Overseas Headlines – August 12, 2021

United States:

U.S. Initial Unemployment Claims Drop for Third Week in a Row

“Applications for U.S. state unemployment benefits dropped for the third week in a row, another incremental advance in the labor market’s recovery. Initial unemployment claims in regular state programs totaled 375,000 in the period ended Aug. 7, in line with estimates from a Bloomberg survey of economists. That’s down 12,000 from the prior week, Labor Department data showed Thursday.”



U.K. Economy Sees Faster Growth in June as Lockdown Eases

“The U.K. economy grew more than expected in June as lighter coronavirus restrictions led to renewed strength in nation’s dominant services. Gross domestic product rose 1%, more than the 0.8% predicted by economists, the Office for National Statistics said Thursday. That made growth for the second quarter at 4.8%, close to the 5% pace the Bank of England predicted last week.”



Indonesia GDP Grows Most Since 2008, New Curbs Stem Recovery

“Indonesia’s economy snapped a year of contractions in the second quarter as a temporary relaxation of virus curbs benefited consumption and investment — but before restrictions were reimposed. Gross domestic product rose 7.07% from a year ago, the statistics bureau announced Thursday. That was the fastest pace since 2008, according to data compiled by Bloomberg, and beat the median estimate of 6.72% in a survey of 23 analysts.”




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