BT Three Minute Markets Update
Summary: BT's Chief Economist Chris Caton and our expert product managers provide a recorded regular update on current market conditions. The updates are current, quick and easy to listen to.
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- Artist: BT Financial Group
- Copyright: Copyright 2016 - BT Financial Group
Podcasts:
July US manufacturing output metric +0.8%, led by a 10.6% surge in automotive output but not as impressive as it seems.
Household spending is key to the US economy and July retail sales were +0.6% to match consensus, up 2.4% YOY and prior months revised upwards.
July monthly US Federal Government Budget Deficit $140bn, a $55bn widening, but mostly because 1 August was a Saturday; without that, it was an $11bn widening.
NFIB Index rose to 95.4 from June's 94.1; June US wholesale inventories above consensus.
The American Federal Reserve Labour Market Conditions Index rose 1.1 points last month for its third consecutive monthly gain and is likely to fully recap all the labour market losses caused by the GFC over the next 9-10 months.
US July employment report came in as expected at 215,000 non-farm payroll count - evidence for at least one rate cut this year.
US data releases: Weekly initial jobless claims report posted a 3,000 claimant increase, up to 270,000.
US data releases: July ISM non-manufacturing sector up to 60.3, it's most elevated print since 2005.
US data releases: Factory orders rose by monthly 1.8% over June; June's orders for durable goods revised to 3.4%.
US data releases: July's ISM manufacturing print down to 52.7%, its lowest print since April.
US Q2 GDP came in at 2.3%, with Q1 GDP amended upward to 0.6%; the US economy grew by 1.5% in the year's first half.
US pending home sales declined in June by 1.8% but gained 8.2% for the year.
US June consumer confidence release took its biggest monthly fall in four years, down to 90.9.
US data releases: June new home sales plummetted, shocking market analysts.
US data releases: July's CPI release came in strong, recording a 0.3%.
