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Australia's Retail Sales Increase In June



Australia's retail sales increased in June largely driven by cafes, restaurants and takeaway food services, preliminary data from the Australian Bureau of Statistics showed Wednesday.

Retail turnover advanced 2.4 percent on a monthly basis in June but slower than the 16.9 percent increase in May.

Year-on-year, turnover grew 8.2 percent.

Rises in June were led by cafes, restaurants and takeaway food services, and clothing, footwear and personal accessory retailing. While some restrictions on trade remained in June, many businesses in these industries saw a full month of trade, having been closed for the first week of May, the ABS said.

Turnover in these industries remained below the levels of June 2019.

Food retailing gained 0.9 percent, with a rise in supermarkets and grocery stores offset by a fall in liquor retailing.

Meanwhile, household goods retailing fell in June but this industry continued to trade significantly above the levels of June 2019. Department stores dropped 12 percent following a large rise in May.

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European Economics Preview: Germany GfK Consumer Confidence Data Due



Consumer confidence from Germany is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Germany's Gfk consumer confidence survey results are due. The forward-looking consumer sentiment index is expected to rise to -5 in August from -9.6 in July.

In the meantime, unemployment data is due from Statistics Norway. At 2.45 am ET, the statistical office Insee is scheduled to release France's business confidence survey data. Economists forecast the index to climb to 85 in July from 77 in June.

At 3.30 am ET, Statistics Sweden publishes unemployment data for June.

Half an hour later, unemployment data is due from Poland. The jobless rate is seen at 6.2 percent in June versus 6 percent in May.

At 6.00 am ET, the Confederation of British Industry is slated to issue Industrial Trends survey data. The order book balance is forecast to improve to -38 in July from -58 in June.

At 7.00 am ET, Turkey's central bank is set to announce its interest rate decision. The bank is expected to hold its one-week repo rate at 8.25 percent.

At 10.00 am ET, Eurozone flash consumer confidence survey data is due. The sentiment index is seen rising to -12 in July from -14.7 in June.

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European Economics Preview: Eurozone Flash PMI Data Due



Flash Purchasing Managers' survey data from euro area and retail sales from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales for June. Economists forecast sales to rise 8 percent on month, slower than the 12 percent increase in May.

At 3.00 am ET, producer prices from Spain and industrial production from Austria are due. At 3.15 am ET, IHS Markit is scheduled to issue France's flash Purchasing Managers' survey data. The composite PMI is seen rising to 53.5 in July from 51.7 in June.

At 3.30 am ET, Germany's flash PMI data is due. Economists forecast the composite indicator to improve to 50.3 in July from 47.0 in June.

At 4.00 am ET, IHS Markit is set to publish euro area PMI data. The flash composite output index is expected to rise to 51.1 in July from 48.5 in June.

Half an hour later, UK flash composite PMI survey data is due. The composite index is seen at 51.1 in July versus 47.7 in the previous month.

At 6.30 am ET, Russia's central bank is set to announce its interest rate decision. Economists expect the central bank to cut its key rate to 4.25 percent from 4.50 percent.

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China's Industrial Profits Increase At Faster Pace



China's industrial profits increased at a faster pace of June as easing of the coronavirus containment measures boosted manufacturing activity, data from the National Bureau of Statistics showed Monday.

Industrial profits grew 11.5 percent on a yearly basis in June, following a 6 percent rise in May.

Profits of steel 35.3 percent and that of non-ferrous metals grew 24.1 percent in June.

Nonetheless, the statistical office said the sustainability of industrial profits is uncertain, the statistical office.

In the first half of 2020, industrial profits declined 12.8 percent from the same period last year. Iris Pang, an economist at ING said the decline in Covid-19 cases and relaxation of restrictions are positive for domestic demand and for related manufacturing activity. Some recovery from Covid-19 in parts of the rest of the world will also have helped China's manufacturing output and profitability in June, the economist said.

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Thai Stock Markets Closed On Tuesday



On a very light day on the economic calendar, the markets in Thailand are closed on Tuesday in observance of King Maha Vajiralongkorn's birthday, and will reopen on Wednesday.

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European Economics Preview: UK Mortgage Approvals Data Due



Mortgage approvals the UK and consumer confidence from France are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's import prices for June. Economists forecast prices to fall 5.1 percent on year, slower than the 7 percent decrease seen in May.

At 2.45 am ET, France's statistical office Insee is set to publish consumer sentiment survey results. The confidence index is seen rising to 99 in July from 97 in June. At 3.00 am ET, the Swedish National Institute of Economic Research releases economic tendency survey data.

In the meantime, retail sales from Spain, unemployment from Hungary and foreign trade figures from Turkey are due. Economists forecast Spain retail sales to decline 17.6 percent annually in June, following a 19 percent drop in May.

At 4.00 am ET, producer prices from Italy and manufacturing PMI data from Austria are due.

Half an hour later, Bank of England is scheduled to issue UK mortgage approvals data for June. The number of mortgages approved in June is forecast to advance to 33,900 from 9,273 in May.

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Australia Building Approvals Sink 4.9% In June



The total number of building permits issued in Australia was down a seasonally adjusted 4.9 percent on month in June, the Australian Bureau of Statistics said on Thursday - coming in at 12,213.

That missed expectations for an increase of 1.5 percent following the 15.8 percent contraction in May.

On a yearly basis, consents were down 15.8 percent.

Consents for private sector houses were down 5.7 percent on month and 7.0 percent on year at 8,070 - while consents for private sector dwellings excluding houses sank 5.3 percent on month and 30.5 percent on year at 3,782.

The seasonally adjusted estimate of the value of total building approved rose 7.3 percent in June. The value of non-residential building rose 17.8 percent, while the value of residential building rose 0.1 percent.

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Japan Industrial Production Gains 2.7% In June



Industrial output in Japan was up a seasonally adjusted 2.7 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.

That beat forecasts for a gain of 1.2 percent following the 8.9 percent decline in May.

On a yearly basis, industrial production sank 17.7 percent - again beating forecasts for a fall of 20 percent following the 26.3 percent contraction in the previous month.

Industries that contributed to the monthly increase included motor vehicle, production machinery and plastic products - offset by weakness from chemicals, paper and other manufacturing.

Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it has bottomed out and shows signs of picking up movement.

Shipments were up 5.2 percent on month and down 16.3 percent on year, while inventories fell 2.4 percent on month and 3.4 percent on year. The inventory ratio sank 7.0 percent on month but surged 22.7 percent on year.

According to the METI's Survey of Production Forecast, output is expected to rise 11.3 percent on month in June and 3.4 percent in August.

Also on Friday, the Ministry of Internal Affairs and Communications said that Japan's unemployment rate came in at a seasonally adjusted 2.8 percent in June. That beat forecasts for 3.1 percent and was down from 2.9 percent in May.

The job-to-applicant ration fell to 1.11, missing expectations for 1.16 and down from 1.2 in the previous month.

The number of employed persons in June was 66.70 million, a decrease of 770,000 from the previous year. The number of unemployed persons in June was 1.95 million, an increase of 330,000 from the previous year.

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Malaysia Manufacturing Sector Steady In July - Markit Economics



The manufacturing sector in Malaysia was roughly flat in July, the latest survey from Markit Economics showed on Monday with a manufacturing PMI score of 50.0.

That's down from 51.0 in June and it now sits right on the line that separates expansion from contraction.

Individually, output rose for the second straight month, while firms remained optimistic about their 12-month outlook.

Input prices rose at their fastest pace since October 2018.

A lack of pressure on capacity, and efforts to limit input costs, led to further caution among manufacturers when making hiring decisions. Employment was consequently scaled back for the fourth month running.

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European Economics Preview: Eurozone PPI Data Due



Producer price data from euro area is due on Tuesday, headlining a light day for the European economic news.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss consumer sentiment data for the third quarter.

At 3.00 am ET, monthly unemployment data from Spain and producer prices from Hungary are due.

In the meantime, consumer and producer price figures are due from Turkey. Inflation is expected to ease to 12.1 percent in July from 12.62 percent in June.

At 5.00 am ET, Eurostat is slated to issue Eurozone producer prices for June. Economists forecast producer prices to fall 3.9 percent annually, following a 5 percent decrease in May.

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