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September 26, 2021

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U.S. new home sales beat expectations; supply near 13-year high

Reuters
New home sales increase 1.5% in August; July revised up Median sales price rises 20.1% from year ago WASHINGTON, Sept 24 (Reuters) – Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled buying frenzy.......

China scrambles to fix power crunch, tame runaway raw material markets

Reuters
BEIJING, Sept 24 (Reuters) – Roiled by widening power curbs that have disrupted industrial operations, Chinese commodity producers and manufacturers may finally be getting some relief. Beijing’s top economic planner, the National Development and Reform Commission, said on Friday it will work to resolve the power shortages that have plagued......

U.S. weekly jobless claims unexpectedly rise; labor market recovery on track

Reuters
People line up outside a newly reopened career center for in-person appointments in Louisville, U.S., April 15, 2021. REUTERS/Amira Karaoud Weekly jobless claims increase 16,000 to 351,000 Four-week average of claims at 18-month low Continuing claims rise 131,000 to 2.845 million Business activity slows in September WASHINGTON, Sept 23 (Reuters)......

U.S. existing home sales fall in August; price appreciation slowing

Reuters
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. REUTERS/Mike Blake/File Photo Existing home sales fall 2.0% in August Housing inventory declines 13.4% from a year ago Median house price increases 14.9% from a year ago......

Germany’s Ifo institute slashes 2021 GDP growth forecast to 2.5%

Reuters
: Staff wear protective masks at the Volkswagen assembly line in Wolfsburg, Germany, April 27, 2020. Swen Pfoertner/Pool via REUTERS/File Photo Germany’s next chancellor inherits fragile recovery Supply bottlenecks hold back industrial output Consumption boom on the cards for next year BERLIN, Sept 22 (Reuters) – Germany’s Ifo economic institute......

BOJ more downbeat on exports, output even as recovery seen on track

Reuters
A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon BOJ keeps interest rate targets unchanged BOJ offers bleaker view on export, output Kuroda says Japan’s economy headed for recovery BOJ rolls out......

Labor, building material shortages depress U.S. single-family housing starts

Reuters
A carpenter works on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones Housing starts increase 3.9% in August; July revised up Single-family starts fall 2.8%; multi-family jump 21.6% Building permits jump 6.0%; single-family......

Erdogan’s waning patience: Four questions for Turkey’s central bank

Reuters
Turkey’s Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. REUTERS/Umit Bektas//File Photo As world preps for tighter policy, Turkey looks to ease Erdogan has urged rate cuts despite rising inflation ISTANBUL, Sept 20 (Reuters) – Turkey’s central bank has begun setting the stage......

FDA advisers recommend COVID boosters for 65 and older after rejecting broad approval

Reuters
Sept 17 (Reuters) – Advisers to the U.S. Food and Drug Administration voted on Friday to recommend COVID-19 vaccine booster shots for Americans 65 and older and those at high risk of severe illness, after overwhelmingly rejecting a call for broader approval. The panel also recommended that the FDA include......

Online purchases boost U.S. retail sales; labor market recovering

Reuters
People wearing protective masks shop at Macy’s Herald Square following the outbreak of the coronavirus disease (COVID-19) in the Manhattan borough of New York City, New York, U.S., December 26, 2020. REUTERS/Jeenah Moon/File Photo Retail sales increase 0.7% in August Core retail sales surge 2.5%; July revised down Weekly jobless......

Hurricane Ida, supply constraints slow U.S. factory production

Reuters
Shipping containers are unloaded from a ship at a container terminal at the Port of Long Beach-Port of Los Angeles complex, amid the coronavirus disease (COVID-19) pandemic, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy Nicholson/File Photo Manufacturing production increases 0.2% in August Industrial output rises 0.4%; Hurricane Ida......

UK employee numbers surge above pre-pandemic level

Reuters
A man walks past a job centre following the outbreak of the coronavirus disease (COVID-19), in Manchester, Britain, July 8, 2020. REUTERS/Phil Noble UK company payrolls show record monthly increase in August Number of job vacancies exceeds 1 million for first time Jobless rate drops to 4.6% in 3 months......

South African economy grows 1.2% in Q2, beats forecasts

Reuters
People work at ”The Faktory”, a fashion design and clothing manufacturing company in Johannesburg, South Africa, March 4, 2021. REUTERS/Siphiwe Sibeko PRETORIA, Sept 7 (Reuters) – South Africa’s economy grew 1.2% in the second quarter compared to the previous three months, beating analysts’ forecasts, statistics agency data showed on Tuesday.......

Japan’s tepid July household spending adds to economic recovery doubts

Reuters
People wear protective masks in a shopping district amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, December 14 , 2020. REUTERS/Kim Kyung-Hoon/File Photo/File Photo July household spending up 0.7% y/y vs f’cast +2.9% Household spending down 0.9% m/m in July vs f’cast +1.1% Spending growth picks up after June’s......

China’s Aug exports growth unexpectedly picks up speed in boost to economy

Reuters
Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song August exports solidly up from July, beat f’casts August imports also grows at strong pace Data provides some relief to stuttering economic recovery Authorities expected to add to stimulus measures BEIJING, Sept 7 (Reuters)......

All six Israel MPC members voted to keep rates unchanged-minutes

Reuters
The Bank of Israel building is seen in Jerusalem June 16, 2020. REUTERS/Ronen Zvulun/File Photo JERUSALEM, Sept 5 (Reuters) – All six rate setters at the Bank of Israel voted to keep the benchmark interest rate (ILINR=ECI) at 0.1% on Aug. 23, though one member believed it may be time......

Egypt PMI inches closer to growth as purchasing increases

Reuters
A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh CAIRO, Sept 5 (Reuters) – Egypt’s non-petroleum private sector activity shrank for a ninth month in a row in August, but inched closer to growth......

U.S. job growth takes giant step back as Delta variant hits restaurants

Reuters
A sign advertising job openings is seen while people walk into the store in New York City, New York, U.S., August 6, 2021. REUTERS/Eduardo Munoz Nonfarm payrolls increase 235,000 in August July payrolls gain raised to 1.053 million from 943,000 Unemployment rate falls to 5.2% from 5.4% Average hourly earnings......

German services sector drives growth as recovery persists- PMI

Reuters
A general view shows the restaurant of hotel castle Elmau in Kruen near the southern Bavarian resort of Garmisch-Partenkirchen March 25, 2014. REUTERS/Michaela Rehle BERLIN, Sept 3 (Reuters) – Activity in Germany’s services sector expanded at a strong pace in August, albeit slightly weaker than in the previous month, as......

S.Korea inflation at 9-year peak fuels rate hike expectations

Reuters
Aug CPI +2.6% y/y, core CPI +1.3% y/y Headline CPI stands above BOK’s 2% target for 5th month Agricultural and oil products, housing rental and services rise Nov rate hike possible if growth uncertainties ease – economist SEOUL, Sept 2 (Reuters) – South Korea’s August consumer inflation stayed at a......

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