Retail sales in the Eurozone rose again in August, although the pace of increase slowed down from the previous month, figures released on Friday showed. The index fell from to 51.4 in August from July's 54-month high of 54.2, but remained above the 50 threshold that signals expansion for the fourth consecutive month.
Germany the Eurozone's largest economy, saw sales rise solidly, albeit at a slower pace than in the previous month, as the headline PMI fell from 57.7 to 54.7. Meanwhile France fared much worse, falling back into contraction as sales fell both on monthly and annual rates.
On Friday the US released its headline non-farm payroll figure which showed employers added 173,000 workers in August and the jobless rate dropped to 5.1 percent, the lowest since April 2008 and a level that the Federal Reserve considers to be full employment. The gain in payrolls, while less than forecast, followed advances in July and June that were stronger than previously reported, the Labour Department said Friday.
Persistent hiring indicates employers were upbeat about America’s demand prospects leading up to mounting concerns of further deterioration in emerging economies. Fed policy makers meeting in less than two weeks will weigh resilient US employment conditions against the recent turmoil in world financial markets as they debate the timing of any interest-rate increase.
There are now key announcements today.
US Bank Holiday.