Overseas Headlines – September 30, 2020

United States:

U.S. Firms Added 749,000 Jobs in September, ADP Report Show

“U.S. companies added 749,000 jobs in September, a private report showed, indicating the labor market’s gradual rebound is continuing as demand rises from the depths of the coronavirus pandemic. Businesses’ payrolls increased after an upwardly revised 481,000 rise in August, according to ADP Research Institute data released Wednesday. The median projection in a Bloomberg survey of economists called for a 649,000 gain in September.”



U.K.’s Tax-Fueled Housing Rally Shows Uneven Economic Rebound

“U.K. house prices posted their biggest annual gain since 2016 in September as a tax cut fueled a post-lockdown demand to move. Values climbed 5% from a year earlier to an average of 226,129 pounds ($290,000), Nationwide Building Society said Wednesday. The report comes a day after Bank of England data showed mortgage approvals have hit a 13-year high.”



China’s Factory Outlook Brightens on Signs of Solid Recovery

“An official gauge of activity in China’s manufacturing gained in September on stronger production and orders, suggesting the recovery momentum remained solid, while activity in the services sector also strengthened. The manufacturing purchasing managers’ index in September rose to 51.5 from 51 a month earlier, according to data released by the National Bureau of Statistics Wednesday, beating the 51.3 estimate in a Bloomberg survey.”



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