Economic News

*The economic data chart is for the U.S.

Japan posted a current account surplus of 1,176.8 billion yen in May, the Ministry of Finance said on Wednesday. That exceeded expectations for a surplus of 1,088.2 billion yen and was up from 262.7 billion yen in April. The trade balance showed a deficit of 556.8 billion yen, down 18.1 percent... Read more...

Norway's industrial production grew at a softer pace in May, figures from Statistics Norway showed on Tuesday. Industrial production increased 3.0 percent year-on-year in May, after a 5.4 percent rise in April. Manufacturing output fell 8.2 percent annually in May, following a 5.1 percent decrease... Read more...

The Japan leading index increased in May, data from the Cabinet Office showed on Tuesday. The leading index, which measures the future economic activity, rose to 79.3 in May from 77.7 in April. The coincident index that reflects the current economic activity decreased to 74.6 in June from 80.1... Read more...

US economic recovery may be "leveling off" as activity could be dampened amid a recent surge in coronavirus infections, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said in an interview to the Financial Times. Bostic cited high-frequency data that signaled that the economic activity... Read more...

Analysts at Goldman Sachs on Monday cut the US economic growth forecast for this year to a contraction of 4.6 percent versus a 4.2 percent shrinkage predicted earlier. "The healthy rebound in consumer services spending seen since mid-April now appears likely to stall in July and August as authorities... Read more...

ism non manufacturing 070620

In the latest sign of the rapid economic recovery, the Institute for Supply Management released a report on Monday showing a substantial turnaround in U.S. service sector activity in the month of June. The ISM said its non-manufacturing index spiked to 57.1 in June from 45.4 in May, with a reading above 50 indicting an increase in service sector activity. Read more...

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eurozone july30 07jul20

Eurozone is set to undergo an even deeper recession due to the coronavirus pandemic despite measures taken at both EU and national levels, the European Commission said in its Summer Forecast released Tuesday. The currency bloc is forecast to contract 8.7 percent in 2020 instead of 7.7 percent projected in the Spring Forecast. Nonetheless, the region is forecast to grow 6.1 percent in 2021, which Read more...

Denmark's industrial production declined at a softer pace in May due to the Covid-19 pandemic, figures from Statistics Denmark showed on Tuesday. Industrial production fell a seasonally adjusted 3.0 percent month-on-month in May, following a downwardly revised 5.2 percent decline in April. A similar... Read more...

The Czech Republic's industrial production decreased further in May, data from the Czech statistical office showed on Tuesday. Industrial production declined a working-day adjusted 25.7 percent year-on-year in May, following a 33.7 percent fall in April. Manufacturing output declined 26.7 percent... Read more...

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The total value of overall bank lending in Japan was up 6.2 percent on year in June, the Bank of Japan said on Wednesday - coming in at 570.111 trillion yen. That was shy of expectations for an increase of 7.2 percent following the 4.8 percent gain in May. Excluding trusts, bank lending rose an... Read more...

Japan will on Wednesday see June results for the eco watchers survey, highlighting a light day for Asia-Pacific economic activity. In May, the survey for current conditions had a score of 15.5 and the outlook was at 36.5. Japan also will see June numbers for bank lending and May figures for current... Read more...

Taiwan's consumer prices fell further in June, but at a slower pace, mainly due to the fall in prices of fuels and lubricants, data from the Directorate-General of Budget, Accounting and Statistics showed on Tuesday. The consumer price index fell 0.76 percent year-on-year in June, following a 1.19... Read more...

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Estonia's consumer prices declined for the third straight month in June, data from Statistics Estonia showed on Tuesday. The consumer price index fell 1.0 percent year-on-year in June, following a 1.7 percent decrease in May. The consumer price index was affected the most by 13.2 percent more expensive... Read more...

Italy's retail sales grew in May, data from the statistical office ISTAT showed on Tuesday. The retail sales value rose a seasonally adjusted 24.3 percent month-on-month in May, after 10.7 percent decline in April amid the lockdown restrictions due to the coronavirus pandemic. Sales of non-foods... Read more...

France's trade deficit widened in May amid a rise in exports and imports, the French customs office said on Tuesday. The trade deficit rose to EUR 7.05 billion in May from EUR 5.07 billion in April. The energy trade deficit remained at a record low, the agency said. Exports rose 16.8 percent... Read more...

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Time (et)
Economic Indicator
Wednesday ,Jul.8
Unemployment Rate
3.4 %
House Price Index (Y-o-Y)
4.2 %
EIA Crude Oil Inventory (Barrels)
533.5 M
United States
Core Machinery Orders (M-o-M)
-12.0 %
CPI (M-o-M)
-0.8 %
CPI (Y-o-Y)
2.4 %
PPI (Y-o-Y)
-3.7 %
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Profit Taking May Lead To Initial Pullback On Wall Street

The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to give back ground following the rally seen in the previous session. Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on the strong upward move seen over...
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