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Germany Markit mftg PMI Aug flash 53.6 as exp
Germany Markit PMI Aug flash report 23 Aug 2016
Q2 2016 German GDP revision 0.4% vs 0.4% exp q/q
Details from the Q2 2016 German GDP revision data report 24 August 2016
August 2016 German IFO business climate 106.2 vs 108.5 exp
August 2016 German IFO business climate report
German GfK Consumer Confidence at 15-Month High for September
German consumer confidence strengthened according to the latest GfK data with an expected reading of 10.2 for September from the previous 10.0, which was in line with market expectations and the highest reading for 15 months. The data will reinforce confidence in the spending outlook and help offset concerns triggered by yesterday’s IFO data.
There was a slight retreat in the economic expectations component to 8.6 points from 9.4, although the rate of decline was much lower than seen in the previous month. The index is also still above the long-term average of zero even though there has been a significant annual decline. There appears to have been some negative impact on confidence from the recent terrorist attacks within Germany, while there has not been a sustained impact from the UK referendum result.
There was a sharp improvement in income expectations for the month to 58.3 from 49.7, almost recovering loses seen last month with an annual increase of over 5 points.
There was a further improvement in the reported propensity to consume with an increase to 57.3 from 55.4 previously. Spending expectations were again boosted by a continuation of very strong confidence in confidence surrounding individual job security and rising incomes with confidence surrounding buying intentions.
There is still a clear divergence between over all expectations surrounding the economy and individual expectations surrounding income and consumer behaviour. The most likely outcome is that individual expectations will be the dominant influence, which will support consumer-spending trends in the short term.
The Euro edged higher on the data with EUR/USD back above 1.1300 in Europe, although German bunds opened slightly higher with US Treasury futures also gaining slightly in Asian trading.
source
German Import Prices in July 2016: –3.8% on July 2015
In June and in May 2016 the annual rates of change were –4.6% and –5.5%, respectively.
From June to July 2016 the index rose slightly by 0.1%.
The index of import prices, excluding crude oil and mineral oil products, decreased by 2.4% compared with the level of a year earlier.
The index of export prices decreased by 1.2% in July 2016 compared with the corresponding month of the preceding year. In June and in May 2016 the annual rates of change were –1.3% and ... (full story)
German Jobless Rate Glued at All-Time Low in Aug
The unemployment rate in Europe's powerhouse economy remained intact at an all-time trough in August, data from the German Federal Employment Agency showed on Wednesday.
Germany's adjusted unemployment rate booked 6.1% during the eighth month of the year, the same as in July when it dropped to the lowest level since the beginning of the data series in January 1992.
Economists had been for an unchanged print in the reported month.
US Private Sector Decelerates Hiring in Aug: ADP
The US labor market showed a weaker performance in August compared with the previous month, the report from payrolls processor ADP showed on Wednesday, but the headline gauge came in stronger than expected.
Private sector companies in the US created 177,000 new jobs in the eighth month of the year, down from the upwardly revised 194,000 booked a month before.
Markets had bet on a downtick to 175,000 new employees in the US labor market for the reported month.
"Service-providing employment rose by 183,000 jobs in August, fewer than July’s 199,000 jobs while goods-producing employment was down by 6,000 jobs in August, following July losses of 5,000," ADP further detailed in the report.
The data provided a fresh insight into the number of jobs created by the US companies two days before the official non-farm payrolls US data.
Germany Markit/BME mftg PMI Aug 53.6 as exp
Germany August final Markit/BME mftg PMI 1 Sept
Full Markit release here
August ISM manufacturing index 49.4 vs 52.0 expected
Eurozone PPI July mm +0.1% as expected
Eurozone July PPI report 2 Sept
Nothing to see here. Especially on NFP day.