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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI climbed in August
In the UK, the services PMI recorded a rise to a level of 54.30 in August, higher than market expectations of a rise to a level of 53.90. The index had recorded a reading of 53.50 in the previous month.
Euro-zone services PMI climbed in August
The final services PMI in the Euro-zone registered a rise to a level of 54.40 in August, compared to a level of 54.20 in the prior month.
German services PMI advanced in August
In Germany, the final services PMI rose to a level of 55.00 in August, compared to market expectations of a rise to a reading of 55.20. In the previous month, the index had registered a reading of 54.10.
US recorded trade deficit in July
Trade deficit in the US stood at $50.10 billion in July, following a revised deficit of $45.70 billion in the previous month. Market anticipation was for the nation’s deficit to rise to $50.20 billion.
Bank of Canada kept its key interest rate unchanged
The Bank of Canada, in its September monetary policy meeting, as widely expected, kept its benchmark interest rate unchanged at 1.50%. The central bank stated that the future pace of interest rate hike could be affected by the outcome of NAFTA negotiations.
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