Wednesday, August 24, 2016 - 20:10 Japan July Business Service Price Rise Picks Up on Advertising 0
TOKYO (MNI) - The Service Producer Price Index with a 2010 base year from the Bank of Japan released Thursday:
* Japan's service producer prices +0.4% on year in July for the 37th straight rise after +0.2% in June. The largest year-on-year rise since August 2015 (+0.6%) was led by a jump in the prices for TV, newspaper and internet advertising services as well as slightly higher costs for data processing and internet-based services.
* Business service prices have been on a modest uptrend in a range of +0.2% to +0.6% y/y in the past year.
Wednesday, August 24, 2016 - 19:01 UK May Pay Awards Return To 2.0% in July: XpertHR 0
by Jamie Satchithanantham
LONDON (MNI) - UK median pay deals rose by 2.0% in the three months to July, the latest survey from XpertHR shows.
The XpertHR survey result means that median pay awards returned to the 2.0% mark, the level at which pay awards had stood since the turn of the year.
While pay awards continue to run above inflation, as measured by the retail prices index (RPI), the gap between the two has decreased and currently stands at just 0.1%.
Given inflation is expected to continue its upward trajectory, come the end of the year it may well be the case that it outstrips the pace of awards, reversing a trend that has been in place since the end of 2014.
Wednesday, August 24, 2016 - 10:00 US NAR: July Existing Home Sales Fall 3.2% to 5.39 Mln SAAR 0
By Kevin Kastner
WASHINGTON (MNI) - Home resales declined by 3.2% in July to an annual rate of 5.39 million, below expectations for a smaller decline to a 5.50 million rate from an unrevised 5.57 million pace in June, data released by the National Association of Realtors reported Wednesday showed.
NAR Chief Economist Lawrence Yun told reporters that he sees the decline from a multi-year high in June as a temporary pause. A backlog of appraisals may be part of the reason for the decline, he noted.
The number of housing units available for sale rose 0.9% in July to a total of 2.130 million houses, lifting the months supply to 4.7 months at the current sales pace from 4.5 months in June.
Wednesday, August 24, 2016 - 09:14 US Jul Bldg Permits Revised Down To -0.8% To 1.144 Mln Unit Rate 0
--July Permits Originally Reported -0.1% To 1.152 Mln Unit Rate
WASHINGTON (MNI) - The number of U.S. building permits issued in July was revised down to a 0.8% decrease to a 1.144 million unit annual rate, the Commerce Department's Bureau of the Census said Wednesday.
Permits issued were originally reported down 0.1% to a 1.152 million unit rate.
Wednesday, August 24, 2016 - 07:00 US MBA Text: Mkt Composite -2.1%, Refis -3% Aug 19 Wk 0
WASHINGTON (MNI) - The following is the text of the Mortgage Bankers Association's Mortgage Applications Survey released Wednesday morning:
Mortgage applications decreased 2.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 19, 2016.
The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3 percent compared with the previous week. The Refinance Index decreased 3 percent from the previous week.
Wednesday, August 24, 2016 - 04:38 Japan Govt Repeats Econ on Moderate Recovery, Risks Remain 0
TOKYO (MNI) - The Japanese economy is on a moderate recovery track despite showing some soft spots, the government maintained in its monthly economic report released Wednesday.
The government also upgraded its view of public investment for the first time in 27 months, saying that the stimulus effect from the supplementary budget of last fiscal year was beginning to show. While keeping its overall economic assessment, the government said public investment is "firm" after a recent decline.
Consumer spending, factory output and exports all remain flat, the report said.
The monthly report follows last week's GDP data, which showed the economy stalled in the April-June quarter.