Economic Indicators: A Look at the Recent Data Released by Major Economies

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Economic Indicators: A Look at the Recent Data Released by Major Economies
Economic Indicators: A Look at the Recent Data Released by Major Economies

The U.S. data brought some positivity in the financial markets.US Energy Information Administration released the report about the U.S. Gasoline Inventories on Thursday, which showed that the inventories climbed to a seasonally adjusted annual rate of 0.183M. The U.S. Gasoline Inventories in the preceding quarter were 2.748M, and the economists had estimated it to go up to 0.683M in the last quarter.

Going by the official data released by the Energy Information Administration on Thursday, the U.S. Crude Oil Inventories witnessed a surge of a seasonally adjusted annual rate of 0.313M, which is more than what was expected by the analysts last month. The crude oil rose from the preceding month’s 2.523M mark, against the prediction that it would drop -0.544M last month.

Germany also came out with the Producer Price Index on Thursday, which showed an unexpected drop from last month. As per the reports released by Destatis, German Producer Price Inflation plummeted to a seasonally adjusted annual rate of -0.3%. The producer price inflation saw a drop of -0.2% during previous month, and the analysts said that it was likely to drop by -0.1% last month.

On the contrary, the Swiss Trade Balance saw a hike to post a seasonally adjusted 2.224B, even though the financial analysts had predicted it to go up to 2.410B last month. According to the reports released by Federal Statistical Office about the trade balance, the preceding month saw the index at 1.698B, which was adjusted from 1.728B.

The Gross Domestic Product, GDP, of New Zealand also indicated a less than expected growth in the previous quarter. The data released by Statistics New Zealand showed a rise from the preceding quarter’s 1.5% to a seasonally adjusted 0.3%, whereas as per analysts the country’s GDP was supposed to go up by 0.6% in the last quarter.

Coming to Argentina, the official data released by INDEC, short for National Institute of Statistics and Censuses, showed an increase in the Trade Balance to a seasonally adjusted annual rate of 1,338M. In the previous month, the Argentinian Trade Balance was 1,151M, and the economists had estimated it to grow up to 1,224M last month.