In the US, last week’s jobs report showed that non-farm payrolls jumped by 103,000 workers after a revised 57,000 increase the prior month. The increase was more than originally estimated. Analysts polled by Bloomberg News predicted a rise of 60,000.

This positive jobs report added to the string of positive economic data from the US and comes on the heels of an upward revision in the second-quarter GDP and better-than-expected Institute of Supply Management figures.

The unemployment rate was unchanged at 9.1%.

As was highlighted last week, recent US economic figures, coupled with the fact that US companies are generally in good shape, are raising hopes that the US may dodge a double dip recession.

Meanwhile, the jobless rate in the UK increased to 8.1% from 7.9% in the three months to July, according the UK Office of National Statistics. The number of unemployed increased to 2.57 million, a 17-year high.

With the economy at a virtual standstill, the UK government is under pressure to loosen its fiscal policy.

In the meantime, the Bank of England restarted its asset-purchase program in response to anaemic growth.

Finally, German industrial production in August fell by only 1% month-on-month after a jump of 3.9% in July. This was better than the 2% fall anticipated.

In any case, the fall may be due to the fact that this year there were many summer holidays in August.

Separately, the German trade surplus widened in August due to flat imports growth and a strong 3.5% month-on-month increase in exports.

This article was compiled by Bank of Valletta plc for general information purposes only.