Saudi Arabia's construction cost index increased 2.3% year over year in July, following a 2.7% rise in the previous month, according to data from the General Authority for Statistics released Sunday.
The latest jump was largely attributed to higher construction costs in the residential and non-residential sectors.
On a monthly basis, construction costs in the kingdom were flat, against the prior 0.1% uptick.
Cargo traffic at the Port of Los Angeles is expected to fall in the week ending Sept. 5, according to data from ship-tracking system Port Optimizer.A total of 133,355 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a 12% decrease from the previous week and a 46% rise from a year earlier.Twenty-three freight vessels are scheduled to arrive at the port in the week ending Sept. 5, the data showed. That compares with 23 vessels scheduled this week and 25 in the week ending Aug. 29.
The flash manufacturing reading from S&P Global fell to 53.2 in August from 53.9 in July after regional data from the New York and Philadelphia Federal Reserve banks indicated faster expansion.Released at the same time, the flash services reading from S&P Global rose to 20-month high of 56.8 in August from 54.6 in July, suggesting faster expansion.The Q3 GDPnow estimate from the New York Fed was revised up to a 2.27% gain from 2.14% last week.