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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
S&P downgraded UK’s credit rating to “AA” from “AAA”
Standard & Poor (S&P) reduced UK’s credit rating by two steps to “AA” from “AAA”, citing the risk of a less predictable, stable, and effective policy framework in the UK. Additionally, Fitch cut the nation’s credit rank from “AA+” to “AA”, in response to the Brexit vote.
Euro-zone three-month average of M3 money supply rose in the March-May 2016 period
On a YoY basis, the three-month average of M3 money supply registered a rise of 4.80% in the Euro-zone, in the March-May 2016 period. The three-month average of M3 money supply had climbed 4.90% in the February-April 2016 period.
Euro-zone private sector loans rose in May
On an annual basis, private sector loans in the Euro-zone advanced 1.60% in May. In the prior month, private sector loans had climbed 1.50%.
Euro-zone M3 money supply rose more than expected in May
In May, M3 money supply recorded a rise of 4.90% on an annual basis in the Euro-zone, compared to an advance of 4.60% in the prior month. Markets were anticipating M3 money supply to rise 4.80%.
US Markit composite PMI recorded a rise in June
The flash Markit composite PMI rose to a level of 51.20 in June, in the US. In the prior month, Markit composite PMI had recorded a level of 50.90.
US Markit services PMI remained flat in June
In June, the flash Markit services PMI remained steady at a level of 51.30 in the US, compared to market expectations of an advance to a level of 51.90.
US Dallas Fed manufacturing business index recorded a rise in June
The Dallas Fed manufacturing business index rose to a level of -18.30 in June, in the US, compared to a level of -20.80 in the prior month. Market anticipation was for the Dallas Fed manufacturing business index to rise to a level of -15.00.
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