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The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction.

Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter.

The expenditure side of GDP showed a small positive impetus coming only from household consumption. The balance of trade made a small negative contribution, while a neutral development in investment.

Household spending advanced 0.2 percent, faster than the 0.1 percent growth in the prior quarter. Meanwhile, government spending decreased for the second straight time. General government expenditure slid 0.3 percent, but it was slower than the 0.7 percent sharp fall seen in the first quarter.

Investment remained flat on weak construction activity, following first quarter's 0.2 percent increase. Exports and imports climbed 0.6 percent and 0.9 percent, respectively.

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Hungary's trade surplus was revised downwards in June, final figures from the Hungarian Central Statistical Office showed Tuesday.

The trade surplus came in at EUR 584 million in June, less than the flash estimate of EUR 610 million.

The trade surplus increased EUR 79 million over the corresponding month of the previous year.

Total exports grew 6 percent and imports rose 5.2 percent in June.

In the January to June period, trade surplus rose EUR 187 million over the year to EUR 3.3 billion.

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Policymakers of Reserve Bank of Australia decided to maintain its record low interest rate once again as they continue to assess that the most prudent course is a period of stability in interest rates.

The monetary policy board retained the cash rate at 2.50 percent. The rate has been at the current level since August 2013.

The bank has reduced its benchmark rate by a cumulative 225 basis points since November 2011 so as to help economic growth and also to bring down overvalued currency.

The bank said the exchange rate remains above most estimates of its fundamental value, particularly given the declines in key commodity prices. Consequently, it is offering less assistance than would normally be expected in achieving balanced growth in the economy.

Policymakers said continued accommodative monetary policy should provide support to demand and help growth to strengthen over time. Inflation is expected to be consistent with the 2-3 percent target over the next two years.

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Estonia's industrial production growth quickened in July, figures from Statistics Estonia showed Tuesday.

Industrial production increased a working-day adjusted 2.4 percent year-over-year in July following the 1.3 percent rise in June. This marked the fourth straight month of increase in industrial production.

Manufacturing production rose 4.7 percent and energy production climbed 3 percent. Meanwhile, mining output fell 16.4 percent in July.

On a month-over-month basis, industrial production rebounded by 2.9 percent in July, after the 1 percent drop in June.

by RTT Staff Writer

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Eurozone producer prices and U.K. construction purchasing managers' index, or PMI, are some of the notable economic data scheduled for release on Tuesday.

At 5 am ET, Eurostat is scheduled to release its producer prices report for the eurozone. Producer prices are forecast to drop 1.1 percent year-over-year in July following the 0.8 percent fall in June. On a month-over-month basis, producer prices are estimated to decline 0.1 percent, reversing the 0.1 percent increase in June.

At 1:45 am ET, Switzerland's State Secretariat for Economic Affairs is due to release its gross domestic product, or GDP, report. GDP is expected to grow 1.6 percent year-over-year in the second quarter following the 2 percent increase in the first quarter. On a sequential basis, GDP growth is estimated to remain stable at 0.5 percent.

At 3 am ET, the Hungarian Central Statistical Office is scheduled to release its final trade balance report for June. Preliminary estimates had pitched the trade surplus at EUR 60.7 million.

Around the same time, Romania's National Institute of Statistics will release its producer prices report for July. In June, producer prices had risen 0.3 percent year-over-year but fell 0.3 percent month-over-month.

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South Korea's consumer prices increased at a slower than expected rate in August, figures from Statistics Korea showed Tuesday.

Consumer prices rose 1.4 percent year-over-year in August following the 1.6 percent rise in July. Economists had expected consumer prices to grow at the stable rate of 1.6 percent.

Core consumer prices, excluding agricultural products and oils, climbed 2.4 percent year-over-year, which was faster than the 2.2 percent increase in July.

Heavily weighed housing, water, electricity, gas and other fuels prices rose 2.7 percent. Prices in restaurants and hotels gained 1.4 percent and education costs increased 1.7 percent.

Meanwhile, prices of food and non-alcoholic beverages fell 0.5 percent and transport costs dropped 1.9 percent.

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New Zealand's commodity prices declined at a faster rate in August, results of a survey by ANZ showed Tuesday.

The ANZ commodity price index fell 3.3 percent month-over-month in August following the 2.4 percent drop in July. This marked the second largest decrease in prices in six month and a 17-month low.

Among the sub-groups, diary prices declined for the sixth straight month and reached a 23-month low. However, meat prices increased for the eighth consecutive month.

Among the commodities, whole milk powder prices, skim milk powder prices and butter prices recorded double-digit decreases.

Meanwhile, beef prices rose to a record high and aluminum prices increased to an 18-month high. Wool prices recovered in August.

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The monetary base in Japan increased at a slower rate in August, data from the Bank of Japan showed Tuesday.

The monetary base grew 40.5 percent year-over-year in August following the 42.7 percent rise in July.

Bank notes in circulation rose 3.5 percent, which is faster than the 3.4 percent increase in July. Coins in circulation climbed 0.9 percent following the 1 percent rise in the previous month.

Current account balances increased 79.3 percent in August, which is slower than the 84.8 percent growth in July.

After seasonal adjustments, the monetary base grew 40.8 percent in August following the 63.8 percent rise in July.

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The number of building approvals in Australia increased at a faster-than-expected rate in July, data from the Australian Bureau of Statistics showed Tuesday.

Total building approvals rose 9.4 percent year-over-year in July, more than the 7.8 percent growth expected by economics.

Private sector houses approvals climbed 14 percent and approvals for private sector dwelling excluding houses rose 6.3 percent.

On a month-over-month basis, building approvals increased 2.5 percent following the 3.8 percent drop in June. This was more than the 1.9 percent consensus estimate.

by RTT Staff Writer

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The current account deficit in Australia widened less than expected in the second quarter, figures from the Australian Bureau of Statistics showed Tuesday.

The current account deficit came in at A$ 13.74 billion in the second quarter. This was more than the A$ 7.8 billion deficit in the first quarter but was less than the A$ 14 billion deficit expected by economists.

Exports of goods and services dropped 7 percent while imports rose 1 percent in the second quarter.

The decrease in surplus on goods and services is expected to bring down the gross domestic product, or GDP, growth by 0.9 percent, which is more than the 0.7 percent consensus estimate.

by RTT Staff Writer

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Total labor cash earnings in Japan grew at a faster rate in July, defying expectations of a slow down, a report from the Ministry of Health, Labor and Welfare showed Tuesday.

Total earnings increased 2.6 percent year-over-year in July following the revised 1 percent rise in June. Economists had expected earnings to grow 0.9 percent.

Contractual earnings climbed 0.9 percent, after the 0.4 percent increase in June. Scheduled earnings rose 0.7 percent in July, which was faster than the revised 0.2 percent growth in the previous month.

by RTT Staff Writer

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Brazil's factory activity increased for the first time in five months in August, and after the conclusion of the soccer World Cup, led by increases in output and purchasing activity, survey results from Markit Economics showed Monday.

The HSBC Brazil Purchasing Managers' Index rose to 50.2 from 49.1 in July. The reading topped the neutral 50-mark for the first time since March.

Ending a four-month period of contraction, output grew in August following the conclusion of the soccer World Cup and due to signing of new commercial deals. Intermediate goods producers recorded the strongest output growth.

New orders were unchanged in August after four months of decline. However, new export orders increased for the third time in the past four months in August.

Meanwhile, employment declined slightly in August following the modest job creation in July.

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Norway's factory sector grew for second month in a row and at a faster pace in August, survey data from the Norwegian Association of Purchasing and Logistics showed Monday.

The seasonally adjusted Purchasing Managers' Index climbed to 51.8 from 50.8 in July, revised from 50.6. A score above 50 indicates expansion in the manufacturing sector. The latest score was the highest since March, when the print was 52.3.

New orders increased for a second consecutive month, albeit at a slower pace, while production grew for the third month in a row. Employment also rose for the second successive month and at a faster rate.

by RTT Staff Writer

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Poland's manufacturing sector contracted for the second consecutive month in August as output dropped and new orders continued to fall, survey data from Markit Economics revealed Monday.

The HSBC Manufacturing Purchasing Managers' Index dropped to 49 from July's 49.4. The reading came in above economists' consensus of 48.9. A PMI score below 50 suggests contraction in the manufacturing sector.

Manufacturing output fell for the first time since June 2013 as new orders decreased for the third straight month and at the fastest rate since April 2013. Employment growth continued, but was modest.

Input prices rose for the second straight month, but the rate of inflation remained weak. Output prices fell for the twenty-first month as firms offered discounts owing to competitive pressures.

by RTT Staff Writer

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Greece's manufacturing activity expanded in August, after declining in the previous month, survey figures from Markit Economics showed Monday.

Seasonally adjusted Markit manufacturing purchasing managers' index, or PMI, rose to 50.1 in August from 48.7 in July. This marked the highest reading in three months and the first expansion since April.

A reading above 50 signals expansion in manufacturing activity.

Manufacturing production rebounded in August, after dropping in July for the first time in nine months.

New orders growth also accelerated, though at a marginal pace, after two consecutive months of decline.

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Italy's manufacturing sector activity declined in August, after expanding in July, figures from Markit Economics showed Monday.

The Markit/ADACI manufacturing purchasing managers' index, or PMI, dropped to 49.8 in August from 51.9 in July, which is the lowest score in fourteen months.

This marked a decline in manufacturing activity as the index fell below the no-change mark of 50.

The manufacturing PMI has decreased consecutively after reaching the three-year high in April.

Manufacturing output increased at the weakest rate since June 2013. New orders growth slowed to its slowest since November 2013.

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British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday.

The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. The latest PMI reading was the lowest since June last year.

"Sustaining the upturn is nonetheless still a positive in itself, and it should be noted that the pace of expansion remains solid and a touch above its long-run average," Markit Senior Economist Rob Dobson said.

"However, it is also becoming increasingly evident that UK industry is not immune to the impacts of rising geopolitical and global market uncertainty, especially when they affect economic growth and business confidence in our largest trading partner the eurozone."

Output and new orders growth slowed even as the expansion trend was extended to one-and-a-half years. Both domestic and exports orders increased.

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Turkey's manufacturing activity recovered in August as production rose for the first time in three months, results of a survey by Markit Economics and HSBC Bank showed Monday.

The HSBC manufacturing purchasing managers' index, or PMI, rose to 50.3 in August from 48.5 in July.

This marked an expansion in manufacturing activity, after declining in the previous month. A reading above 50 signals expansion.

Manufacturing output grew in August, after decreasing for two straight months, though the rate of increase was weak. In July, manufacturing output had declined at the strongest rate in five years.

Employment levels increased in August, continuing the trend that started in June 2009, though the rate of increase was among the weakest over the past two years.

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Sweden's manufacturing activity grew at a slower rate in August, a report from Swedbank showed Monday.

The manufacturing purchasing managers' index, or PMI, fell to 51 in August from 55.1 in July.

This was driven by broad based declines in the sub-indices. Manufacturing production increased at a notably slower rate in August, making the largest negative contribution, as the corresponding index fell to 50.5.

New orders also rose at a slower rate, with the index decreasing to 51.8 in August. This marked the lowest reading since April 2013.

Employment levels declined in August to 49.5, dropping below the no-change mark of 50, from 51 in July.

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Estonia's retail sales grew at the fastest pace in nearly two-and-a-half years in July, figures from Statistics Estonia showed Monday.

Retail sales volume increased 10 percent year-on-year following 7 percent growth in June. The pace of growth was the fastest since a 12 percent increase in February 2012. The rate of growth improved for the second straight month.

Sales of textiles, clothing and footwear registered a robust 27 percent growth and those of pharmaceutical goods and cosmetics grew 14 percent.

Month-on-month, retail sales increased 6 percent. The sales growth was 3 percent on a seasonally-and-working-day adjusted basis.

by RTT Staff Writer

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