UK Retail Sales Fall by 0.9% in August but Remain above the Pre-Pandemic Levels
(ONS) Sales at UK retail stores were down by 0.9% in August 2021, after another fall of 2.8% in July. The sales were still 0.3% higher in the three months…
IMF Chief Georgieva Denies Claims of Influencing China’s World Bank Report
(Bloomberg) The Managing Director of the International Monetary Fund Kristalina Georgieva has denied claims she engineered the changes made to China’s “Doing Business” report of 2018. The allegations, raised by…
Jobless Claims Rise by 20,000 to Remain Above Forecasts
(Department of Labor) US jobless claims increased by 20,000 to reach 332,000 in the week that ended September 11 from the previous week. The claims were higher than the expected…
US Posts a 0.7% Jump in Retail Sales in August to Keep Levels Elevated From 2020
(Census Bureau) Retail and food services in the US in August was $618.7 billion, an uptick of 0.7% from July. The retail sales were 15.1% above August 2020. Fig: Retail…
US Manufacturing Elevated Despite Easing for the 4th Straight Month in August
(Fed Philadelphia) The current activity diffusion index for US manufacturing outlook was 19.4 in August, a decline of 3 points from June. The index marks a fourth consecutive month of…
Europe’s Passenger Car Registrations Drops by 19.1%in August
(ACEA) Europe’s passenger car market dropped 19.1% year-over-year in August to 622,993 units. Spain, Italy, Germany, and France dropped 28.9%, 27.3%, 23.0%, and 15.0%, respectively. Fig: New Passenger Car Registrations…
US Industrial Production Cools to a 0.4% Jump in August on Late-Month Shutdowns
(Fed) Late-month shutdowns due to Hurricane Ida held back industrial production in the US, with the output increasing by 0.4% in August, down from a gain of 0.8% in July.…
Euro Area Slightly Beats EU in Industrial Production After a Monthly Gain of 1.5%
(Eurostat) Industrial production in the euro area rose by 1.5% in July from June, a slightly higher increase than the EU which posted a 1.4% jump. Fig: Industrial Production in…
U.K. Posts a Record 3.2% Annual Increase in Consumer Prices in August
(ONS) The U.K. consumer price index jumped by 3.2% in the year to August 2021, the largest increase on record since 1997. The gain was higher than expected 2.9% and…
China’s Property Sector Cools Amid Tighter Regulations
(NBS) China’s new annual home prices grew at the slowest pace in August since January, following tighter regulations. Property investment grew the slowest in 18 months. The average new home…
US Consumer Prices Posts a Lower Than Estimated 0.3% Monthly Jump in August
(BLS) US Consumer Price Index rose by 0.3% in August from July, a lower increase compared to expected 0.4% gain. On a year over year basis, consumer prices were up…
UK Payroll Numbers Return to Pre-Pandemic Levels After Uptick by 241,000 in August
(Office for National Statistics) UK recorded 29.1 million total number of payroll employees in August, an increase of 241,000 from the previous month. The uptick in payroll numbers helped the…