Sunday, August 04, 2013

QUICK OVERVIEW

  • The US economy added 162,000 jobs in July, slightly below expectations, but the unemployment rate fell to 7.4 %.
  • U.S initial claims for jobless benefits fell by 19,000 to 326,000, the fewest since January 2008, from a revised figure of 345,000 for the previous week.
  • U.S. economy grew 1.7% in Q2 U.S. personal income rose 0.3 % in June, after a 0.4 % gain in May
  • U.S. personal consumption expenditures rose 0.5 % in June, after an increase of 0.2 % in May.
  • U.S. savings rate, personal saving as a % of disposable personal income, edged down to 4.4% in June from 4.6% in the previous month, but remained well above the 2.1% average savings rate for all of 2007 before the financial crisis.

  • The United States Trade Representative (USTR), to whom the White House has delegated the authority to veto ITC rulings, has decided to veto an early-June ITC ruling, which would otherwise have taken effect on Monday, to ban the importation of older iPhones and iPads into the United States market over a Samsung declared-essential patent

  • China's PMI for the manufacturing sector improved slightly to 50.3% in July from 50.1% in June, above the boom-bust line of 50% for 10 months in a row.
  • China's non-manufacturing PMI rebounds to 54.1 % in July

  • An advanced computer numerical control (CNC) machine tool was shipped to Germany from China in the country's first export of cutting-edge equipment to a developed economy.

  • Eurozone jobless rate remains at record high of 12.1% in June
  • Eurozone consumer price inflation stays at 1.6% in July

  • The British economy to grow 1.2% in 2013


  • The Danish Meteorological Institute is reporting that on Tuesday, July 30, the mercury rose to 25.9 C (78.6 F) at a station in Greenland, the highest temperature measured in the Arctic country since records began in 1958.

  • Saudi website editor gets 7 years in prison and 600 lashes.


  • A Swedish sociology professor named Stefan Svallfors has nominated NSA whistleblower Edward Snowden for a Nobel Peace Prize.

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