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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales rose more than expected in July
In the UK, retail sales rose 3.30% on a YoY basis in July, more than market expectations for an advance of 2.50%. In the previous month, retail sales had climbed 3.80%.
US industrial production unexpectedly eased in July
In the US, industrial production recorded an unexpected drop of 0.20% on a MoM basis in July, less than market expectations for an advance of 0.10%. Industrial production had registered a revised rise of 0.20% in the prior month.
US advance retail sales rose more than expected in July
In the US, advance retail sales advanced 0.70% on a MoM basis in July, compared to a revised advance of 0.30% in the prior month. Market anticipation was for advance retail sales to climb 0.30%.
US Philadelphia Fed manufacturing index declined in August
In the US, the Philadelphia Fed manufacturing index fell to a level of 16.80 in August, higher than market expectations of a fall to a level of 9.50. In the prior month, Philadelphia Fed manufacturing index had recorded a level of 21.80.
US housing market index climbed unexpectedly in August
In the US, the housing market index rose unexpectedly to a level of 66.00 in August, higher than market expectations of an unchanged reading. The housing market index had recorded a level of 65.00 in the previous month.
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