German industrial output rises in July. Despite supply chain problems, Germany's industrial output grew for the first time in four months in July, supported by higher production of capital and consumer goods, Destatis said on Tuesday. The Federal Statistics Office said industrial output, including construction and energy, increased by one percent in July after a revised decline of one percent in June. Economists had expected a rise of 0.9 percent. Output in manufacturing alone jumped by 1.3 percent as factories produced more capital and consumer goods. Construction output rose by 1.1 percent while production in the energy sector fell by 3.2 percent. "Even if the supply bottlenecks with semiconductors, which have slowed down production, are likely to persist for a while, the output figures suggest that industry could have overcome its low point," the economy ministry said.

UK housing market takes a breather after tapering of stamp duty holiday. The UK property market pause for breath in August, with a survey showing sales and demand easing. The Royal Institution of Chartered Surveyors (RICS) update indicates that the tapering of a stamp-duty holiday on 1st July has poured cold water on a housing market that defied the economic slump. A shortage of properties continues to help to underpin prices. RICS’s gauge of new buyer enquiries slipped in August to its lowest level since January, as did its measure of agreed sales. But with demand still far exceeding supply - driven by people seeking bigger homes as they work remotely - the vast majority of surveyors polled by RICS - a net 73 percent - reported rising house prices, albeit down from a reading of 79 percent in July.00

China producer price inflation surges in August while consumer price growth slows. Producer price inflation in China accelerated to a 13-year high in August on higher commodity prices, while consumer price inflation slowed unexpectedly, an official report showed on Thursday. Producer prices rose by 9.5 percent annually, following an increase of nine percent in July, the National Bureau of Statistics reported. The latest growth was the biggest since August 2008. Economists had forecast that prices were would climb again by nine percent. Month-on-month, producer prices grew by 0.7 percent in August. Consumer price inflation rose to 0.8 percent in August from one percent in July, the NBS said in a separate report. The rate was forecast to remain unchanged at one percent. On a monthly basis, consumer prices edged up 0.1 percent, much slower than the expected rate of 0.5 percent. The government targets consumer price inflation of around three percent for 2021.

India’s PMI rises in August. India’s dominating services sector grew for the first time in four months to a one and a half-year high in August as vaccine access improved and consumer traffic rose following reopening of several establishments, showed IHS Markit Purchasing Managers' Index (PMI) survey. However, companies continued to reduce their workforce, though at a slower pace than earlier. The index rose to 56.7 in August from 45.4 in the previous month. A reading above 50 shows expansion and one below that means contraction. Apart from re-opening of many establishments and increase in consumer traffic, companies also attributed the rise in activities to successful advertising.