Global economic update

Highlights of the past week, from central bank policies to trade and currency trends.

July 24, 2017

Employment trends

U.S.: Initial jobless claims fell by 15,000 to 233,000 in the week.

AUSTRALIA: The unemployment rate remained essentially flat in June.

Growth

CHINA: Retails sales jumped 11.0% from a year ago in June.

CHINA: Industrial production climbed 7.6% in June.

U.K.: Producer price inflation increased 3.3% year over year in June.

CANADA: Manufacturing sales grew 1.1% in May.

U.S.: Housing starts surged 8.3% in June.

U.S.: The Conference Board Leading Economic Index jumped in June.

GERMANY: Producer prices rose 2.4% in June.

CANADA: Retail sales grew 0.6% in May.

Inflation/deflation

U.K.: The CPI 12-month inflation rate fell to 2.6% in June, from 2.7% in May.

EUROZONE: Annual inflation slipped to 1.3% in June from 1.4% in May.

JAPAN: The Bank of Japan cut its inflation forecast through 2019.

CANADA: The CPI rose 1.0% in June.

Currency

U.S.: The dollar fell to a 10-month low versus other major currencies due to uncertainty around the Federal Reserve's policy tightening and health-care reform efforts.

Market sentiment
Central bank policy