Declines In Chinese Indices And Employment In Canada
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Observing changes in the economy month by month is an important role in any country. The most important indicators observed by economies are employment, gross domestic product and consumer and producer price inflation.
The number of people employed will increase?
Canada at 14:30 CET publishes data on the number of employees for the previous month.
The data show that for the last two months the number of employees has been negative, which means a labor deficit. As you can read from the chart, the largest number of employees was in February (336.6K). Thereafter, the number plummeted since March, partly due to the geopolitical situation in the world and Canada's domestic struggle. In March, it decreased to 72.5K. In June and July, there was a labor shortage. This negative trend is expected to change in August and the number of people employed will increase to 15K.
Source: investing.com
Canada also publishes data on the unemployment rate. Since February, the percentage of unemployed and actively looking for work in Canada has followed a downward trend. Although the unemployment rate remained at 4.9% in June and July, it is expected to increase to 5.0% in August.
Source: investing.com
Russia’s CPI index and GBP
Russia will publish CPI data and quarterly GDP figures.
The market value of all final goods and services produced in the second quarter of this year has dropped drastically and is projected to reach -4.0%. The results for the first quarter were at the level of 3.5%.
Source: investing.com
Russia will also published the change in the price of goods and services from the perspective of the consumer at 18:00 CET.
The data shows that over the past three months the indicator has been in a downward trend and the results were below forecasts. In May, CPI in Russia amounted to 17.1%, in the following month it fell to 15.9% and then to 15.1%
The forecast of results for August shows that the trend is expected to continue. The CPI index is expected to decline to 14.3%.
Source: investing.com
Chinese consumer and producer price inflation and PPI fell
The China’s annual CPI fell to 2.5% in August form 2.7% in the prior month. The readiing missed expecttatios of 2.8%.
Source: investing.com
Producer price inflation fared even worse in the country. The annual producer price index shrank to 2.3% in August from 4.2% in the prior month, and was well below expectations of 3.1%. The reading was also at its lowest level since March 2021.
Source: investing.com
Readings earlier this week showed China’s imports barely registered growth in August, while data last week showed that China’s manufacturing sector contracted for two straight months.
Today's readings show that the recent measures taken by the Chinese government are yet to spur growth in the country. China is struggling with slowing domestic demand and disruptions to factory operations.
USA speeches
Federal Reserve Bank of Kansas City President Esther George is set to speak at 18:00 CET. She can drop, as usual, subtle clues regarding future monetary policy. C. Waller, Fed member, is also scheduled to speak Today at 18:00 CET
CFTC around the world
At 21:30 CET, the US, Canada, Switzerland, Russia, Australia, European Union, Brazil, Japan, UK and New Zealand will release their CFTC speculative net position data.
The Commodity Futures Trading Commission's (CFTC) report provides a breakdown of the net positions for "non-commercial" (speculative) traders.
Reports from the above-mentioned countries will be about currencies. In addition, the US will publish reports on the CFTC on; oil, wheat, gold, copper, corn, S&P 500, aluminium, Nasdaq, soybeasn, gas, silver.
