New house prices in Canada increased for the third month in a row during July, data by Statistics Canada showed on Friday. The Canadian new house prices index increased last month by 0.4% on a monthly basis, and by 1.7% on an annual basis.
Read More »Canadian Retail Sales Restore Pre-COVID Levels in June
Canadian retailer sales increased during the month of June by 23% to CAD 53 billion, recovering to its level in February prior to the COVID-19 crisis, according to data by Statistics Canada. Retail sales rose across all types of stores, with clothing retailers leading the rise with a 142.3% growth. …
Read More »US Existing Home Sales Achieve Record Monthly Increase
Existing home sales in the United States grew by 24.7% to a seasonally adjusted annual rate of 5.86 million units in July, registering the second monthly consecutive monthly increase, as shown by data of the National Association of Realtors (NAR) on Friday. The June reading was revised to 4.70 million …
Read More »Eurozone Consumer Sentiment Improves in August
Consumer confidence in the Eurozone improved during August by 0.3 points, according to preliminary data by the European Commission on Friday. The consumer morale index recorded -14.7 this month, up from -15.0 in July. For the European Union (EU), the consumer confidence increased by 0.1 points to -15.5.
Read More »US: Markit Manufacturing PMI Improves to 53.6
The business activity in the US manufacturing sector is seen expanding at a robust pace in August with the IHS Markit’s advanced Manufacturing PMI rising from 50.9 in July to 53.6. This reading came in better than the market expectation of 51.9. Further details of the publication revealed that the …
Read More »Oil Prices Rising as Producers Talk About Efforts to Cut Supplies
Oil prices rose, and is on the path of achieving gains for the third week in a row, as it was strengthened by the efforts of major crude producers to cut production in light of concerns about the economic recovery from the Coronavirus pandemic. US West Texas Intermediate crude futures …
Read More »British Public Debt Exceeds 2 Trillion Pounds For The First Time
Britain’s public debt exceeded 2 trillion pounds ($ 2.65 trillion) for the first time, underscoring the challenge facing Finance Minister Rishi Sunak, who is under pressure to provide more emergency support for the economy ravaged by the coronavirus pandemic. Net debt in July, which excludes public banks, rose to £ …
Read More »The Chinese President: We Will Strengthen Efforts to Make Progress in Major Technological Fields
China State TV reported that President Xi Jinping said his country would strengthen its efforts to make progress in key technological fields. China Central Television reported that Xi said during an inspection tour of the flood-hit Anhui province that the authorities would implement more support measures to help companies, stabilize …
Read More »Euro is winning as Dollar falters on Economic Concerns
The euro rose as the dollar fell due to concerns about the strength of the US economic recovery after job data that came below expectations, while the Chinese yuan rose to its highest level in seven months as traders bet on China’s growth. Traders in the single European currency are …
Read More »UK Retail Sales Rise in July Surpassing Pre-Covid Peak
British retail sales rose above pre-coronavirus levels in July, the first full month that stores selling non-essential goods opened their doors since the country went into lockdown measures in March. The strong unexpected retail sales data reveals strength in consumer demand even as the rest of the economy struggles to …
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