Re: {LONGTERMINVESTORS} News & Misc. items - Thread

 MACRO

US

·         U.S. economic growth was a bit more sluggish than initially thought in the second quarter as businesses aggressively ran down stocks of unsold goods, offsetting a spurt in consumer spending.

·         Gross domestic product expanded at a 1.1 percent annual rate, the Commerce Department said on Friday in its second estimate of GDP. That was slightly down from the 1.2 percent rate reported last month.

 

Japan

·         Japanese inflation continued to disappoint in July, according to data released on Friday, with consumer prices dropping for a fifth straight month in the latest blow to Tokyo's faltering war on deflation.

·         The 0.5 percent decline in July was worse than the 0.4 percent average fall expected by economists. The weak inflation figures will heap more pressure on Japan's central bank for another round of stimulus.

 

UK

·         A rise in consumer spending helped the UK economy power ahead in the months running up to the EU referendum, with little sign the vote hurt investment or the wider economy, official statisticians have said.

·         The Office for National Statistics confirmed a previous estimate that GDP growth picked up to 0.6% in the second quarter from 0.4% in the first quarter.

 

Singapore

·         Singapore's industrial production declined at a faster pace in July, highlighting the headwinds the manufacturing sector is facing from weak global demand. Manufacturing output last month shrank 3.6 per cent year on year, after dipping 0.3 per cent in June.

·         Factory output was expected to edge up 0.9 per cent compared to a year ago, helped by a comparison against a low base, according to economists polled by Reuters.

 

Source: CNBC, The Guardian, APF, The Straits Times, Phillip Securities Research (Singapore)

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