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IFX Gertrude
post Aug 31, 2018, 05:16 AM
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post Aug 31, 2018, 05:16 AM
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China Manufacturing PMI Rises To 51.3 In August



The manufacturing sector in China continued to expand in August, and at a slightly faster rate, the latest survey from the National Bureau of Statistics showed on Friday with a PMI score of 51.3.

That beat expectations for a score of 51.0 and was up from 51.2 in July.

The bureau also said that the non-manufacturing PMI came in at 54.2 - also exceeding expectations for 53.7 and up from 54.0 in the previous month.

The composite index had a score of 53.8, up from 53.6 a month earlier.

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IFX Gertrude
post Sep 3, 2018, 06:06 AM
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post Sep 3, 2018, 06:06 AM
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Japan Manufacturing Growth Improves In August



Japan's manufacturing growth improved slightly in August, final survey figures from IHS Markit showed Monday.

The Nikkei flash manufacturing Purchasing Managers' Index, or PMI rose to 52.5 in August from 52.3 in July. That was in line with the flash data published on August 23.

Any reading above 50 indicates expansion in the sector.

In line with stronger inflows of new work, firms raised production and employment in August.

However, business sentiment dipped amid uncertainty arising from global geopolitics. On the price front, input price inflation remained sharp in August and selling prices grew at the fastest rate in almost ten years.

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IFX Gertrude
post Sep 4, 2018, 06:00 AM
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post Sep 4, 2018, 06:00 AM
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South Korea Q2 GDP Growth Slows More Than Estimated



South Korea's economic growth eased more than initially estimated in the three months ended June, latest figures from Bank of Korea showed Tuesday.

Gross domestic product advanced 0.6 percent sequentially in the second quarter, revised down from 0.7 percent rise seen in the flash report.

During the first quarter, the rate of expansion was 1.0 percent.

On the expenditure side, private consumption grew 0.3 percent over the quarter, while gross fixed capital formation declined by 2.9 percent.

Exports of goods and services gained 0.4 percent, while imports logged a fall of 3.0 percent

On an annual basis, GDP expanded at a steady pace of 2.8 percent in the June quarter.

The government forecasts the economy to grow 2.9 percent this year. The Bank of Korea also projected 2.9 percent growth for 2018, and 2.8 percent for 2019.

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IFX Gertrude
post Sep 5, 2018, 05:17 AM
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post Sep 5, 2018, 05:17 AM
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Australia GDP Rises 0.9% In Q2



Australia's gross domestic product expanded a seasonally adjusted 0.9 percent on quarter in the second quarter of 2018, the Australian Bureau of Statistics said on Wednesday.

That beat forecasts for a gain of 0.7 percent following the 1.0 percent gain in the three months prior.

On a yearly basis, GDP was up 3.4 percent - also exceeding forecasts for 2.9 percent and up from 3.1 percent in the previous three months.

Household final consumption expenditure increased 0.7 percent during the quarter, contributing 0.4 percentage points to GDP growth.

"Growth in domestic demand accounts for over half the growth in GDP, and reflected strength in household expenditure," Chief Economist for the ABS, Bruce Hockman, said.

General government final consumption expenditure increased 1.0 percent in the June quarter. Public investment remained at elevated levels reflecting continued work on infrastructure projects across the nation.

Investment in new dwellings increased 3.6 percent for the quarter. with strength observed in Victoria and South Australia. This strength was reflected in the Construction industry, which grew 1.9 percent for the quarter.

Compensation of employees increased by 0.7 percent, while net exports contributed 0.1 percentage points to GDP growth.

The terms of trade fell 1.3 percent on quarter but advanced 2.0 percent on year.

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IFX Gertrude
post Sep 6, 2018, 06:19 AM
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post Sep 6, 2018, 06:19 AM
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Australia's Trade Surplus Falls In July



Australia's trade surplus decreased in July, the Australian Bureau of Statistics reported Thursday.

The trade surplus fell to a seasonally adjusted A$1.55 billion in July from A$1.94 billion in June. Nonetheless, this was above the expected level of A$1.45 billion.

Data showed that exports dropped 1 percent from the previous month, while imports remained broadly unchanged in July.

Export growth is likely to slow further through the second half of the year given the bulk of Australia's major LNG, iron ore and coal mines are now approaching output capacity and scope for further marginal increases appears limited, Tom Kennedy, an economist at J.P. Morgan, said.

As a result, the net export contribution to real GDP growth is expected to fade and become neutral by end-2018, the economist added.

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IFX Gertrude
post Sep 7, 2018, 05:55 AM
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post Sep 7, 2018, 05:55 AM
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Malaysia's Industrial Output Growth Improves



Malaysia's industrial production growth accelerated more-than-expected in July, the Department of Statistics reported Friday.

Industrial output grew 2.6 percent year-on-year in July, faster than June's 1.1 percent increase. Output was expected to climb 1.4 percent.

The growth in July was supported by a 5.2 percent increase in manufacturing and a 4.5 percent rise in electricity. Meanwhile, mining output logged a decline of 5.9 percent. On a monthly basis, industrial production advanced 2.6 percent, reversing a 1 percent drop in June.

Another report from the statistical office showed that manufacturing sales expanded 9.6 percent from last year to MYR 70 billion in July.

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IFX Gertrude
post Sep 10, 2018, 06:04 AM
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post Sep 10, 2018, 06:04 AM
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Ireland Construction Growth Remains Strong In August



Ireland's construction sector growth remained elevated in August, despite easing from July, survey data from IHS Markit showed Monday.

The Ulster Bank construction Purchasing Managers' Index dropped to 58.3 in August from 60.7 in July. However, any reading above 50 indicates expansion in the sector.

"The August survey results were also notable as they marked the 60th consecutive monthly expansion of construction activity, indicating that survey respondents have now been in recovery mode for five years following the extreme collapse which took hold during the financial crisis," Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, said.

Among three monitored categories, the fastest growth was on residential projects. but, the pace of expansion moderated from July. The rate of growth in commercial activity also eased, while civil engineering activity rose for the second straight month.

New orders increased sharply, though the rate of growth slowed for the third successive month. Rising workloads forced companies to raise their staffing levels and purchasing activity in August.

On the price front, the rate of input price inflation quickened amid rising costs for a range of raw materials.

Firms were confident that new work on housing projects will help lead to increases in construction activity over the coming year.

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IFX Gertrude
post Sep 11, 2018, 05:41 AM
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post Sep 11, 2018, 05:41 AM
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Japan M2 Money Stock Gains 2.9% On Year In August



The M2 money stock in Japan was up 2.9 percent on year in August, the Bank of Japan said on Tuesday - coming in at 1,006.1 trillion yen.

That was unchanged from the July reading following a downward revision from 3.0 percent.

The M3 money stock was up an annual 2.5 percent at 1,337.7 trillion yen - also unchanged from the previous month following a downward revision from 2.6 percent.

The L money stock was up 2.2 percent to 1,782.7 trillion yen, down from 2.3 percent a month earlier.

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IFX Gertrude
post Sep 12, 2018, 06:32 AM
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post Sep 12, 2018, 06:32 AM
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Australia's Consumer Sentiment Deteriorates In September



Australia's consumer confidence deteriorated in September reflecting political instability and rises in mortgage interest rates, data from Westpac showed Wednesday.

The Westpac Melbourne Institute Index of Consumer Sentiment declined 3 percent to 100.5 in September. This was weakest since November last year.

Although the index remained in positive territory, the reading was just above the 100 level.

Data suggested that confidence has been affected by increases in mortgage interest rates, political instability and household budget pressures.

All sub-indices recorded declines in September with the 'economic outlook, next 5 years' showing the biggest move, a 5.8 percent decrease.

Consumer views around family finances remained notably weaker. The 'finances vs a year ago' and 'finances, next 12 months' sub-indexes both registered 3.6 percent falls in September.

Westpac said aside from the rise in mortgage interest rates, household budgets were also coming under persistent pressure from slow growth in wages, declining house prices in Sydney and Melbourne and the rising cost of petrol.

Further, data showed that consumers remained relatively downbeat on spending. The 'time to buy a major household item' sub-index declined 2.2 percent in September.

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IFX Gertrude
post Sep 13, 2018, 05:59 AM
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post Sep 13, 2018, 05:59 AM
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Japan Core Machine Orders Surge 11.0% In July



Core machine orders in Japan were up a seasonally adjusted 11.0 percent on month in July, the Cabinet Office said on Thursday - coming in at 918.6 billion yen.

That beat expectations for a gain of 5.5 percent following the 8.8 percent slide in June.

On a yearly basis, core machine orders jumped 13.9 percent - also exceeding forecasts for 4.3 percent after adding 0.3 percent in the previous month.

The overall value of machine orders in Japan spiked 18.8 percent on month and 11.5 percent on year, standing at 2,630.4 billion yen.

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IFX Gertrude
post Sep 17, 2018, 05:50 AM
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post Sep 17, 2018, 05:50 AM
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UK Household Finance Index Remains Close To Record High



UK households' perceptions of financial wellbeing remained close to survey-high in September, data from IHS Markit showed Monday.

The household finance index held steady at 45.9 in September, which was the second highest score since the survey began in February 2009.

Household finances were underpinned by improved earnings from employment and favorable labor market conditions.

UK households' outlook regarding future budgets strengthened in September. Moreover, income from employment increased in September.

At the same time, job security perceptions deteriorated, in contrast to the generally upbeat signal from the current and future household finance assessements.

Although expectations of further inflation were sustained in September, the proportion of households anticipating rising living costs was the lowest since November 2016, data showed.

"The HFI survey pointed to the second-lowest level of pessimism about future finances since the EU referendum," Joe Hayes, an economist at IHS Markit, said.

Nonetheless, the latest survey still raised some concerns about the outlook for consumer spending, Hayes added.

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IFX Gertrude
post Sep 18, 2018, 05:07 AM
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post Sep 18, 2018, 05:07 AM
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Australia House Prices Slide 0.7% In Q2



House prices in Australia were down 0.7 percent on quarter in the second quarter of 2018, the Australian Bureau of Statistics said on Tuesday - in line with expectations and unchanged from the three months prior.

The capital city residential property price indexes fell in Sydney (-1.2 percent), Melbourne (-0.8 percent), Perth (-0.1 percent) and Darwin (-0.9 percent), and rose in Brisbane (+0.7 percent), Hobart (+3.0 percent), Adelaide (+0.3 percent) and Canberra (+0.6 percent).

On a yearly basis, house prices dipped 0.6 percent versus expectations for a loss of 0.7 percent after rising 2.0 percent in Q1.

Annually, residential property prices fell in Darwin (-6.1 percent), Sydney (-3.9 percent) and Perth (-0.9 percent), and rose in Hobart (+15.5 percent), Canberra (+3.0 percent), Melbourne (+2.3 percent), Adelaide (+2.1 percent) and Brisbane (+1.7 percent).

The total value of residential dwellings in Australia was A$6,926,538.0 million at the end of the June quarter 2018, falling A$13,321.1 million over the quarter.

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IFX Yvonne
post Sep 19, 2018, 07:37 AM
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post Sep 19, 2018, 07:37 AM
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Malaysia's Inflation Eases More Than Forecast



Malaysia's inflation eased more-than-expected in August on fuel cost, figures from the Department of Statistics showed Wednesday.

Consumer price inflation slowed to 0.2 percent in August, the lowest rate within 42 months, the statistical office said. The rate was expected to drop to 0.4 percent from 0.9 percent in July.

The slowdown was largely driven by cost of fuel which caused the index of transport to rise 2.1 percent compared to the 6.7 percent increase logged in July.

Also, prices of housing, water, electricity, gas and other fuels advanced 2 percent, education by 1.1 percent and food and non-alcoholic beverages rose 0.4 percent, contributing to the increase in annual inflation.

On a monthly basis, consumer prices gained 0.2 percent. During January to August, consumer prices registered an annual growth of 1.3 percent.



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IFX Yvonne
post Sep 20, 2018, 07:36 AM
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post Sep 20, 2018, 07:36 AM
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European Economics Preview: Swiss National Bank Rate Decision Due



The monetary policy assessment from Swiss National Bank is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Switzerland's foreign trade data is due for August.

At 3.00 am ET, average gross wages from Hungary and consumer confidence from Turkey are due.

At 3.30 am ET, the Swiss National Bank is scheduled to release the outcome of its monetary policy meeting. The SNB is expected to hold its interest rate on sight deposits at -0.75 percent and the target range for the three-month Libor between -1.25 percent and -0.25 percent.

At 4.00 am ET, Norges Bank is set to announce its rate decision. The bank is expected to hike its key deposit rate to 0.75 percent from 0.5 percent.

At 4.30 am ET, the Office for National Statistics is scheduled to issue UK retail sales data for August. Sales, including auto fuel, are forecast to drop 0.2 percent on month in August, reversing a 0.7 percent rise in July.



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IFX Yvonne
post Sep 21, 2018, 06:41 AM
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post Sep 21, 2018, 06:41 AM
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European Economics Preview: Eurozone Flash PMI Data Due



Flash Purchasing Managers' survey data from euro area and public sector finance from the UK are due on Friday, headlining a light day for the European economic news.

At 3.00 am ET, IHS Markit publishes France's flash purchasing managers' survey results. The composite PMI is seen falling to 54.6 in September from 54.9 in August.

Half an hour later, Germany's flash composite PMI data is due. Economists forecast the composite index to drop to 55.4 in September from 55.6 in August.

At 4.00 am ET, Eurozone flash PMI results are due. The composite reading is seen at 54.5 in September, unchanged from August.

In the meantime, Statistics Poland publishes retail sales data for August. Economists forecast sales to grow 1 percent on month, following a 0.3 percent drop in July.

At 4.30 am ET, the Office for National Statistics releases UK public sector finance data. The budget deficit is seen at GBP 3.4 billion in August compared to a surplus of GBP 2 billion in July.



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IFX Gertrude
post Sep 24, 2018, 05:51 AM
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post Sep 24, 2018, 05:51 AM
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European Economics Preview: Germany Ifo Business Confidence Data Due



Business sentiment from Germany is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Finland publishes producer prices for August. Prices had increased 0.4 percent on month in July.

At 3.00 am ET, the Czech Statistical Office is slated to release consumer and business sentiment survey results.

At 4.00 am ET, Germany's Ifo business sentiment survey data is due. The business sentiment index is seen falling slightly to 103.6 in September from 103.8 in August.

At 9.00 am ET, European Central Bank President Mario Draghi is set to speak at the ECON Hearing of the European Parliament in Brussels, Belgium.

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IFX Gertrude
post Sep 25, 2018, 05:29 AM
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post Sep 25, 2018, 05:29 AM
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BoJ Minutes: Japanese Economy Continues To See Moderate Expansion



Members of the Bank of Japan's monetary policy meeting said that Japan's economic expansion is continuing at an acceptable pace, minutes from the bank's meeting on July 30 and 31 revealed on Tuesday.

At the meeting, the central bank retained its massive monetary stimulus as expected, including the -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.

"The staff explained that one option would be to indicate that the Bank intended to maintain the current extremely low levels of short- and long-term interest rates for an extended period of time, taking into account uncertainties regarding economic activity and prices," the minutes said.

The bank will continue to purchase government bonds so that the yield on the 10-year Japanese government bonds remains at around zero percent.

The BoJ is set to conduct purchases of Japanese government bonds in a flexible manner so that the outstanding amount will increase at an annual pace of about JPY 80 trillion.

Annual inflation is expected to gradually continue rising towards the target goal of 2 percent, the minutes said. The inflation outlook was downgraded, while maintaining growth projections.

The inflation forecast for fiscal 2018 was trimmed to 1.1 percent from 1.3 percent. Likewise, the projection for fiscal 2019 was lowered to 1.5 percent from 1.8 percent and that for 2020 to 1.6 percent from 1.8 percent.

"With regard to the outlook, the year-on-year rate of change in the CPI (all items less fresh food) was likely to increase gradually toward 2 percent, mainly on the back of a rise in medium- to long-term inflation expectations with the output gap remaining positive," the minutes said.

At the same time, the bank maintained its growth forecast for both fiscal 2019 and fiscal 2020 at 0.8 percent.

Overseas economies are generally seeing continued growth, the minutes said, although global financial markets are intermittently seeing periods of instability.

"The Bank will examine the risks considered most relevant to the conduct of monetary policy and make policy adjustments as appropriate," the minutes said.

Also on Tuesday, the central bank said that producer prices in Japan were up 1.3 percent on year in August - exceeding expectations for an increase of 1.1 percent, which would have been unchanged from the July reading.

On a monthly basis, producer prices were unchanged after rising 0.1 percent in the previous month.

Among the individual components, prices were up for advertising services, information and communications and real estate.

Prices were down for architectural services and hotels.

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IFX Gertrude
post Sep 26, 2018, 06:02 AM
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post Sep 26, 2018, 06:02 AM
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New Zealand Has NZ$1.484 Billion Trade Deficit



New Zealand had a record merchandise trade deficit of NZ$1.484 billion in August, Statistics New Zealand said on Wednesday - representing 37 percent of exports.

That missed forecasts for a shortfall of NZ$925 million following the revised deficit of NZ$196 million in July (originally -NZ$143 million).

The average monthly deficit in August over the last five years was NZ$1.0 billion. "This month's rise in imports to near record levels occurs at the time of year when exports are typically at a low point," international statistics manager Tehseen Islam said. Exports were up 9.9 percent on year in August to NZ$4.05 billion - missing forecasts for NZ$4.40 billion and down sharply from NZ$5.34 billion in the previous month.

The leading contributor to the rise was meat products and edible offal, up NZ$137 million (43 percent). This increase was led by sheep meat (up NZ$83 million or 55 percent) and beef (up NZ$45 million or 31 percent).

"New Zealand is exporting more beef and lamb, and getting better prices too," Islam said.

Dairy products were up NZ$80 million (17 percent), led by an increase in butter and other milk fats, up NZ$63 million.

Imports jumped an annual 14.0 percent to NZ$5.54 billion versus expectations for NZ$5.50 billion - roughly unchanged from the previous month.

The leading contributor to the imports rise was petroleum and products, up NZ$186 million (50 percent) from last year. This increase was led by crude oil (up NZ$98 million) and diesel (up NZ$73 million).

Imports of crude oil and other petroleum products tend to fluctuate from month to month. The quantity of crude oil imported in August 2018 fell 13 percent from August 2017, but prices rose by about 60 percent.

The latest unit price for crude oil remains 31 percent lower than the most-recent series peak in May 2012. Imports of vehicles, parts, and accessories also rose in August 2018, up NZ$55 million.

Imports of buses, cars, and trucks all had similar contributions to this rise.

The annual trade deficit was NZ$4.8 billion in August 2018, up from NZ$3.1 billion in August 2017.

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IFX Gertrude
post Sep 27, 2018, 06:05 AM
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post Sep 27, 2018, 06:05 AM
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European Economics Preview: Eurozone Economic Sentiment Data Due



Economic confidence survey from euro area and consumer prices from Germany are due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Germany's GfK consumer confidence data is due. The forward-looking consumer sentiment index is seen unchanged at 10.5 in October.

At 3.00 am ET, unemployment from Hungary and economic tendency survey results from Sweden are due. Sweden's economic tendency index is seen falling to 110.3 in September from 111.5 in August.

At 4.00 am ET, the European Central Bank is set to publish economic bulletin.

Also, the ECB releases M3 money supply data. Economists forecast M3 to grow 3.9 percent on year in August, following a 4 percent rise in July.

In the meantime, Italy's business and consumer sentiment survey results are due.

At 5.00 am ET, European Commission is set to issue euro area economic sentiment survey data. The economic confidence index is expected to fall to 111.2 in September from 111.6 in August.

At 8.00 am ET, Germany's preliminary inflation data is due. Inflation is seen unchanged at 2 percent in September.

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IFX Gertrude
post Sep 28, 2018, 05:25 AM
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post Sep 28, 2018, 05:25 AM
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Japan Industrial Production Adds 0.7% In August



Industrial production in Japan was up 0.7 percent on month in August, the Ministry of Internal Affairs and Communications said in Friday's preliminary reading.

That was shy of forecasts for an increase of 1.4 percent following the 0.1 percent decline in July.

On a yearly basis, industrial production added 0.6 percent - again missing forecasts for an increase of 1.5 percent and down sharply from 2.2 percent in the previous month.

Upon the release of the data, the METI's assessment of industrial production was that it is "picking up slowly but shows signs of decrease in part."

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