“Global Economic Update: JPY Monetary Base, AUD PPI, EUR Industrial Production & Unemployment, GBP Member Speech, USD Earnings and Employment”
The release of data on February 2 had mixed impacts across various economies. The Japanese monetary base experienced a decrease from 7.8% to 4.8%, which could potentially slow down economic expansion. In comparison, Australia’s PPI q/q increased, which may stimulate economic growth in the short term. France’s budget deficit increased significantly, possibly negatively affecting its economy, although there was growth in industrial production. Spain saw an unexpected rise in unemployment, affecting consumer spending and overall economic health.
In the UK, MPC member Pill’s speech was eagerly awaited for insights on future policies. The US average hourly earnings m/m and non-farm employment change exceeded expectations, hinting at a robust labor market. The unemployment rate maintained at 3.7%, providing a positive outlook for US economic growth. Yet, factory orders showed a decrease which may impact manufacturing sector performance.
These economic indicators suggest varied patterns of recovery and growth across different economies, further influencing global financial trends.
