The headline seasonally adjusted final IHS Markit/CIPS UK Services PMI Business Activity Index posted 47.1 in June, up sharply from 29.0 in May and the highest for four months. This compared with the earlier 'flash' figure of 47.0 in June. The data did little to influence the British pound or provide any meaningful impetus to the GBP/USD pair. Source : FXstreet

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A measure of the number of people claiming unemployment benefits in Britain soared to its highest level since 1996 in April, the first full month of the government's coronavirus lockdown, data published on Tuesday showed. The claimant count rose by 856,500 - the biggest ever month-on-month leap - to 2.097 million, a 69% increase, the Office for National Statistics said. A Reuters poll of...

Retail sales crater record 16% in April amid coronavirus lockdowns and spending slump Sales at U.S. retailers sank a record 16.4% in April after coronavirus lockdowns shuttered much of the economy, cost millions of jobs and triggered an unprecedented slump in consumer spending. Retail sales tumbled in every category except online shopping, the government said Friday. Sales also sank by a...

German GDP (gross domestic product) shrank by 2.2% in the first quarter compared to the final three months of 2019, official statistics revealed Friday. The contraction, fueled by the early stages of nationwide lockdowns implemented in March to curtail the coronavirus pandemic, was in line with analyst expectations. Germany began easing its lockdown restrictions in late April, having...

The Aussie payrolls data had been indicating that around 1 million had already been rendered inactive. Today's official employment and unemployment statistics have been held in high anticipation and the data has finally arrived as follows: Australia April employment -594.3k s/adj (Reuters poll: -575.0k). Australia April unemployment rate +6.2 pct, s/adj (Reuters poll: +8.3). Australia April...

The preliminary reading of the first quarter 2020 UK GDP came in at -2.0% QoQ vs. -2.5% expected and 0.0% last while on an annualized basis the figure stood at -1.6% vs. -2.1% expected and +1.1% seen previously. The UK GDP monthly release showed that the UK economy contracted in March, arriving at -5.8% versus -8.0% expected and -0.1% previous. Meanwhile, Index of services (March) arrived at...

One thing anxious Americans dont have to worry about with the COVID-19 pandemic shutting down large chunks of the economy is inflation. Consumer prices sank 0.8% in April, led by tumbling gasoline prices, to mark the biggest decline since the Great Recession. The decline in the consumer price index last month was the steepest since 2008. Economists polled by MarketWatch had also forecast an...

U.S. economy shed over 20 million nonfarm jobs in April, the biggest monthly drop ever, vividly illustrating the economic devastation caused by the coronavirus pandemic. Nonfarm payrolls fell 20.5 million from March -- compared with a forecast of a drop of 21 million -- according to Labor Department data Friday,  as government-mandated shutdowns and the prospect of slumping consumer...

Almost 3.2 million people applied for unemployment benefits last week after the coronavirus cost them their jobs, but the historic wave of layoffs tied to the pandemic is receding. The number of initial jobless claims processed in the week ended May 2 was less than half the crisis peak of 6.9 million at the end of March. Still, some 33 million new claims have been filed in seven weeks, a...

ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The...
UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs...
EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash...
GLOBAL ECONOMY
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will...

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