The British job market saw demand for staff rising at the fastest pace since April 1998 in August as pay growth continued to increase strongly, driven by employee shortages, according to the Report on Jobs by the Recruitment and Employment Confederation (REC) and KPMG.
The U.S. labour market unexpectedly recorded the slowest employment growth in eight months, while the nation's jobless rate declined, meeting analysts' expectations.
The Euro zone economy remained stagnant in the second quarter, as pickup in consumer spending and exports were offset by drops in investment spending and inventories coupled with an unusual large decline in construction.
Investors all around the world were eyeing the ECB to find out whether the central bank would fall for calls to launch large-scale asset purchases, also known as quantitative easing, to defy mounting deflation threats and revive the flagging Euro zone economy.
Retail sales in Australia continued to rise for the second consecutive month in July, an optimistic sign of both consumption and economic growth in the third quarter.
As widely expected the Bank of Japan kept its ultra-easy monetary policy unchanged and maintained its optimistic outlook of the economy despite a contraction in the second quarter that underlined the damage caused by an April sales tax hike, signalling confidence that it will be able to meet the 2% inflation target without additional stimulus measures.
The Bank of England's rate-setting body voted to keep its asset purchase target as well as interest rates untouched at the record low of 0.5%, despite increasing calls by some policy makers for a change in the policy.
A slew of employment data came out yesterday in the U.S. ADP reported that U.S. companies hired 204,000 workers in August, below analysts projections of 220,000.
Those, who had awaited QE announcement from the ECB, are definitely disappointed, as the central bank decided to slash already ultra-low interest rates even further in an attempt to stimulate the faltering Euro zone economy.
Reserve Bank of Australia Governor Glenn Stevens said he is unwilling to fuel house price increase in an attempt to reduce unemployment faster, which jumped to a 12-year high in July, and warned about the creation of asset bubbles in the current low-interest rate environment.
Bank of Canada Governor Stephen Poloz announced that the BoC would keep its key interest rate on hold and remained neutral on its next move, referring to slack in the Canadian economy that will keep cost of living in check.
While the neighbouring is struggling amid slackening growth and geopolitical tensions, the U.K. is enjoying robust economic performance.
Business orders for U.S. factory goods soared by a record amount in July, owing to a substantial leap in contracts for commercial aircraft, adding to further signs of the American economy's resilience.
Negative data in the Euro zone continues to mount, increasing pressure on the ECB to act decisively as soon as today.
Australia's economy lost momentum in the second quarter after a dramatic decline exports, but the pace of growth was still above expectations.
Switzerland's economy unexpectedly stalled in the three month through June, as faltering growth in the Euro area curtails exports of the Alpine country's industrial goods.
U.K. construction data surprised strongly to the upside, with the output growing at the fastest pace in seven months in August, pointing to a continued robust recovery in the sector.
A better than expected manufacturing data fuels expectations that the world's number one economy will grow at a more robust pace in the second half of the year.
Producer prices in the Euro zone, which considered to be the first gauge of retail inflation, declined on an annual basis in July, while also inching lower from the previous month.
The Reserve Bank of Australia decided to leave its interest rates on hold at record low to bolster growth and underscored that overly strong currency is undermining the economy's transition away from mining investment.
Growth in Chinese manufacturing activity slowed in August, losing steam for the first time in six months after reaching the highest level in over two years.
Activity in Britain's manufacturing sector rose at the slowest pace in 14 months in August as geopolitical crisis in Ukraine curtailed demand from abroad, reawakening concerns about the balance of economic recovery in the country.
Wages in Japan increased at their fastest pace since 1997, helping consumers cope with rising living costs as Prime Minister Shinzo Abe attempts to revive growth in the world's third biggest economy.
A slew of discouraging data on manufacturing activity in European countries came out yesterday, fuelling concerns over fragile economic health in the region.