Service sector growth in the U.S. accelerated more than expected in the month of August, the Institute for Supply Management revealed in a report released on Thursday. The ISM said its services PMI rose to 55.4 in August from 54.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 54.3.

Reflecting a jump in imports and a slump in exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened significantly in the month of July. The Commerce Department said the trade deficit surged to $88.6 billion in July from a revised $71.2 billion in June.

First-time claims for U.S. unemployment benefits crept slightly higher in the week ended August 29th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims edged up to 206,000, an increase of 2,000 from the previous week's revised level of 204,000.

The Swiss franc strengthened against most major currencies in the European session on Thursday, after Switzerland's consumer price inflation accelerated more-than-expected in August to the highest level in nearly two years.

The euro area private sector posted robust growth in August as the industrial economy gained momentum and services activity expanded for a second consecutive month, final survey data from S&P Global showed Thursday. The final composite output index posted 52.0 in August, unchanged from July's eight-month high and slightly down from the flash score of 52.1.

Switzerland's economy expanded at the fastest pace in nearly five years in the second quarter, the State Secretariat for Economic Affairs, or SECO said Thursday. Gross domestic product logged a quarterly growth of 1.5 percent, the fastest since the third quarter of 2021. The rate matched the preliminary estimate released in August and followed a growth of 0.5 percent in the first quarter.

China's services activity grew at a faster pace in August driven by the increase in new business and sustained growth in employment, survey results published by S&P Global showed Thursday. The headline RatingDog services Purchasing Managers' Index rose to 51.4 in August from 50.4 in July. The reading was expected to rise moderately to 50.6.

New orders for U.S. manufactured goods rebounded by more than expected in the month of July, according to a report released by the Commerce Department on Wednesday. The Commerce Department said factory orders increased by 0.9 percent in July after edging down by a revised 0.2 percent in June.

With the economy and inflation evolving broadly as forecast, the Bank of Canada on Wednesday announced its widely expected decision to once again leave interest rates unchanged.

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by less than expected in the month of August. ADP said private sector employment rose by 38,000 jobs in August after climbing by an upwardly revised 46,000 jobs in July. Economists had expected private sector employment to grow by 48,000 jobs.

The Japanese yen strengthened against other major currencies in the European session on Wednesday, as European stock markets traded higher due to concerns over rising oil prices and bond yields.

Australia's economy logged a stronger-than-expected growth in the second quarter, raising prospects of interest rate hikes by the Reserve Bank of Australia. Gross domestic product grew 2.1 percent from the previous year, the Australian Bureau of Statistics said Wednesday. This was slower than first quarter's 2.5 percent expansion but better than forecast of 1.8 percent.

The Reserve Bank of New Zealand delivered back-to-back rate hikes to contain inflation and also signaled further tightening. The Monetary Policy Committee, governed by Anna Breman, decided to raise the Official Cash Rate by 25 basis points to 2.75 percent.

Partly reflecting a steep drop in spending on residential construction, the Commerce Department released a report on Tuesday showing construction spending in the U.S. unexpectedly decreased in the month of July. The report said construction spending fell by 0.5 percent to an annual rate of $2.158 trillion in July after coming in virtually unchanged at a revised rate of $2.168 trillion in June.

A report released by the Institute for Supply Management on Tuesday showed a modest slowdown in the pace of growth in U.S. manufacturing activity in the month of August. The ISM said its manufacturing PMI dipped to 54.6 in August from 55.6 in July, although a reading above 50 still indicates growth. Economists had expected the index to edge down to 55.2.

The euro area manufacturing sector expanded at the strongest pace since 2022 in August, final data from S&P Global showed on Tuesday. The manufacturing Purchasing Managers' Index hit a 51-month high of 52.7 in August from 51.9 in July. The reading was slightly down from the flash estimate of 52.8. Both factory output and incoming new orders increased at their fastest rates since early-2022.

UK mortgage approvals declined to the lowest since early 2024, while consumer credit reached its highest level since late 2025, the Bank of England said Tuesday. The number of mortgages approved in July declined unexpectedly to 56,053 from 58,215 in June. This was the lowest since January 2024.

Eurozone inflation accelerated to the highest level in nearly three years in August, reinforcing expectations for an interest rate hike at the European Central Bank's meeting next week. Inflation advanced to 3.3 percent in August, as expected, from 2.9 percent in July, flash data from Eurostat revealed Tuesday. The rate was the highest since September 2023, when inflation was 4.4 percent.

UK house price growth accelerated in August despite economic uncertainties, data from the Nationwide Building Society showed Tuesday. House prices grew 1.6 percent on a yearly basis, faster than the 1.4 percent rise in July but weaker than economists' forecast of 2.0 percent. Month-on-month, house prices gained 0.2 percent, in contrast to the 0.1 percent fall in July.

The U.S. Dollar staged a strong comeback during the week ended August 28 amidst hawkish hints from Kevin Warsh at his first speech as Fed Chair at the Jackson Hole symposium.

Germany's inflation accelerated to a four-month high in August on energy prices, flash data from Destatis showed on Monday. Consumer prices rose 2.9 percent year-on-year in August after a 2.8 percent gain in July. A similar higher rate was last seen in April. Prices were expected to climb 3.0 percent. EU harmonized inflation also rose to a four-month high of 2.9 percent from 2.8 percent.

The Japanese yen strengthened against other major currencies in the European session on Monday, as the recent economic data added the possibility that the Bank of Japan (BoJ) will raise its interest rates in September.

Federal Reserve Chairman Kevin Warsh delivered his highly anticipated debut speech as the head of the central bank at the Jackson Hole economic symposium on Friday. As widely expected, Warsh began his remarks by highlighting his aversion to providing "forward guidance," noting his "long-time discomfort with early pronouncements of future policy decisions."

Consumer sentiment in the U.S. deteriorated by slightly less than previously estimated in the month of August, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for August was upwardly revised to 51.7 from a preliminary reading of 51.0.

MNI Indicators released a report on Friday unexpectedly showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer plunged to 47.1 in August from 57.6 in July, with a reading below 50 indicating contraction. Economists had expected the index to rise to 59.0.