CFD Markets News and Forecasts — 07-09-2018

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Part-time employment declined by 92,000 while full-time employment edged up. At the same time, the unemployment rate increased 0.2 percentage points to 6.0%.

On a year-over-year basis, employment grew by 172,000 or 0.9%. Full-time employment increased (+326,000 or +2.2%), while the number of people working part-time declined (-154,000 or -4.3%). Over the same period, total hours worked were up 1.6%.

Employment declined in Ontario and increased in Alberta and Manitoba. Employment was little changed in the other provinces.

In August, employment decreased in professional, scientific and technical services; wholesale and retail trade; and construction. At the same time, employment was up in business, building and other support services.

Public sector employment fell, while the number of private sector employees and self-employed workers was little changed.

Employment fell for both women and men aged 55 and over, while it was little changed for the other demographic groups.

In August, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents to $27.16. Over the year, average hourly earnings have increased by 77 cents, or 2.9 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $22.73 in August.

Total nonfarm payroll employment increased by 201,000 in August, and the unemployment rate was unchanged at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, wholesale trade, transportation and warehousing, and mining.

The unemployment rate remained at 3.9 percent in August, and the number of unemployed persons, at 6.2 million, changed little.

In August, health care employment rose by 33,000, with job gains in ambulatory health care services (+21,000) and hospitals (+8,000). Health care has added 301,000 jobs over the year.

Wholesale trade employment increased by 22,000 in August and by 99,000 over the year. Durable goods wholesalers added 14,000 jobs over the month and accounted for about two-thirds of the over-the-year job gain in wholesale trade.

Caterpillar (CAT) initiated with a Perform at Oppenheimer

He also added that he was ready to simplify the control procedure. The question of an open border with Northern Ireland is one of the most acute in the negotiations. A more flexible approach can facilitate the process of concluding an agreement.

• 'We are open to discussing other backstops'

• House prices in the three months to August increased by 3.7% against the same period a year earlier with the average house showing little change from last month at £229,958

• On a monthly basis, prices remained steady, seeing a small rise of 0.1% in August, while in the latest quarter (June-August) prices were 1.9% higher than in the preceding three months (March-May 2018)

Russell Galley, Managing Director, Halifax, said: "House prices picked up in August, with the annual rate of growth rising from 3.3% in July to 3.7%. With the average house price now £229,958 prices in the three months to August were also 1.9% higher than in the previous quarter. "While the pace of employment growth has recently slowed, a low unemployment rate and a gradual pickup in wage growth are helping to support household finances. This has been accompanied by interest rates still remaining at a historically low rate and a stable, yet constrained, supply of new homes onto the market further supporting house prices".

Seasonally adjusted GDP rose by 0.4% in both the euro area (EA19) and the EU28 during the second quarter of 2018, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2018, GDP had also grown by 0.4% in both areas. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in both the euro area and the EU28 in the second quarter of 2018, after +2.4% and +2.3% respectively in the previous quarter. During the second quarter of 2018, GDP in the United States increased by 1.0% compared with the previous quarter (after +0.5% in the first quarter of 2018). Compared with the same quarter of the previous year, GDP grew by 2.9% (after +2.6% in the previous quarter).

In July 2018, output kept growing in the manufacturing industry (+0.5% after +0.7% in June) as well as in the whole industry (+0.7% after +0.7%).

Manufacturing output grew over the last three months (+0.5%). It was virtually stable in the overall industry.

Over the last three months, output soared in the manufacture of transport equipment (+4.0%). It was almost stable in "other manufacturing". Conversely, it diminshed sharply in mining and quarrying, energy, water supply (−2.3%) and in the manufacture of coke and refined petroleum products (−3.9%), and more slightly in the manufacture of food products and beverages (−0.3%) and in the manufacture of machinery and equipment goods (−0.2%).

According to surveys by the State Secretariat for Economic Affairs (SECO), at the end of August 2018 107,893 unemployed people were registered at the regional employment agencies (RAV), 1,841 more than in the previous month. The unemployment rate remained at 2.4% in the month under review. Compared to the same month of the previous year, unemployment fell by 27,685 people (-20.4%). Youth unemployment (aged 15-24) increased by 2'691 (+ 22.8%) to 14'498. Compared to the same month last year, this represents a decrease of 4,254 people (-22.7%).

In July 2018, production in industry was down by 1.1% from the previous month on a price, seasonally and calendar adjusted basis according to provisional data of the Federal Statistical Office (Destatis). In June 2018, the revised figure shows an decrease of 0.7% (primary -0.9%) from May 2018.

In July 2018, production in industry excluding energy and construction was down by 1.9%. Within industry, the production of capital goods decreased by 2.5% and the production of consumer goods by 0.9%. The production of intermediate goods showed a decrease of 1.4%. The Energy production remained at the same level of the previous month and the production in construction increased by 2.6%

Germany exported goods to the value of 111.0 billion euros and imported goods to the value of 94.5 billion euros in July 2018. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 7.6% and imports by 12.0% in July 2018 year on year. After calendar and seasonal adjustment, exports were down 0.9% and imports were up 2.8% compared with June 2018.

The foreign trade balance showed a surplus of 16.5 billion euros in July 2018. In July 2017, the surplus amounted to 18.8 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 15.8 billion euros in July 2018.