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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK index of services advanced as expected in May
In May, the index of services rose 0.30% in the UK, on a monthly basis, in line with market expectations. The index of services had risen 0.50% in the February-April 2016 period.
UK index of services unexpectedly fell in May
On a monthly basis, the index of services in the UK unexpectedly fell 0.10% in May, compared to a rise of 0.60% in the prior month. Market anticipation was for the index of services to rise 0.10%.
UK CBI distributive trade survey’s retail sales balance declined in July
The CBI distributive trade survey’s retail sales balance eased to 14.00% in the UK, in July, compared to a level of 4.00% in the previous month. Markets were expecting the CBI distributive trade survey’s retail sales balance to ease to a level of 1.00%.
UK GDP advanced more than expected in 2Q 2016
In 2Q 2016, the flash gross domestic product (GDP) recorded a rise of 2.20% on a YoY basis in the UK, compared to a rise of 2.00% in the previous quarter. Market expectation was for GDP to advance 2.10%.
UK GDP rose more than expected in 2Q 2016
On a QoQ basis, the flash GDP climbed 0.60% in 2Q 2016, in the UK, higher than market expectations for an advance of 0.50%. In the previous quarter, GDP had registered a rise of 0.40%.
Euro-zone M3 money supply advanced as expected in June
In June, M3 money supply advanced 5.00% in the Euro-zone on a YoY basis, in line with market expectations. In the prior month, M3 money supply had advanced 4.90%.
German consumer confidence index recorded a decline in August
Compared to a reading of 10.10 in the previous month the consumer confidence index dropped to 10.00 in August, in Germany. Markets were expecting the consumer confidence index to fall to a level of 9.90.
German import price index declined as expected in June
On an annual basis, in June, the import price index registered a drop of 4.60% in Germany, compared to a fall of 5.50% in the prior month. Market anticipation was for the import price index to ease 4.60%.
German import price index rose less than expected in June
In June, the import price index in Germany registered a rise of 0.50% on a monthly basis, lower than market expectations for a rise of 0.60%. The import price index had climbed 0.90% in the prior month.
French PPI advanced in June
In France, the producer price index (PPI) registered a rise of 0.40% on a MoM basis, in June. The PPI had registered a revised similar rise in the previous month.
French consumer confidence fell in July
Consumer confidence eased to 96.00 in France, in July, in line with market expectations. In the prior month, consumer confidence had registered a reading of 97.00.
Italian business confidence index advanced unexpectedly in July
Compared to a revised level of 102.90 in the prior month the business confidence index in Italy registered an unexpected rise to a level of 103.10 in July. Markets were expecting the business confidence index to fall to 102.00.
Italian consumer confidence index rose surprisingly in July
In Italy, the consumer confidence index climbed unexpectedly to a level of 111.30 in July, higher than market expectations of a fall to a level of 109.20. In the previous month, the consumer confidence index had recorded a reading of 110.20.
Spanish retail sales advanced more than expected in June
On a YoY basis, retail sales registered a rise of 5.60% in June, in Spain, more than market expectations for a rise of 3.60%. In the prior month, retail sales had recorded a rise of 2.30%.
Swiss UBS consumption indicator climbed in June
UBS consumption indicator climbed to 1.34 in June, in Switzerland. UBS consumption indicator had registered a revised level of 1.24 in the prior month.
US Fed left rates unchanged at July meeting
The US Federal Reserve (Fed) kept the overnight interest rate target steady in the 0.25% to 0.5% range and reiterated that it continues to closely monitor global economic and financial developments. Moreover, the Fed cited improvements in the US labor market and stated that near-term risks to the economy have diminished.
US durable goods orders declined more than expected in June
The flash durable goods orders slid 4.00% in the US on a MoM basis in June, compared to a drop of 2.30% in the previous month. Markets were anticipating durable goods orders to ease 1.40%.
US pending home sales advanced less than expected in June
In the US, pending home sales climbed 0.30% on a YoY basis in June, lower than market expectations for a rise of 3.00%. Pending home sales had climbed 2.40% in the previous month.
US mortgage applications registered a drop in the last week
Mortgage applications recorded a drop of 11.20% in the US on a weekly basis, in the week ended 22 July 2016. In the previous week, mortgage applications had registered a drop of 1.30%.
US durable goods orders (ex transportation) unexpectedly declined in June
The preliminary durable goods orders (ex transportation) unexpectedly dropped 0.50% on a monthly basis in June, in the US, compared to a drop of 0.30% in the previous month. Markets were anticipating durable goods orders (ex transportation) to rise 0.30%.
US pending home sales advanced less than expected in June
On a MoM basis, pending home sales rose 0.20% in the US, in June, compared to a drop of 3.70% in the previous month. Market expectation was for pending home sales to climb 1.20%.
Japanese small business confidence index advanced in July
The small business confidence index recorded a rise to 47.80 in July, in Japan. The small business confidence index had recorded a reading of 46.50 in the prior month.
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