Macroeconomy

  • 2015-07-03 04:46


    - UK Services PMI at 58.5, Composite PMI 57.4 - CIPS/Markit: PMIs Point To Q2 Growth +0.5% q/q vs 0.4% q/q

    LONDON (MNI) - UK growth strengthened in Q2, PMI data suggest, with the dominant services sector driving increases in output.

    The CIPS/Markit composite PMI rose to 57.4 in June, up from 55.8 in May with the survey compilers saying that points to growth of 0.5% in Q2, up from the 0.4% official outturn for Q1.

    The services PMI at 58.5 pointed to marked and accelerated growth in June, CIPS/Markit said, after having hit a five-month low of 56.5 in May.

    Commenting on the data, Chris Williamson, Chief Economist at Markit warned that growth continued to look unbalanced with services expanding far faster than construction or industrial production.

    "Hiring and in

  • 2015-07-03 03:52


    BEIJING (MNI) - China Investment Corporation, the country's sovereign wealth fund, said its overseas investment returns fell to 5.47% last year from 9.33% in 2013.

    CIC said its assets increased to $746.7 billion in 2014 from $653.2 billion the previous year. Its cumulative investment return was 5.66% last year from 5.70% in 2013, the fund said in its annual report.

    Ding Xuedong, Chairman of CIC, noted increasing difficulties in overseas investments due to divergent policies and volatile financial markets. He also cited opportunities in infrastructure related to the Chinese government's "One Belt, One Road" regional investment plan.

    CIC said it reduced its positions in emerging markets bonds and investments in U.S.

  • 2015-07-02 17:12


    --Retransmitting Story Headlined 8:30 ET Friday
    --Payrolls +223k; Unemp Rate 5.3% (5.284); 2-Mos Revisions -60K

    WASHINGTON (MNI) - Solid June payrolls were right on expectations and the marked improvement in the unemployment rate to 5.3% was exaggerated by seasonal factors that may have reflected all the school makeup days for the severe winter's snow.

    The Bureau of Labor Statistics Thursday reported June payrolls grew by a seasonally adjusted 223,000 while actual payrolls without the adjustment expanded by 455,000, a result somewhat tarnished by the subtraction of 60,000 previously reported paychecks from April and May through revisions.

    The labor participation dropped to the lowest rate since October 1977, just 62.6% as the unadjusted labor force grew o

  • 2015-07-02 10:00


    By Kevin Kastner

    WASHINGTON (MNI) - The value of new factory orders fell 1.0% in May, well below the 0.3% decline expected in an MNI survey due to a downward revision to durable goods orders and only a modest gain in nondurables orders, data released by the Commerce Department Thursday morning showed.

    The May decline followed a downward revision to April factory orders, which are now down 0.7% after being originally reported down 0.4%.

    Total durable goods orders are now reported to have declined 2.2% in May, revised downward from the 1.8% drop reported in the advance estimate.

    Nondurable goods orders posted a 0.2% increase, led by a 1.4% rise in petroleum and coal products. Nondurables shipments are equivalent to orders in this report.

  • 2015-07-02 08:30


    WASHINGTON (MNI) - The following are the changes in unadjusted initial claims by state for the week ended June 20.

  • 2015-07-02 08:15


    --Retransmitting Story Published 13:30 ET Wednesday
    --Info Technology, Mfg Skilled Trades Candidates Seeing Multiple Offers
    --Recruiters: Wage Gains Still Lagging, But Pay 'Conversations' Ratcheting Up

    NEW YORK (MNI) - June brought another month of lively permanent-hiring activity, as employers snapped up new personnel to accommodate growing business and to secure talent in an increasingly competitive labor market, according to recruiters around the country.

    Personnel specialists told MNI that the economic expansion continues to drive energetic payroll growth, but skills shortages persist. In information technology and the skilled trades of manufacturing, candidates are seeing multiple offers.

  • 2015-07-02 02:27


    LONDON (MNI) - UK annual house price inflation fell again in June, with the annual rate of price growth falling the the lowest level in two years, a survey released Wednesday recorded.

    The Nationwide House Price Index showed that house prices fell 0.2% on the month, but the annual rate of growth slowed to 3.3% in May after a 4.6% rise in the previous month.

    The annual rate of growth recorded the 8th decline in the last 9 months and was the slowest since the 1.9% recorded in June 2013.

    Robert Gardner, Nationwide's Chief Economist, said the market was continuing a trend of slowing growth in prices that started in the Summer of 2014.

    "The annual pace of house price growth continued to slow in June, moderating to 3.3% from 4.6% in May.

  • 2015-07-02 02:10


    --BOJ: Japan June Consumer Sentiment Index -15.4 Vs Mar -24.6
    --BOJ: Japan June Sentiment Outlook Index -13.9 Vs Mar -15.9
    --BOJ: June Inflation Expectations for 12 Months Ahead Nearly Flat
    --BOJ: June Inflation Expectations for 5 Years Ahead Also Flat

    TOKYO (MNI) - Japanese consumer confidence in June improved from three months earlier for the second consecutive quarter as fewer people saw their income drop on year and more people expected higher income ahead while concern about job security eased, according to the results of the Bank of Japan's quarterly survey released Thursday.

    The survey also showed more people increased spending in the past year in light of gains in their financial asset values and higher consumer prices, and more respondents also plan to raise spending

  • 2015-07-01 20:26


    --BOJ Jun Tankan: Firms on Avg See +1.4% CPI in 1 Yr; Mar +1.4%
    --BOJ Jun Tankan: Firms on Avg See +1.5% CPI in 3 Yrs; Mar +1.6%
    --BOJ Jun Tankan: Firms on Avg See +1.6% CPI in 5 Yrs; Mar +1.6%

    TOKYO (MNI) - The Bank of Japan Thursday released data on the inflation outlook measured in CPI (excluding the impact of tax changes) among companies polled in its quarterly Tankan survey for June. The main results of the survey conducted from May 27 to June 30 were released Wednesday.

    FACTORS: In the June survey, companies on average revised down their longer-term inflation outlook for the next three years slightly amid zero inflation now while keeping their views on one-year and five-year time frames, all below the BOJ's 2% target.

  • 2015-07-01 13:30


    --Info Technology, Mfg Skilled Trades Candidates Seeing Multiple Offers
    --Recruiters: Wage Gains Still Lagging, But Pay 'Conversations' Ratcheting Up

    NEW YORK (MNI) - June brought another month of lively permanent-hiring activity, as employers snapped up new personnel to accommodate growing business and to secure talent in an increasingly competitive labor market, according to recruiters around the country.

    Personnel specialists told MNI that the economic expansion continues to drive energetic payroll growth, but skills shortages persist. In information technology and the skilled trades of manufacturing, candidates are seeing multiple offers.