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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI dropped in July
The UK’s manufacturing PMI registered a drop to a level of 54.00 in July, lower than market expectations of a fall to a reading of 54.20. The index had registered a revised reading of 54.30 in the previous month.
Euro-zone manufacturing PMI rose in July
In the Euro-zone, the final manufacturing PMI recorded a rise to a level of 55.10 in July, at par with market expectations. In the previous month, the index had registered a level of 54.90.
German manufacturing PMI climbed in July
In July, the final manufacturing PMI in Germany registered a rise to a level of 56.90, compared to a reading of 55.90 in the prior month. Market anticipation was for the index to rise to a level of 57.30.
US Fed kept its key interest rate steady
The Federal Reserve (Fed), in its two-day policy meeting, left its benchmark interest rate steady at 2.00%, as expected. Also, the central bank acknowledged strong economic growth in the US and provided hints that it will raise its interest rates in September.
US ISM manufacturing activity index dropped in July
In the US, the ISM manufacturing activity index recorded a drop to a level of 58.10 in July, lower than market expectations of a drop to a level of 59.30. In the previous month, the index had registered a reading of 60.20.
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