Macro
Poland’s July retail sales rise 3.9%, below expectations
Polish retail sales grew 3.9% year-on-year in July, undershooting forecasts of 4.5% growth. Annual growth slowed from June’s 6.2% as fuel sales declined and clothing demand fell.
Swiss industry warns U.S. tariffs could erode export competitiveness
Swiss manufacturers face rising costs and shrinking margins as a 12.5% U.S. tariff gap widens against EU competitors. Survey shows 42% of firms passing costs to clients, while 5.3% decline in U.S.-bound exports deepens concerns.
Diretora do FMI diz que economia global resistiu ao choque da guerra no Irã
A diretora-geral do Fundo Monetário Internacional avaliou a capacidade de resiliência da economia global diante do conflito no Irã.
U.S. private payrolls rise to 11,750 per week, ADP data shows
Private employers added 11,750 jobs weekly in the four weeks to Aug. 8, up from 9,500, as hiring accelerated for a second straight week. Labor market data revisions show 103,000 fewer jobs than previously reported in May and June.
Hungary sets 7.5% budget deficit target amid drought and energy crisis
Finance Ministry cites inherited fiscal challenges and crises as it targets a wider deficit, with debt projected to rise to 77.5% of GDP in 2024.
Canada factory sales seen down 0.2% in July - Statscan flash estimate
Manufacturing output likely declined as chemical and fabricated metal sectors weighed on activity, according to Statistics Canada's advance estimate.
Germany's business confidence index rises more than expected in August
Ifo Institute's business climate index increased to 88.8 in August from 86.7 in July, surpassing forecasts of 87.2. Germany's Q2 GDP growth revised up to 0.3% quarter-on-quarter.
Brazil sets 2027 minimum wage at R$1,741, budget bill on track
The federal government has finalized the minimum wage for 2027 at R$1,741, with the 2027 budget bill set for submission by August 31. Adjustments comply with legal inflation and GDP-linked formulas.
Mexico's GDP grows 1.4% sequentially in Q2, below preliminary estimate
Latin America's second-largest economy expanded 1.4% quarter-on-quarter in Q2, rebounding from a revised 0.3% contraction in Q1, while annual growth reached 2.1%.
Germany's social spending hits record as aging population drives costs
Social budget surged 11.5% between 2019-2025, with over 70% of outlays tied to elderly care and illness. Ifo Institute warns demographic trends will keep pressure on public finances.
UK growth outlook steady despite inflation uptick, Barclays says
Flash PMI data signals resilient activity in August, but inflation pressures and fiscal slippage weigh on outlook. Barclays lifts 2027 inflation forecast.
Poland retail sales rise 3.9% y/y in July, miss forecasts
July’s 3.9% year-on-year gain undershoots the 4.5% consensus as growth slows from June’s 6.2%. Fuel sales fell 0.2% y/y, while electronics and pharmaceuticals led gains.
China’s netizens criticize professor over gig work remarks
Public backlash follows comments suggesting gig work functions as welfare.
Japan factory activity accelerates in August as chip, AI demand fuels orders
Japan’s manufacturing PMI rose to 55.1 in August, the fastest expansion in over eight years, driven by semiconductor and AI-related orders. Services and composite PMIs also strengthened, while cost pressures eased slightly.
UK retail sales fall 0.5% in July as June surge unwinds
July decline follows June’s boost, with core sales down 0.9% and clothing volumes dropping 2.7%. Analysts cite demand pull-forward and weather effects.
U.S. services sector drives faster business activity, S&P Global PMI shows
U.S. services PMI rose to 56.8 in August, the highest since December 2024, while the composite index hit 56.0, the strongest since April 2022. Manufacturing PMI fell to a five-month low of 53.2.
U.S. services activity accelerates to 20-month high in August: S&P Global
Services PMI rose to 56.8, the fastest since late 2024, while manufacturing slowed to 53.2. Composite index climbed to 56.0, signaling broad-based expansion ahead of the third quarter.
Germany’s manufacturing PMI hits 51-month high in August flash data
Factory activity in Germany surged to its strongest level since mid-2022, offsetting a fifth straight monthly decline in services as the economy shows uneven momentum.
Eurozone business activity hits nine-month high as manufacturing surges
Eurozone composite PMI rose to 52.1 in August, driven by the strongest manufacturing growth in over four years. Services activity remained stable at 51.7.
UK private sector growth accelerates in August as services rebound
Composite PMI rises to 52.5, marking second straight month of expansion, while services sector jobs decline continues for 23rd month.
Eurozone business activity growth hits highest since November as PMI rises
Eurozone composite PMI rose to 52.1 in August, exceeding expectations and marking the strongest expansion since November 2025. Manufacturing led gains while services held steady, with hiring resuming after three years.
Magnitude 5.8 earthquake strikes off Japan's Honshu coast
Quake occurred Sunday at a depth of 78 km, according to the German Research Centre for Geosciences. No immediate damage or tsunami warnings reported.
Trump says U.S., Canada close to trade deal
President Donald Trump expects a trade agreement with Canada to be finalized soon, while negotiations with Mexico have also begun. Remarks made at Joint Base Andrews.
U.S. economic data due Monday: Chicago Fed index, Treasury bill auctions
Chicago Fed activity gauge and $50 billion in 3- and 6-month Treasury bill sales headline Monday’s U.S. data slate. Previous readings show modest contraction and steady yields.