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Australian trade surplus hit by iron ore export slump

Australia's trade surplus has shrunk dramatically, falling to $105 million in October from $1.6 billion the month before. Economists had been expecting a much higher trade surplus around $1.4 billion. The worse than expected result was driven by both a…

Number of employed up by 190,000, ADP reports

Private sector employment increased by 190,000 jobs from October to November according to the November ADP National Employment Report. “The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research…

Eurozone Retail PMI rose to 52.4

November saw an eighth consecutive monthly rise in like-for-like sales at eurozone retailers, thereby extending the longest period of growth seen since 2006. Rates of expansion quickened in Germany and France, while monthly retail sales fell slightly in Italy, reversing…

German Factory Orders increased by 0.5%

Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in October 2017 a seasonally and working-day adjusted 0.5% on the previous month. For the third time in a row, German companies…

Australian GDP grew by 0.6% Q3

The Australian economy grew by 0.6% in seasonally adjusted chain volume terms in the September quarter. Compensation of employees increased 1.2%. 17 of 20 industries recorded positive growth this quarter. New engineering construction increased 6.3%. Household final consumption expenditure increased…

ISM Non-Manufacturing PMI down to 57.4

The November PMI registered 58.2 percent, a decrease of 0.5 percentage point from the October reading of 58.7 percent. The New Orders Index registered 64 percent, an increase of 0.6 percentage point from the October reading of 63.4 percent. The…

UK Services PMI fell to 53.8

November data pointed to a setback for the UK service sector, with business activity growth easing from the six-month peak seen in October. Volumes of new work also increased at a slower pace, while the rate of staff hiring was…

RBA left interest rates unchanged as expected

The Reserve Bank of Australia held its cash rate at a record low 1.50% on Tuesday as expected. The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged…

Australian Retail Sales up by 0.5%

Australian retail turnover rose 0.5 per cent in October 2017, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures.  This follows a 0.1 per cent rise in September 2017. "In seasonally adjusted terms, there were…

US Factory Orders fell by 0.1%

New orders for U.S.-made goods fell less than expected in October and shipments of core capital goods were much stronger than previously reported, pointing to sustained strength in manufacturing that should buoy the economy. Factory goods orders dipped 0.1 percent…

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