On July 30, 2024, various economic indicators were reported in different regions around the world. In Japan, the unemployment rate for June remained steady at 2.60%, meeting the forecasted expectations. Moving to Australia, building permits month-on-month in June saw a decrease of 2.30%, contrasting with the previous month’s positive growth of 5.50%.
In Europe, France reported a decline in consumer spending month-on-month in June, with a decrease of 0.40% compared to the previous 1.50% growth. The GDP quarter-on-quarter for France in the second quarter remained unchanged at 0.20%. In Switzerland, the KOF Leading Indicator for July dropped slightly to 102.6 from the previous month’s 102.7.
Italy and Germany both reported their GDP quarter-on-quarter for the second quarter of the year. Italy’s GDP growth was slightly lower than expected at 0.20% compared to the forecasted 0.30%. Similarly, Germany’s GDP growth was 0.10%, missing the forecast of 0.20%.
The Eurozone as a whole reported a GDP quarter-on-quarter of 0.20% for the second quarter, slightly below the forecasted 0.30%. The region’s economic sentiment indicator for July was reported at 95.9, while industrial confidence and services sentiment were at -10.1 and 6.5, respectively. Consumer confidence in the Eurozone for July remained unchanged at -13, meeting expectations.
Moving to the United States, the S&P/CS Composite-20 HPI year-on-year for May showed an increase of 7.40%, slightly higher than the previous month’s 7.20%. The Housing Price Index month-on-month for May remained steady at 0.20%. However, consumer confidence for July dropped to 99.8 from the previous 100.4.
Overall, the economic data reported on July 30, 2024, shows a mixed performance across different regions, with some areas meeting expectations while others fell short. These indicators provide valuable insights into the current state of the global economy and can help forecast future trends and developments.