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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector net borrowing posted a deficit in May
In the UK, the public sector net borrowing has posted a deficit of £4.50 billion in May, compared to a revised deficit of £6.20 billion in the previous month. Markets were anticipating public sector net borrowing to report a deficit of £3.20 billion.
Euro-zone manufacturing PMI rose in June
The preliminary manufacturing PMI in the Euro-zone registered a rise to a reading of 47.80 in June, compared to a level of 47.70 in the prior month. Market anticipation was for the manufacturing PMI to climb to a level of 48.00.
Eurozone services PMI rose in June
In the Euro-zone, the flash services PMI climbed to a level of 53.40 in June, higher than market expectations of a rise to a reading of 53.00. In the prior month, services PMI had registered a level of 52.90.
US services PMI surprisingly fell in June
In the US, the services PMI eased unexpectedly to a level of 50.70 in June, lower than market expectations of an advance to a level of 51.00. In the previous month, Markit services PMI had registered a level of 50.90.
US manufacturing PMI surprisingly fell in June
In the US, the flash manufacturing PMI registered an unexpected drop to a level of 50.10 in June, compared to a level of 50.50 in the previous month. Markets were expecting the manufacturing PMI to record a steady reading.
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