Uptick in US unemployment, Canadian GDP nearly unmoved, Swiss CPI up
The GDP deflator rose 0.7% in the second quarter, as consumer inflation remained elevated. However, the terms of trade—the ratio of the price of exports to the price of imports—fell 2.0% in the second quarter, primarily because of a 3.4% decline in prices of exported goods. This was the fourth straight quarterly decrease in the terms of trade.
Slight edge down in retail sales, weekly claims lower as well
the advance figure for seasonally adjusted initial claims was 230,000, a decrease of 10,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 239,000 to 240,000. The 4-week moving average was 236,750, an increase of 2,250 from the previous week's revise
NZ consumers expect inflation tapering, UK is showing more growth
On average, survey respondents expected the Official Cash Rate (OCR) to be at 5.53% by the end of the September 2023 quarter
The BoE voted to increase Bank Rate. Labour force participation the highest recorded
The seasonally adjusted unemployment rate was 3.6 percent in the June 2023 quarter, compared with 3.4 percent last quarter, according to figures released by Stats NZ.
0.7% increase in retail sales in June 2023, with all main sectors experiencing growth
Non-store retailing sales volumes rose by 0.2% in June 2023, following a rise of 2.4% in May 2023.
Automotive fuel stores sales volumes fell by 0.3% in June 2023, following a rise of 1.7% in May 2023.
Global inflation appears ready to ease, governments still on alert
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in June on a seasonally adjusted basis, after increasing 0.1 percent in May, the U.S. Bureau of Labor Statistics reported. Over the...
Second GDP estimate good, mining sector in Canada grows
According to the US Department of Labor in the week ending June 24, the advance figure for seasonally adjusted initial claims was 239,000, a decrease of 26,000 from the previous week's revised level. The...
Banks eye improved retail sales, but opt to raise rates again
Since then, gilt yields have risen materially, particularly at shorter maturities, now suggesting a path for Bank Rate that averages around 5½%. Mortgage rates
More quantitative tightening despite labour market not at maximum yet
Per the Reserve Bank of Australia announcement, the Board decided to increase the cash rate target by 25 basis points to 4.10 per cent. It also increased the interest rate paid on Exchange Settlement...
US unemployment in the 3.4-3.7 range, Canada GDP stagnates
Total nonfarm payroll employment increased by 339,000 in May, and the unemployment
rate rose by 0.3 percentage point to 3.7 percent, the U.S. Bureau of Labor Statistics reported. Job gains occurred in professional and business...
