The Richmond Fed's monthly manufacturing index rose to a reading of 5 in July from 4 in June, below expectations for a reading of 6 in a survey compiled by Bloomberg as of 7:40 am ET.
Other regional manufacturing data already released have also suggested expansion.
Released at the same time, the services revenue index fell to minus 3 in July from 0 in June, indicating contraction in the sector, in contrast to other services readings.
The UK's shop price inflation softened to 0.9% year over year in July, from 1.2% a month ago, a survey by the British Retail Consortium showed Tuesday.The latest reading was below the consensus estimate and three-month average of 1.1%.BRC Chief Executive Helen Dickinson attributed the decline in inflation to promotions on food and alcohol during the FIFA World Cup, discounts on clothing and footwear, and other summer deals.
Taiwan's overall economic monitoring indicator flashed a red signal in June, with the total score coming in at 41 points, according to data released by the National Development Council (NDC) on Tuesday.The latest score increased by 2 points from the 39 points recorded in the previous month.The trend-adjusted leading index rose 0.57% in June to 104.17, marking its fourth consecutive month of growth.The trend-adjusted coincident index edged up 0.94% to 108.17, rising for the 10th straight month.The trend-adjusted lagging index grew 1.34% to 103.72, moving up for the seventh month in a row.
New Zealand's unemployment rate is expected to rise 0.2 percentage points to 5.5% in the June quarter after some firms paused hiring in the wake of heightened global uncertainty and oil price shock, according to a Tuesday note by ANZ Research.The employment rate is expected to be unchanged quarter over quarter, while the participation rate is forecast to fall by 0.1 percentage points to over 70%. The working‑age population is anticipated to increase by 0.3%.The ongoing weakness in the labor market should keep wage pressures contained, with annual wage growth measured by the LCI slowing 0.1 percentage points to 1.9% and the QES measure of private sector wages expected to slow 0.7 percentage points to 2.8% on an annual basis, ANZ said.This suggests that the labor market is unlikely to become a renewed source of accelerating consumer price index inflation pressures, with wage-price spiral risks mitigated.