working day adjusted industrial production in Germany rose 4.00% on a YoY basis, compared to a revised rise of 2.70% in the previous month. Markets were anticipating industrial production to climb 4.60%.
German industrial production remained flat in July
In July, the seasonally adjusted industrial production remained unchanged on a MoM basis in Germany, lower than market expectations for an advance of 0.50%. In the prior month, industrial production had recorded a drop of 1.10%.
French trade deficit rose in July
Trade deficit in France widened to €5.97 billion in July, from a revised trade deficit of €4.88 billion in the previous month.
French current account deficit widened in July
Current account deficit in France expanded to €4.20 billion in July, from a revised current account deficit of €2.40 billion in the prior month.
Swiss foreign currency reserves rose in August
In August, foreign currency reserves in Switzerland climbed to CHF 716.70 billion, compared to a reading of CHF 714.30 billion in the prior month.
US initial jobless claims climbed in the last week
In the US, the seasonally adjusted initial jobless claims registered a rise to 298.00 K in the week ended 02 September 2017, compared to market expectations of a rise to 245.00 K. In the previous week, initial jobless claims had recorded a level of 236.00 K.
US continuing jobless claims surprisingly dropped in the last week
In the week ended 26 August 2017, the seasonally adjusted continuing jobless claims recorded an unexpected drop to 1940.00 K in the US, lower than market expectations of a steady reading. In the prior week, continuing jobless claims had registered a revised level of 1945.00 K.
US non-farm business productivity advanced more than expected in 2Q 2017
In 2Q 2017, the final non-farm business productivity in the US rose 1.50% on a quarterly basis, compared to a revised advance of 0.10% in the previous quarter. The preliminary figures had indicated an advance of 0.90%. Market anticipation was for the non-farm business productivity to climb 1.30%.
US economic optimism index advanced in September
The economic optimism index advanced to 53.40 in September, in the US, compared to market expectations of an advance to a level of 53.10. The economic optimism index had recorded a reading of 52.20 in the prior month.
US unit labour costs in non-farm businesses advanced less than expected in 2Q 2017
In 2Q 2017, on a QoQ basis, the final unit labour costs in non-farm businesses rose 0.20% in the US, compared to a revised advance of 5.40% in the prior quarter. Market expectation was for the unit labour costs in non-farm businesses to rise 0.30%. The preliminary figures had recorded an advance of 0.60%.
Canadian building permits declined more than expected in July
In Canada, building permits eased 3.50% on a monthly basis in July, higher than market expectations for a drop of 1.50%. Building permits had registered a revised rise of 4.40% in the previous month.
Canadian Ivey PMI eased in August
The seasonally adjusted Ivey PMI dropped to 56.30 in August, in Canada, compared to a level of 60.00 in the previous month.
Canadian Ivey PMI rose in August
In Canada, the non-seasonally adjusted Ivey PMI registered a rise to 56.80 in August. Ivey PMI had recorded a reading of 52.90 in the prior month.
Japanese current account surplus expanded in July
The non-seasonally adjusted current account surplus in Japan expanded to ¥2320.00 billion in July, from a current account surplus of ¥934.60 billion in the prior month. Market expectation was for the country’s current account surplus to expand to ¥2030.10 billion.
Japanese bank lending including trusts rose in August
In August, on an annual basis, bank lending including trusts in Japan rose 3.20%. In the prior month, bank lending including trusts had recorded a rise of 3.30%.
Japanese annualised GDP advanced less than expected in 2Q 2017
On a quarterly basis, the final annualised gross domestic product (GDP) recorded a rise of 2.50% in 2Q 2017, in Japan, lower than market expectations for a rise of 2.90%. The preliminary figures had recorded a rise of 4.00%. Annualised GDP had climbed by a revised 1.50% in the previous quarter.
Japanese GDP deflator dropped as expected in 2Q 2017
On a YoY basis, in Japan, the final gross domestic product deflator eased 0.40% in 2Q 2017, in line with market expectations. In the prior quarter, the GDP deflator had recorded a drop of 0.80%. The preliminary figures had also indicated a fall of 0.40%.
Japanese (BOP basis) trade surplus rose in July
Trade surplus (BOP basis) in Japan widened to ¥566.60 billion in July, from a (BOP basis) trade surplus of ¥518.50 billion in the previous month. Market anticipation was for the nation to register a (BOP basis) trade surplus of ¥518.00 billion.
Japanese corporate bankruptcies eased in August
Corporate bankruptcies registered a drop of 11.98% in Japan on an annual basis, in August. Corporate bankruptcies had risen 0.28% in the previous month.
Japanese coincident index dropped in July
The flash coincident index eased to 115.60 in July, in Japan, lower than market expectations of a fall to a level of 115.80. The coincident index had recorded a level of 117.10 in the previous month.
Japanese bank lending ex-trust rose less than expected in August
On a YoY basis, bank lending ex-trust rose 3.20% in August, in Japan, compared to a rise of 3.40% in the previous month. Market expectation was for bank lending ex-trust to advance 3.40%.
Japanese GDP rose less than expected in 2Q 2017
On a QoQ basis, the final GDP advanced 0.60% in 2Q 2017, in Japan, compared to a revised rise of 0.40% in the previous quarter. The preliminary figures had indicated an advance of 1.00%. Market expectation was for GDP to climb 0.70%.
Japanese leading economic index fell in July
Compared to a level of 105.90 in the previous month the preliminary leading economic index in Japan dropped to 105.00 in July. Market expectation was for the leading economic index to ease to a level of 105.10.
Japanese nominal GDP rose less than expected in 2Q 2017
In 2Q 2017, the final nominal GDP rose 0.70% on a quarterly basis in Japan, lower than market expectations for a rise of 0.90%. Nominal GDP had registered a revised unchanged reading in the previous quarter. The preliminary figures had indicated an advance of 1.10%.
Japanese adjusted (total) current account surplus rose in July
Adjusted (total) current account surplus in Japan widened to ¥2032.90 billion in July, from an adjusted (total) current account surplus of ¥1522.50 billion in the prior month. Market anticipation was for the nation to post an adjusted (total) current account surplus of ¥1651.80 billion.
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