Data released by China's National Bureau of Statistics early Thursday, July 9, showed that the annual consumer price index (CPI), a key measure of inflation, rose 1% in June, compared to 1.2% growth in April and May. This figure fell short of market expectations of 1.1%, as prices for industrial goods such as jewelry and gasoline declined. On a monthly...
The RBNZ's Monetary Policy Committee decided to raise the official cash rate (OCR) by 25 basis points to 2.50% at its meeting this morning, Wednesday, July 8, as expected, with all six members agreeing. This is the first rate hike since May 2023. The bank's statement indicated that following the reopening of the Strait of Hormuz, oil prices have fallen...
The US Bureau of Labor Statistics released a report moments ago showing that nonfarm payrolls (NFP) rose by only 57,000 jobs in June, compared to 172,000 in May. This was below expectations of 115,000 new jobs. Meanwhile, the unemployment rate fell slightly in June, by 0.1 percentage points, to 4.2%, while the labor force participation rate declined to 61.5% from...
he US private sector added approximately 98,000 jobs in June, according to figures released moments ago by ADP, after adding around 122,000 jobs in May. This fell short of expectations, which had predicted an increase of 118,000 jobs. In detail, the natural resources and mining sector lost 5,000 jobs, while the construction sector added approximately 2,000 jobs, and the manufacturing...
Eurostat, the European Union's statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 2.8% in June, according to the preliminary reading, compared to 3.2% in May, falling short of market expectations. The largest contributor to inflation in June was the energy sector, which rose by 8.7% after growing by 10.8% in May. Services increased...
Canada's gross domestic product (GDP) grew by 0.5% in April, according to data released moments ago by Statistics Canada, following a contraction of approximately 0.1% in March. This figure surpassed expectations (0.4%) and was driven by strength in both the goods and services sectors. Specifically, manufacturing rose by 1.2% in April, reflecting growth across most sectors, particularly mining, quarrying, and...
New orders for durable goods fell in May, according to a report released moments ago by the US Census Bureau. The decline was $15.6 billion, reaching $332.1 billion, a drop of 4.5% compared to an 8% increase in April. Expectations had been for a 5% decrease. Meanwhile, core orders, excluding transportation, rose 1.3% in May, compared to a 1.1% increase...
Australia's unemployment rate fell by 0.1 percentage point in May to 4.4%, according to figures released by the Australian Bureau of Statistics (ABS) at the start of Asian trading on Thursday, June 25. This compares to 4.5% in April and matches market expectations. The labor force participation rate also rose to 66.7% from 66.6%. The Australian economy added 40,300 jobs...
The IFO business confidence index in Germany rose in June to 85.6, up from 85.0 in May, matching market expectations. The index, which surveys nearly 9,000 German companies, reflects companies' optimism about the current situation and improved expectations for the coming months. Specifically, the current situation index rose to 87.0 from 86.1 in May, while the expectations index climbed to...
Figures released this morning, Wednesday, June 24, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose by 4% year-on-year in May, compared to 4.2% in April 2024. This was below expectations of a 4.3% increase. The index fell by 0.7% month-on-month, compared to 4% in April. The largest increase in the index...