China: Chinese Manufacturing PMI Reaches 27-month High in July
The Chinese PMI manufacturing index rose from 51.0 in June to 51.7 in July, reaching a 27-month high. The reading suggests that the government’s mini-stimulus packages helped to boost the economy. (Source: Trading Floor)

United States: U.S. Job Growth Seen Slowing, but Remaining Solid in July
The latest unemployment data show that job growth might have cooled down in July. Nonfarm payrolls probably increased by 233,000 while the unemployment rate remained at 6.1%, the lowest rate in six years. These data suggest that the economy remained on solid ground. (Source: Reuters)

Global: WTO Trade Agreement Falls Through As India Toughens Stand
The World Trade Organization, or WTO, failed to ratify its first landmark deal since its inception in 1995 as the deadline for signing the Trade Facilitation Agreement ended on Thursday. (Source: International Business Times)

Argentina: Argentina’s Saga: No Movement
Argentina has defaulted again, but a deal with its creditors is not out of the question. The Economist presents an interesting article about Argentina’s history of defaults. (Source: The Economist)

Japan: Japan Must Hike Sales Tax Again to Conquer Debt, IMF says
According to the IMF, Japan must raise its sales tax again to conquer one of the world’s heaviest public debt burdens. “Given very high levels of public debt, implementation of the second consumption tax increase is critical to establish a track record of fiscal discipline.” (Source: The Japan Times)

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