CANADIAN EMPLOYMENT DISAPPOINTS | US PRODUCER PRICES RISE
Published August 9, 2019
Canada’s economy shed a net 24,200 jobs in July, driven by a decline in wholesale and retail trade, official data showed on Friday. The unemployment rate also moved up to 5.7 percent to give the economy its weakest three-month stretch of job creation since early 2018. The Canadian dollar was trading at 1.3256 against the greenback after the announcement.
The wholesale cost of US goods and services rose modestly in July, the Labor Department said on Friday. The producer price index for final demand rose 0.2 percent last month after nudging up 0.1 percent in June. The US Dollar Index was trading flat this morning, at 97.55 levels.
The UK economy contracted for the first time since 2012 in the second quarter, dragged down by a slump in manufacturing and construction activities. Overall, economic growth slid to 0.2 percent from 0.5 percent rise in the first quarter.
Italy’s deputy prime minister Matteo Salvini has called for a snap election, urging the prime minister to reconvene parliament to confirm that the coalition government is no longer viable