US factory orders surged by $11.5 billion, or 2.3 percent, in August to $510.5 billion, the largest month-on-month increase since September 2017, beating analysts’ expectations of a 2.1-percent growth. On a year-on-year basis, orders increased 8.6 percent.
Consumer prices in the United Kingdom jumped 0.7 percent in August, after remaining flat for the previous two months, according to the UK’s Office for National Statistics (ONS).
US tariffs are starting to take a toll on the Chinese economy, with the September manufacturing PMI stalling at 50.0 after expanding for 15 months in a row
The Ifo Business Climate Index for Germany jumped to a six-month high of 103.8 in August, after climbing by 2.1 points from the previous month’s survey.
The University of Michigan Preliminary Consumer Sentiment Index slipped to 95.3 in August from July’s final reading of 97.9. The preliminary survey numbers were the lowest since September 2017 and sharply below market consensus of 98.0
China’s economy expanded at an annualised rate of 6.7 percent in the second quarter of this year, in line with broad market consensus. Compared to the first three months of the year, GDP (gross domestic product)
The seasonally adjusted US Producer Price Index (PPI) advanced 0.3 percent in June after registering a 0.5-percent rise the previous month, according to information published by the US Bureau of Labor Statistics.
The looming trade war between the United States and China, the world’s two largest economies, just turned official with the US imposing 25-percent duties on $34 billion worth of Chinese goods from Friday, July 6.
According to the State Secretariat for Economic Affairs (SECO), the Swiss economy expanded by 0.6 percent in the January-to-March quarter of 2018. The numbers more or less aligned with those in the previous three quarters, while exceeding market expectations of a 0.5-percent growth.
Aligning with market expectations, the unemployment rate in Japan came in at 2.5 percent in April, unchanged for the third consecutive month this year. The unemployment rate for jobseekers in the age group ranging between 15 and 24 years of age also remained stable at 3.8 percent.