Market Update

Manufacturing sales in Canada grew by a record 20.7% to CAD 48.7 billion in June, after rising by 11.6% increase in May, according to data by Statistics Canada. Many factories operated at a much higher capacity in June, with the capacity utilization rate for the total manufacturing sector increasing by …

The consumer sentiment in the United States remained largely unchanged in early August, according to preliminary data from the University of Michigan. The consumer sentiment index increased by 0.3% compared to its level in July, adding 1% compared to its record low level in April. On an annual basis, the …

Industrial production in the United State rose by 3% during the month July, registering its third consecutive monthly increase, data by the U.S. Federal Reserve showed on Friday. However, production remains below its levels prior to the COVID-19 pandemic by around 8.4%

The United States nonfarm business sector labor productivity increased by 7.3% during the second quarter (Q2) of 2020, as shown by the data released by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor on Friday. However, output decreased by 38.9% and hours worked declined by 43%. …

US retail sales increased less than expected in July and may slow further in the coming months due to a spike in new COVID-19 cases and a drop in unemployment benefits. The US Commerce Department said retail sales rose 1.2% last month, down from a 8.4% advance in June. Economists …

The eurozone’s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc’s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic. The European statistics office Eurostat said …

European stocks fell as tourism stocks took a hit after Britain added more European countries to its list of quarantine areas for arrivals, while disappointing retail sales data from China raised doubts about the pace of the economy’s recovery. The pan-European STOXX 600 index fell 0.8%, but is on track …

The dollar stabilized as a jump in US Treasury yields and a drop in sentiment due to weak economic data from China put an end to the global reserve currency sell-off. Retail sales in China continued to decline for the seventh month in July unexpectedly, and industrial production missed expectations, …

The Economy Ministry said that Germany’s economy, which has been hit hard by the Coronavirus pandemic, will grow strongly in Q3 but that a full recovery will take a long time. The ministry added in its monthly report that Europe’s largest economy has been recovering since May thanks to easing …

According to a decree published on Friday, the French government has declared the capital, Paris, and the Bouches-du-Rhone region around Marseille on the Mediterranean coast, “red” areas where the chances of infection with the Coronavirus are high. The decree gives local authorities the power to control the movement of people …