Overseas Headlines – July 23, 2021

United States:

Surprise Gain in Jobless Claims Shows U.S. Labor Market Churn

“Applications for U.S. state unemployment insurance rose unexpectedly last week by the most since late March, underscoring week-to-week volatility in an otherwise improving labor market. Initial jobless claims in regular state programs totaled 419,000 in the week ended July 17, up 51,000 from the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 350,000 new applications.”



U.K. Retail Sales Surged With Spending for Soccer Matches

“U.K. retail sales surged unexpectedly in June as consumers spent more in grocery stores to celebrate European championship soccer, adding momentum to the economic recovery. The volume of goods sold in shops and online rose 0.5% from the month before, the Office for National Statistics said Friday. Economists had expected a 0.1% drop. The figures followed an unprecedented jump in April when most stores were allowed to fully reopen for the first time since January.”



Singapore Home Price Growth Slows Amid Virus Curbs

“Singapore’s home price growth slowed in the second quarter after virus restrictions deterred new launches and limited the number of people who could view apartments. Private property values rose 0.8% from the previous quarter, according to Urban Redevelopment Authority data released on Friday. That’s lower than the 0.9% flash estimates and less than the 3.3% growth in the first quarter.”




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