Global economic update

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

March 12, 2018

Employment trends

U.S.: Initial jobless claims rose by 21,000 to 231,000 in the week.

U.S.: The U.S. added 313,000 jobs and the unemployment rate remained unchanged at 4.1% in February.


GERMANY: The Retail PMI advanced to 53.8 in February from 53.0 in January.

GERMANY: The Services PMI fell to 55.3 in February from 57.3 in January.

GERMANY: Factory orders dropped 3.9% in January.

GERMANY: Industrial production slipped 0.1% in January.

U.S.: Factory orders declined 1.4% in January.

U.S.: Durable goods orders fell 3.6% in January.

U.S.: The Services PMI jumped to 55.9 in February from 53.3 in January.

U.S.: Consumer credit increased 4.25% in January.

U.K.: The Services PMI rose to 54.5 in February from 53.0 in January.

EUROZONE: The Composite PMI Output slipped to 57.1 in February from 58.8 in January.

EUROZONE: GDP rose 0.6% in the fourth quarter.

EUROZONE: Retail trade declined 0.1% in January.

CHINA: The Composite PMI Output slipped to 53.3 in February from 53.7 in January.

JAPAN: The Composite PMI Output fell to 52.2 in February from 52.8 in January.

AUSTRALIA: GDP grew 0.4% in the fourth quarter.

AUSTRALIA: Retail trade grew 0.1% in January.


U.S.: The dollar rose versus the euro after the ECB indicated that any policy normalization would be gradual.

Market sentiment

U.S.: The CPA Outlook Index rose to a record level of optimism in the first quarter.


CHINA: Exports surged and the trade surplus widened in February.

GERMANY: Exports surged 8.6% in January.

CANADA: The trade deficit narrowed in January.

U.K.: The trade deficit widened in the fourth quarter.