On June 28, 2024, various economic indicators were released, providing insights into different economies around the world.
In Japan, the Tokyo Consumer Price Index (CPI) Year-on-Year (Y/Y) for June was reported at 2.20%. Additionally, the Tokyo CPI excluding Fresh Food and Food & Energy for the same period were 2.00% and 2.20%, respectively. The unemployment rate for May remained steady at 2.60%. Industrial production Month-on-Month (M/M) for May showed growth of 2.00%, a significant improvement from the previous month’s decline of -0.90%.
Moving to Australia, the Private Sector Credit M/M for May was reported at 0.40%, slightly below the forecast of 0.50%.
In Europe, Germany’s Import Price Index M/M for May was 0.20%, lower than the expected 0.70%. The Gross Domestic Product (GDP) Quarter-on-Quarter (Q/Q) for Q1 F remained unchanged at 0.60%. France reported a 0.20% increase in Consumer Spending M/M for May, a positive sign for the economy.
In Switzerland, the KOF Economic Barometer for June was 100.5, slightly exceeding the forecast of 100.3.
Germany’s labor market saw a mixed bag, with Unemployment Change for June coming in at 15K, lower than the previous month’s 25K. The Unemployment Rate, however, remained unchanged at 5.90%.
North America also saw some economic activity, with Canada reporting a GDP M/M growth of 0.30% in April. In the United States, Personal Income M/M for May was 0.40%, higher than the previous month’s 0.30%. Personal Spending M/M for the same period was 0.30%, showing increased consumer activity. The Core Personal Consumption Expenditure (PCE) Price Index M/M for May was 0.10%, lower than the previous month’s 0.20%.
The PCE Price Index Y/Y for May stood at 2.70%, while the Core PCE Price Index Y/Y was reported at 2.80%. The Chicago Purchasing Managers’ Index (PMI) for June was 40, indicating a slowdown in manufacturing activity. The final report of the day was the Michigan Consumer Sentiment Index for June, which remained unchanged at 65.6.
Overall, the economic data released on June 28, 2024, provides a snapshot of the global economic landscape, showcasing both areas of growth and areas that may need attention in the coming months.