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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German factory orders unexpectedly dropped in July
The seasonally adjusted factory orders in Germany unexpectedly fell 0.90% on a MoM basis, in July, lower than market expectations for an advance of 1.80%. Factory orders had recorded a revised drop of 3.90% in the prior month.
US durable goods orders fell as expected in July
The US final durable goods orders dropped 1.70% on a monthly basis, in July, in line with market expectations. In the prior month, durable goods orders had registered a revised rise of 0.70%.
US Markit services PMI dropped in August
In the US, the final Markit services PMI eased to a level of 54.80 in August, compared to market expectations of a drop to a reading of 55.20. In the prior month, the index had registered a level of 56.00.
US initial jobless claims surprisingly eased in the last week
In the US, the seasonally adjusted initial jobless claims registered an unexpected drop to a level of 203.00 K in the week ended 01 September 2018, lower than market expectations of an unchanged reading. In the prior week, initial jobless claims had registered a level of 213.00 K.
US non-manufacturing PMI climbed in August
The non-manufacturing PMI in the US recorded a rise to a level of 58.50 in August, compared to market expectations of a rise to a reading of 56.80. The index had registered a reading of 55.70 in the previous month.
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