Overseas Headlines – August 9, 2021

United States:

Fed’s Sanguine Inflation View Tested in New Data: Eco Week Ahead

“U.S. consumer prices probably rose in July at the slowest pace in five months, marking a deceleration that stops short of full relief from cost increases weighing on sentiment and driving political debate. The government’s index is seen climbing 0.5%, according to the median projection in a Bloomberg survey of economists ahead of data this week. Stripping out volatile food and energy components, the core measure of prices is forecast to rise 0.4% after a 0.9% advance in June that matched the largest month-over-month gain since 1982.”



German Factories See Economic Recovery Picking Up as Orders Rise

“German factory orders rose in June, bolstering the recovery in Europe’s largest economy as an easing of pandemic restrictions supported business activity across sectors. Demand increased 4.1%, beating the median estimate in a Bloomberg survey. The gain was driven by domestic orders, with investment goods up 14.8%.”



Goldman Slashes China Growth Forecast on Delta Virus Outbreak

“Goldman Sachs Group Inc. downgraded its economic growth forecast for China as measures to contain the fast-expanding Covid-19 resurgence curb spending. The economists cut their projection for quarter-on-quarter growth of gross domestic product in the third quarter and also lowered their full-year GDP growth forecast to 8.3% from 8.6%, according to a report released late Sunday. The prediction assumes the government will bring the outbreak under control in about a month, and follows the downgrade by Nomura Holdings Inc. earlier this month.”




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