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Construction spending in the U.S. rose by slightly less than expected in the month of May, according to a report released by the Commerce Department on Monday, although spending still reached its highest level in over three years. The report said construction spending rose 0.5 percent to an annual rate of $874.9 billion in May from the revised April estimate of $870.3 billion.
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After reporting a contraction in U.S. manufacturing activity in the previous month, the Institute for Supply Management released a report on Monday showing that manufacturing activity expanded by a little more than expected in June. The ISM said its purchasing managers index climbed to 50.9 in June from 49.0 in May, with a reading above 50 indicating an increase in manufacturing activity.
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The monetary base in Japan spiked 36.0 percent on year in June, the Bank of Japan said on Tuesday, standing at 163.537 trillion yen.
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The Reserve Bank of Australia will on Tuesday conclude it monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBA is widely expected to keep rates on hold at 2.75 percent.
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The Reserve Bank of Australia opted to keep the benchmark cash rate unchanged at a record-low of 2.75 percent for a second straight month, saying that the Australian dollar may slide further overtime and this could aid rebalancing of economic growth. The decision, announced following the conclusion of a monetary policy meeting on Tuesday, was in line with expectations.
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New orders for U.S. manufactured goods rose by slightly more than expected in the month of May, according to a report released by the Commerce Department on Tuesday, with the increase largely due to a jump in orders for transportation equipment. The Commerce Department said factory orders surged up by 2.1 percent in May following an upwardly revised 1.3 percent increase in April.
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New orders for U.S. manufactured goods rose by slightly more than expected in the month of May, according to a report released by the Commerce Department on Tuesday, with the increase largely due to a jump in orders for transportation equipment.
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Australia saw a seasonally adjusted merchandise trade surplus of A$670 million in May, the Australian Bureau of Statistics said on Wednesday.
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Retail sales in Australia were up a seasonally adjusted 0.1 percent on month in May, the Australian Bureau of Statistics said on Wednesday - standing at A$21.825 billion.
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Shop price inflation in the UK declined in June at the fastest pace since February 2007 as volatile weather pushed down non-food costs, the British Retail Consortium (BRC) said in a report on Wednesday. The BRC-Nielsen shop price index declined 0.2 percent year-on-year in June, the biggest fall since February 2007. This followed 0.1 percent drop in May. Prices fell for a second consecutive month.
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The service sector in China saw subdued business activity in June, reflecting weak inflow of new orders, two separate surveys revealed on Wednesday. The purchasing managers' index for China's non-manufacturing sector fell to 53.9 in June from 54.3 in May, the results of a survey conducted jointly by the China Federation of Logistics and Purchasing and the National Bureau of Statistics showed.
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Economic activity in the U.S. service sector continued to expand in the month of June, according to a report released by the Institute for Supply Management on Wednesday, although the pace of growth unexpectedly slowed compared to the previous month.
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With exports falling and imports rising, the Commerce Department released a report on Wednesday showing that the U.S. trade deficit widened by much more than anticipated in the month of May. The report said the trade deficit widened to $45.0 billion in May from a revised $40.1 billion in April. Economists had expected the deficit to widen to $40.8 billion.
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Economic activity in the U.S. service sector continued to expand in the month of June, according to a report released by the Institute for Supply Management on Wednesday, although the pace of growth unexpectedly slowed compared to the previous month. The ISM said its non-manufacturing index dropped to 52.2 in June from 53.7 in May, with a reading above 50 indicating growth in the service sector.
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Malaysia will on Thursday release trade data for May, highlighting a light day for Asia-Pacific economic activity.
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Bank of England's New Governor Mark Carney is unlikely to initiate any immediate policy change at his first monetary policy committee meeting that started Wednesday. Expectations are high on his arrival, with markets keenly waiting for better communication and interest rate guidance.
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European Central Bank President Mario Draghi said on Thursday that euro area interest rates are likely to remain low for an 'extended period' of time, a statement that was construed as a forward guidance about the policy path to markets that were rattled by the Portugal political crisis and the U.S. Federal Reserve's tapering announcement.
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The Bank of England said on Thursday that it has brought forward the rate-setting session for September so that Governor Mark Carney can attend the G20 Summit.
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The International Monetary Fund has warned that possible policy slippages, including at the European level, may pose downside risk to Italy's economic outlook and could undermine market confidence in the sovereign. Any backtracking on the policy could also intensify funding pressures on the banks and tighten credit, the Washington-based lender said in a regular review report on Thursday.
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German factory orders declined unexpectedly in May, largely due to subdued demand from the euro area, mirroring fragility in the nascent recovery in the largest Eurozone economy. The decline in turn potentially damped hopes of a recovery seen at the end of this year in the 17-nation bloc. Factory orders slipped 1.3 percent from a month ago, when it declined by a revised 2.2 percent.
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Employment in the U.S. increased by more than anticipated in the month of June, according to a report released by the Labor Department on Friday. The report said non-farm payroll employment increased by 195,000 jobs in June, matching the revised job growth seen in May. Economists had been expecting employment to increase by about 165,000 jobs.
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Employment in the U.S. increased by more than anticipated in the month of June, according to a report released by the Labor Department on Friday.
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Japan is scheduled to release a raft of data on Monday, highlighting a light day for Asia-Pacific economic activity. On tap are May figures for current account, as well as June numbers for bank lending, bankruptcies and the eco watchers survey.
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Japan posted a current account surplus of 540.7 billion yen in May, the Ministry of Finance said on Monday - remaining in the green for the fourth straight month after three consecutive months of deficit.
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Overall bank lending in Japan was up 2.2 percent on year in June, the Bank of Japan said on Friday, standing at 403.640 trillion yen. That follows the 2.1 percent annual increase in May.
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Romania's unemployment rate fell for the fifth consecutive month in June, data released by the state employment agency ANOFM showed on Monday.
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Sweden's industrial production declined at a faster rate in May, data released by Statistics Sweden showed on Monday.
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The Greek authorities reached an accord with the troika on economic reforms that are required to unlock next tranche of bailout fund, the European Commission said in a joint statement on Monday, just hours ahead of the Eurogroup meeting. Eurozone ministers at their meeting in Brussels later today will formally decide whether to release the next tranche of EUR 8.1 billion aid to Greece.
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Lithuania's consumer price inflation slowed in June, after a modest acceleration in the previous month, data released by the statistical office showed Monday.
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The M2 money stock in Japan was up 3.8 percent on year in June, the Bank of Japan said on Tuesday - worth 849.4 trillion yen.
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Retail credit card spending in New Zealand jumped a seasonally adjusted 1.1 percent on month in June, Statistics New Zealand said on Tuesday.
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Slovakia's trade surplus for May increased from a year ago as exports grew in contrast to a decline in imports, data released by the Statistical Office of the Slovak Republic showed on Tuesday.
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Eurozone finance ministers on Monday approved the payment of EUR 3 billion of aid package to Greece in two tranches, but on strict conditions to restructure the economy. The first tranche of EUR 2.5 billion will be paid this month and the remaining EUR 0.5 billion in October. Athens has to fulfill its agreed commitments in July itself.
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The International Monetary Fund on Tuesday slashed its growth forecast for a fifth consecutive time citing slowing growth in the emerging markets and lingering risks, mainly from the Eurozone crisis.
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Stagnant industrial production as well as a widening trade deficit have raised concerns over the expected strength of the U.K. economic recovery. Industrial production remained flat in May from April, when it fell 0.1 percent, data from the Office for National Statistics showed Tuesday. Economists had forecast industrial output to grow 0.2 percent in May.
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The International Monetary Fund on Tuesday lowered the global growth projections for the fifth consecutive time, citing weaker domestic demand in the emerging market economies and a more protracted recession in the euro area. In an update to its World Economic Outlook, the lender forecast the global economic growth at 3.1 percent this year, which was less than its April projection of 3.3 percent.
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China posted a merchandise trade surplus of $27.1 billion in June, the government said on Wednesday.
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An index measuring the prices of domestic corporate goods was up 0.1 percent on month in June, the Bank of Japan said on Wednesday, standing at 101.6.
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Consumer confidence in Japan eased to a seasonally adjusted 44.3 in June from 45.7 in May, the Cabinet Office revealed in its a monthly survey on Wednesday.
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Wholesale inventories in the U.S. unexpectedly decreased in the month of May, according to a report released by the Commerce Department on Wednesday, although the report also showed a significant increase in wholesale sales for the month. The Commerce Department said wholesale inventories fell by 0.5 percent in May following a revised 0.1 percent decrease in April.
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