Market Information Wednesday 6 September 2023

Eurozone producer prices fell again in July. This was revealed on Tuesday by Eurostat, the European statistical office. On a monthly basis, producer prices fell 0.5%, following a 0.4% decline in June. Economists’ expectations were for a 0.6% decline. On a year-on-year basis, producer prices fell as much as 7.6% in July. A month earlier, the decline was 3.4%. Excluding energy prices, producer prices fell 0.4% on a monthly basis in July, following a minus of also 0.4% a month earlier. On a year-on-year basis, prices excluding energy rose 1.6%.

Orders placed at US factories fell almost as much in July as they rose a month earlier. This was revealed by US government figures on Tuesday. Factory orders fell 2.1% month-on-month, after rising 2.3% a month earlier. Analysts expected a 2.3% decline for July. Orders excluding the military fell 2.2% in July and excluding transport were up 0.8%.

China’s services sector grew at a significantly slower pace in August. This was revealed by figures from S&P Global on Tuesday. The services purchasing managers’ index came in at 51.8 in August, down from 54.1 in July. This caused the index to drop to its lowest level in eight months. China’s purchasing managers’ index for manufacturing was found to have risen to 51.0 in August from 49.2 in July last Friday. The composite index thus fell to 51.7 from 51.9, the lowest reading since January.

The 6M Euribor increased with 3 basis points to 3.96% compared to previous business day. The 10Y Swap increased with 2 basis points to 3.17% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.