Weekly Roundup Report 10/10/2017
EVENT RECAP: WEEK ENDING 6th OCTOBER 2017
North America
The headline event of the week was the Non-Farm Payroll report, which revealed a disappointing 33,000 fall in labour market participants in September. However, not all data was bad; average hourly earnings jumped by 0.5% similarly, the unemployment rate also fell to 4.2%. The Bureau for Labour Statistics has attributed the mixed results to Hurricane Irma hitting Florida at the time of data collection. Both Manufacturing and Services sectors indicated a strong economy for the U.S. reaching around 60 points for the month of September.
Asia Pacific
Japanese manufacturers appear to be optimistic about economic conditions. The Tankan Manufacturing Index reached 22 points, with results above zero indicating growth. The rise represents the largest quarter-to-quarter jump since the second quarter of 2013.
United Kingdom
September was a turbulent month for the Construction sector which fell for the first time in 13 months, according to the Markit Construction PMI survey. By contrast, the Manufacturing sector registered another month of steady growth rising to 55.9 points for the month, as new orders, output and employment all rose.
Europe
ECB President Mario Draghi indicated at the September conference that a plan for scaling back the large scale quantitative easing program would be released at the October conference. The decision has come as a result of improving Eurozone growth and a surging Euro.
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