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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 recorded a rise of 3.50% on an annual basis, in July, more than market expectations for a climb of 2.90%. Retail sales had registered a jump of 2.90% in the previous month.
Euro-zone trade surplus narrowed in June
The seasonally adjusted trade surplus in the Euro-zone dropped to €16.70 billion in June, compared to a surplus of €16.90 billion in the previous month. Markets were anticipating the region to register a surplus of €16.90 billion.
US initial jobless claims surprisingly dropped in the last week
In the US, the seasonally adjusted initial jobless claims recorded an unexpected drop to a level of 212.00 K in the week ended 11 August 2018, compared to a revised level of 214.00 K in the previous week. Market expectation was for initial jobless claims to rise to a level of 215.00 K.
US building permits rose in July
The US building permits registered a rise of 1.50%, on MoM basis, to an annual rate of 1311.00 K in July, compared to a revised reading of 1292.00 K in the previous month. Markets were expecting building permits to rise to 1310.00 K.
US housing starts advanced in July
In the US, housing starts climbed 0.90%, on monthly basis, to an annual rate of 1168.00 K in July, compared to a revised level of 1158.00 K in the previous month. Markets were expecting housing starts to rise to 1260.00 K.
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