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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced as expected in June
In the UK, the consumer price index (CPI) recorded a rise of 2.00% on a YoY basis in June, compared to a similar rise in the prior month. Market anticipation was for the CPI to rise 2.00%.
Euro-zone construction output declined in May
In the Euro-zone, the seasonally adjusted construction output slid 0.30% on a MoM basis in May, compared to a revised fall of 1.70% in the previous month.
Euro-zone CPI advanced more than expected in June
In the Euro-zone, the CPI advanced 0.20% on a MoM basis in June, higher than market expectations for a rise of 0.10%. In the previous month, the index had registered a rise of 0.10%.
Fed’s Beige Book: US economy ‘generally positive’ despite trade uncertainty
According to the US Federal Reserve’s (Fed) latest Beige Book report, the US economy grew at a modest pace in recent weeks, led by consumer spending and an overall ‘generally positive’ outlook despite disruptions caused by the US trade policy. Meanwhile, it indicated that employment continued to improve and labour markets remained tight, with contacts across the country experiencing difficulties filling open positions.
US building permits unexpectedly slid in June
In the US, building permits unexpectedly fell by 6.10%, on MoM basis, to an annual rate of 1220.00 K in June, compared to a revised reading of 1299.00 K in the prior month. Market anticipation was for building permits to rise to 1300.00 K.
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