Saudi Arabia's merchandise trade surplus came in at 26.02 billion Saudi riyals in May, up from the prior month's revised 22.76 billion riyals, data from the General Authority for Statistics showed Sunday.
Merchandise exports totaled 93.78 billion riyals, up 3.9% year over year, while merchandise imports fell 19.5% to 67.76 billion riyals.
The flash manufacturing reading from S&P Global fell slightly to 53.8 in July from 53.9 in June after regional data from the New York and Philadelphia Federal Reserve banks improved.Released at the same time, the flash services reading from S&P Global rose to an eight-month high of 53.6 in July from 51.2 in June.New-home sales accelerated to a 628,000 annual rate in June from a 618,000 rate in May but was down 5.6% from the 665,000 rate in June 2025.The Kansas City Fed's services index rose to 14 in July from 5 in June. Other regional services data already released have also indicated a faster pace of growth for the sector.
Cargo traffic at the Port of Los Angeles is expected to rise in the week ending Aug. 8, according to data from ship-tracking system Port Optimizer.A total of 125,142 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 6.2% increase from the previous week and a 10% rise from a year earlier.Twenty-four freight vessels are scheduled to arrive at the port in the week ending Aug. 8, the data showed. That compares with 21 vessels scheduled this week and 23 in the week ending Aug. 1.US President Donald Trump on Monday signed proclamations imposing 50% tariffs on certain Canadian imports, including products tied to the motor vehicle, alcohol and dairy sectors.The Office of the US Trade Representative said Thursday that it is imposing new tariffs on 60 countries over their alleged "failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labor." The new duties took effect Friday, replacing a 10% global tariff implemented by Trump that expired the same day, according to media reports.
The Kansas City Federal Reserve's monthly composite services index increased to a reading of 14 in July after falling to 5 in June, suggesting a faster pace of expansion.The rise follows increases in the regional services sector readings from Philadelphia and New York Fed regions and the S&P Global US flash services measure.There was an increase in the Kansas City revenue/sales reading to 19 from 3, while the employment reading increased to 4 from 1.The reading of selling prices decreased to 12 from 16, while the input price index fell to 45 from 51. A reading above zero indicates growth.