Daily
Market Color
08/05/2013
Economic
Reports & Headlines
Three reports were released over
the weekend that merit extra attention. Japan’s service PMI came in lower than
expected for July, 50.6 Vs 52.1.
China’s service PMI expanded in
line with consensus for July, 51.3.
Retail sales in Australia were
flat for June on a monthly basis, 0.0% Vs 0.4%.
Today is service PMI day for
July. We got a read on the service sector in a few European countries and the
US. Below are the actual figures versus Econoday’s consensus. Any reading above
50 indicates an expansion while readings below 50 indicate a contraction.
France: 48.6 Vs 48.3
Germany: 51.3 Vs 52.5
UK: 60.2 Vs 57.1
Eurozone: 49.8 Vs 49.6
US: 56.0 Vs 53.0
The UK and the US are showing
robust activity in the service sector.
Retails sales in the Eurozone was
in line with expectations for June by declining 50bps.
On the Australian front, the
country’s house price index surpassed analysts’ expectations in the second
quarter on a quarterly basis, 2.4% Vs 1.0%.
Australia’s trade surplus for
June lower than expected, A$602bn Vs A$800bn.
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