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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK total trade deficit declined in July
The UK has reported total trade deficit of £2.87 billion in July, following a revised total trade deficit of £2.91 billion in the previous month. Market anticipation was for the nation to record a total trade deficit of £3.25 billion.
UK visible trade deficit rose in July
In July, visible trade deficit in the UK widened to £11.58 billion, following a revised visible trade deficit of £11.53 billion in the prior month. Markets were anticipating the nation to register a visible trade deficit of £12.00 billion.
UK industrial production rose as expected in July
In July, on a MoM basis, industrial production climbed 0.20% in the UK, compared with an advance of 0.50% in the previous month. Market anticipation was for industrial production to rise 0.20%.
UK trade deficit dropped in July
Non-EU trade deficit in the UK dropped to £3.84 billion in July. The UK had posted a revised trade deficit of £3.93 billion in the prior month.
UK construction output unexpectedly declined in July
In July, construction output registered an unexpected drop of 0.40% on an annual basis in the UK, less than market expectations for a rise of 0.20%. In the prior month, construction output had registered a rise of 0.90%.
UK NIESR estimated GDP rose in the June-August 2017 period
In the UK, NIESR estimated gross domestic product (GDP) registered a rise of 0.40% in the June-August 2017 period on a MoM basis. NIESR estimated GDP had advanced 0.20% in the May-July 2017 period.
UK construction output declined more than expected in July
In the UK, construction output fell 0.90% on a monthly basis in July, more than market expectations for a drop of 0.20%. In the prior month, construction output had registered a drop of 0.10%.
UK industrial production rose as expected in July
Industrial production registered a rise of 0.40% on a YoY basis in the UK, in July, at par with market expectations. Industrial production had recorded a rise of 0.30% in the previous month.
UK manufacturing production rose more than expected in July
On an annual basis, manufacturing production in the UK recorded a rise of 1.90% in July, compared with an advance of 0.60% in the prior month. Market expectation was for manufacturing production to climb 1.70%.
UK manufacturing production rose more than expected in July
On a MoM basis, manufacturing production recorded a rise of 0.50% in July, in the UK, more than market expectations for a rise of 0.30%. In the prior month, manufacturing production had recorded a flat reading.
German imports rose less than expected in July
On a monthly basis, the seasonally adjusted imports in Germany recorded a rise of 2.20% in July, less than market expectations for an advance of 2.80%. Imports had recorded a revised drop of 4.40% in the prior month.
German exports advanced less than expected in July
In July, the seasonally adjusted exports climbed 0.20% on a MoM basis in Germany, compared to a revised fall of 2.70% in the previous month. Market expectation was for exports to advance 1.30%.
German current account surplus fell in July
Germany has posted the non-seasonally adjusted current account surplus of €19.40 billion in July, following a revised current account surplus of €25.00 billion in the previous month. Market anticipation was for the nation to register a current account surplus of €20.80 billion.
German labour costs advanced in 2Q 2017
The working day adjusted labour costs in Germany recorded a rise of 2.30% in 2Q 2017 on a YoY basis. Labor costs had advanced by a revised 2.20% in the previous quarter.
German trade surplus dropped in July
In July, the seasonally adjusted trade surplus in Germany fell to €19.50 billion, compared to a trade surplus of €22.30 billion in the prior month. Market expectation was for the country’s trade surplus to narrow to €21.00 billion.
German labour costs advanced in 2Q 2017
In 2Q 2017, on a QoQ basis, the seasonally adjusted labour costs rose 0.30% in Germany. In the prior quarter, labour costs had risen by a revised 0.10%.
French manufacturing production rose less than expected in July
In July, manufacturing production in France advanced 0.30% on a MoM basis, lower than market expectations for an advance of 0.60%. In the prior month, manufacturing production had registered a drop of 0.90%.
French industrial production rose as expected in July
In France, industrial production recorded a rise of 0.50% on a MoM basis in July, compared to a drop of 1.10% in the prior month. Markets were expecting industrial production to climb 0.50%.
French budget deficit rose in July
In July, budget deficit in France widened to €83.80 billion, compared to a budget deficit of €62.30 billion in the previous month.
Spanish housing price index climbed in 2Q 2017
In Spain, the housing price index rose 2.00% on a QoQ basis, in 2Q 2017. In the previous quarter, the housing price index had climbed 2.30%.
Spanish calendar adjusted industrial output rose less than expected in July
On a YoY basis, the calendar adjusted industrial output rose 1.90% in Spain, in July, less than market expectations for a rise of 2.70%. In the prior month, the calendar adjusted industrial output had climbed by a revised 2.60%.
Swiss unemployment rate steadied in August
The seasonally adjusted unemployment rate remained flat at 3.20% in August, in Switzerland, in line with market expectations.
Swiss unemployment rate remained steady in August
In August, the non-seasonally adjusted unemployment rate remained steady at 3.00% in Switzerland, in line with market expectations.
US consumer credit rose more than expected in July
In July, consumer credit recorded a rise of $18.50 billion in the US, compared to a revised advance of $11.83 billion in the previous month. Market expectation was for consumer credit to climb $15.00 billion.
US wholesale inventories rose more than expected in July
In July, on a monthly basis, the seasonally adjusted final wholesale inventories in the US rose 0.60%, higher than market expectations for a rise of 0.40%. The preliminary figures had recorded a rise of 0.40%. In the prior month, the wholesale inventories had registered a revised similar rise.
Canadian unemployment rate unexpectedly fell in August
The unemployment rate in Canada fell unexpectedly to a level of 6.20% in August, compared to market expectations of an unchanged reading. The unemployment rate had registered a level of 6.30% in the previous month.
Canadian capacity utilisation rose in 2Q 2017
In 2Q 2017, capacity utilisation in Canada climbed to 85.00%, at par with market expectations. In the prior quarter, capacity utilisation had registered a revised reading of 83.20%.
Net number of people employed in Canada increased in August
In Canada, the net number of people employed advanced by 22.20 K in August, following a gain of 10.90 K in the previous month. Market anticipation was for the net number of people employed to advance 15.00 K.
Canadian participation rate steadied in August
In August, the participation rate in Canada remained flat at 65.70%.
Number of full-time employment in Canada fell in August
In Canada, the number of full-time employment eased by 88.10 K in August, following a revised gain of 35.10 K in the prior month.
Part time employment in Canada rose in August
In Canada, part time employment climbed by 110.40 K in August. Part time employment had recorded a decline of 24.30 K in the previous month.
Japanese Eco Watchers Survey for future outlook surprisingly advanced in August
Eco Watchers Survey for the future outlook recorded an unexpected rise to a level of 51.10 in August, in Japan, higher than market expectations of a fall to 50.10. Eco Watchers Survey for the future outlook had recorded a level of 50.30 in the prior month.
Japanese Eco Watchers Survey for current situation remained unchanged in August
In Japan, Eco Watchers Survey for the current situation remained steady at a level of 49.70 in August, compared to market expectations of a drop to 49.50.
Japanese M3 money supply advanced as expected in August
M3 money supply advanced 3.40% on an annual basis in Japan, in August, at par with market expectations. In the previous month, M3 money supply had registered a similar rise.
Japanese tertiary industry index advanced as expected in July
The tertiary industry index in Japan climbed 0.10% on a MoM basis in July, meeting market expectations. The tertiary industry index had dropped by a revised 0.20% in the previous month.
Japanese machinery orders fell less than expected in July
In Japan, machinery orders eased 7.50% in July on an annual basis, compared to a fall of 5.20% in the prior month. Market expectation was for machinery orders to ease 7.90%.
Japanese money supply M2+CD rose less than expected in August
On an annual basis in Japan, money supply M2+CD climbed 4.00% in August, compared to a similar rise in the prior month. Markets were anticipating money supply M2+CD to climb 4.10%.
Japanese corporate bankruptcies dropped in August
Corporate bankruptcies fell 11.98% in Japan on a YoY basis, in August. Corporate bankruptcies had recorded a rise of 0.28% in the prior month.
Japanese machinery orders advanced more than expected in July
In Japan, machinery orders rose 8.00% on a monthly basis in July, compared to a revised fall of 1.90% in the prior month. Markets were expecting machinery orders to rise 4.20%.
Chinese CPI advanced more than expected in August
In August, on an annual basis, the consumer price index (CPI) rose 1.80% in China, more than market expectations for a rise of 1.60%. In the previous month, the CPI had registered a rise of 1.40%.
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