Economic Indicators from Germany, U.S., Australia Shows Mixed Trends

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 wholesale price index in Germany plummeted all of a sudden last month. This was revealed when Destatis showed a report on Thursday stating that the wholesale price index went down by -0.4% from -0.2% in the previous month. Although for last month, financial analysts had estimated the wholesale price index to go up by 0.3%.

Coming to the data released from Australia on Thursday, the employment change of the country saw a surge last month, while the unemployment rate maintained its position and saw no change.

According to the report released by the Australian Bureau of Statistics, the employment change went up to a seasonally adjusted 1.1K, defying the expectations of the analysts who said that the employment change would drop -10.0K in the previous month. The employment change for the preceding month was 50.1K.

Moreover, the figures released for the Australian unemployment rate saw it sustaining the preceding month’s 5.5%, even though experts had predicted the rate to go up by 5.6% previous month.

Coming to the world’s largest economy, the U.S. federal budget balance slumped much more than what was expected last month. Going by the official data revealed on Thursday by Department of the Treasury, the federal budget balance crashed to a seasonally adjusted 139.0B, while it was 112.9B in the earlier month. The estimations of the analysts showed that the federal budget balance was likely to drop to -110.0B last month.

Moreover, the US Energy Information Administration also revealed its official report on Thursday indicating a rise in the U.S. gasoline inventories in the last quarter. U.S. Gasoline Inventories saw a surge of seasonally adjusted annual rate of 2.748M, against the expected growth of 0.644M. U.S. Gasoline Inventories rate in the preceding quarter was -0.366M.

U.S. crude oil inventories also went up to a seasonally adjusted annual rate of 2.523M, as per the data released by Energy Information Administration on Thursday. Considering preceding month’s rate of -6.267M, economists had estimated that U.S. Crude Oil Inventories rate might drop to -0.722M for the last month.