Fundamental Analysis

U.S. Labour Market Growth Slows In August

• September 4, 2017

      EVENT RECAP: WEEK ENDING 1^st SEPTEMBER 2017     North America   The headline event last week was the Non-Farm Payroll report which showed fewer workers were added to the economy for the month August. A total of 156,000 new payrolls were added against a forecast of 180,000. The result does not change the outlook for the U.S. economy for the third quarter.   Canada GDP grew more than the anticipated rising by 0.3% for the month of June. However, it still represents a slowing in growth from the previous month which registered 0.6% growth.     Asia Pacific   China Manufacturing PMI figures showed steady growth in August according to the Federation of Logistics and Purchasing. Non- manufacturing data was disappointing however; dropping to 53.4 points, representing the lowest output since the second quarter of last year.     United Kingdom   Manufacturing activity in the U.K proved to be resilient in August despite political uncertainty. Growth has accelerated for the second half of the year as Sterling weakness has increased export demand most notably from the Eurozone.     Europe   Economic growth in the Eurozone has accelerated more than expected to 1.5% according to Eurostat preliminary data. The Energy and Services sectors represented the biggest components of growth in August rising 4% and 1.6% respectively.