U.K. retail sales unexpectedly rose last month, ending a downbeat second quarter on a more positive note. The volume of goods sold in stores and online climbed 1% in June after dropping for the previous two months, the Office for National Statistics said Thursday. Economists surveyed by Bloomberg had predicted another fall. Sales were up 0.7% in the second quarter, adding 0.04 percentage point to growth. Food sales dropped 0.3% in the period, while department stores also dragged on growth as June saw a record sixth month of declines. Consumers have been a bright spot for the...

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RECENT NEWS

Australia's official May data continued today with Retail Sales. For the month (M/M) this arrived for May below expectations at 0.1% (exp 0.2%; previous -0.1%). This is going to keep the rate cut buzz alive since the RBA tipped its hat to further cuts to come down the line if things do not improve. The RBA repeated that the œmain domestic uncertainty continues to be the outlook for...

A gauge of U.S. service industries dropped more than forecast in June to the weakest in almost two years, led by a cooling in employment that may further temper optimism about the labor market heading into Friday's jobs report. The non-manufacturing index fell to 55.1 from 56.9, according to an Institute for Supply Management survey Wednesday. Three of the gauge's four components...

The U.S. created a seasonally adjusted 102,000 private-sector jobs in June, payrolls processor ADP said Wednesday, up from a revised 41,000 in May. Economists polled by Econoday expected 140,000 new jobs. Mays numbers were revised higher by 14,000. What happened: Large businesses led the growth in June, adding 65,000 jobs. Small businesses are struggling, losing 23,000 jobs. By sector,...

The Australian trade balance for May 2019 has arrived as follows, Surplus: AUD$5.745m vs the expected AUD$5250m surplus, the prior was AUD$4871m surplus. This follows Australias trade position swinging from deficit end-2017 to growing surpluses through 2018 and a record high A$5.0bn in Feb 2019. Analysts at Westpac said that a surge in the value of resources exports has been the main driver...

A gauge of U.S. factory activity fell in June by less than forecast as output and jobs improved though new orders stalled, highlighting the repercussions of trade uncertainty and slower growth abroad. The Institute for Supply Management index dropped to 51.7, the third straight decline and the weakest level since October 2016, the groups data showed Monday. Still, that topped the...

China's June Caixin manufacturing PMI came in at 49.4 vs. 50.0 expected and 50.2 last, as modest fall in new work dragged production into contraction. On Sunday, the purchasing managers' index (PMI) for China's manufacturing sector arrived at 49.4 in June, the same as that seen in May, the National Bureau of Statistics (NBS) reported. June data highlighted a challenging month for Chinese...

The UK GDP second estimate showed that the economy expanded by 0.5% q/q in the first quarter of 2019, the same as that seen in the first readout, while matching the consensus forecasts. While on an annualized basis, the UK economys growth rate arrived at 1.8% in Q1, matching the expectations of 1.8% and unchanged from 1.8% previous reading. Separately, the UK total investment data arrived...

The number of people who applied for unemployment benefits in late June jumped to the highest level in almost two months, though so-called jobless claims continued to remain extremely low and reflect little sign that the labor market is deteriorating. Initial jobless claims, a rough way to measure layoffs, climbed by 10,000 to 227,000 in the seven days ended June 22, the government said...

ASIA
Japan's Wage Gains Accelerate in November Despite Gloomy Outlook
Wednesday, 9 January 2019 07:18 WIB Japanese wages rose more than expected in November, offering hope of stronger consumer spending that could fuel inflation if gains are...
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
Trump Says China Will `Reduce and Remove' Car Import Tariffs
Monday, 3 December 2018 12:08 WIB U.S. President Donald Trump said China has agreed to œreduce and remove tariffs on American cars from 40 percent currently. He gave...

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