US Building Permits Miss Forecasts, Permits Rebound
In the US, building permits increased 14.4% m-o-m to a seasonally adjusted yearly rate of 1.220 million units in May, following a five-year low in April and slightly below market’s forecasts of 1.228 million units. Single-family authorizations rose 11.9% and
Read MoreChina Retail Trade Declines 2.8% y-o-y in May
China’s retail trade fell by 2.8% y-o-y in May, compared with economists’ estimates of a 2% decline and following a 7.5% decrease in the earlier month. It was the worst decline in retail trade since an increase in December last
Read MoreUK Economy Contracts at Record Pace in April
The UK’s manufacturing production plummeted at record 28.5% y-o-y in April, following a 9.7% decline in March and worse than predictions for a 19.9% decline. The Covid-19 lockdown enforced from March 23rd had a considerable effect on entire economic activity
Read MoreBrazil Inflation Hits 21-yr Low Despite 2234% Rise in Car Production
In May 2020, Brazil’s annual inflation rate declined to 1.88%, from 2.4% in the prior month, but surpassed economists’ forecasts of 1.8%. It was the lowest inflation rate since January 1999, far below the government’s median target level of 4%,
Read MoreJapan Economy Contracts Less than Preliminary Estimate in Q1
Japanese economy contracted 0.6% q-o-q in the 1Q20, compared with an initial estimate of a 0.9% contraction and economists forecast for a 0.5% decrease. It was the first contraction since 2015, as the Covid-19 issue had a big negative impact
Read MoreUS Dollar Rallies After Record Monthly Job Additions in May
The US dollar index increased to 97 Friday against a bouquet of currencies following the release of upbeat non-farm payroll data for May. Furthermore, unemployment rate fell to 13.3% following a record high unemployment in April. The US dollar index,
Read MoreSwiss Economy Contracts at Record Pace in March Quarter
The Swiss economy contracted 2.6% q-o-q in the first-quarter, the highest since 1980 when the publication of data began, and higher than economists’ expectation for a 2% contraction as economic activity in March was severely restrained due to the Covid-19
Read MoreChina Manufacturing Expands for 3rd Consecutive Month
China’s National Bureau of Statistics reported an increase in non-manufacturing PMI to 53.60 in May, from 53.20 in the earlier month. It was the third consecutive month of growth in the service sector and robust since January. New business expanded
Read MoreUS Economy Records Steepest Contraction in 12 yrs
The US economy contracted by an annual rate of 4.8% in 1Q2020, halting the lengthiest time frame of growth in the nation’s history, as per advance estimate. Notably, the GDP shrank at the sharpest rate in 12 years, far worse
Read MoreSouth African Rand Weakens to 18 Mark Against Greenback
The South African rand weakened above the 18 level against the greenback Friday as investors were worried that tensions between Beijing and Washington could heighten further after China made initiatives to implement a fresh security law in Hong Kong. Last
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