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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price index rose more than expected in August
In the UK, the Halifax house price index registered a rise of 0.30% on a MoM basis in August, more than market expectations for an advance of 0.20%. In the previous month, the index had dropped 0.20%.
Euro-zone GDP rose as expected in 2Q 2019
In the Euro-zone, the seasonally adjusted final GDP advanced 0.20% on a QoQ basis in 2Q 2019, at par with market expectations. GDP had registered a rise of 0.40% in the prior quarter.
German industrial production unexpectedly slid in July
In Germany, the seasonally adjusted industrial production unexpectedly fell 0.60% on a MoM basis in July, lower than market expectations for a rise of 0.40%. Industrial production had fallen by a revised 1.10% in the prior month.
Powell reiterates vow to act ‘as appropriate’, downplays recession fears
The US Federal Reserve (Fed) Chairman, Jerome Powell, stated that the US economy faced a favorable outlook despite significant risks from weaker global growth and trade uncertainty. Further, he stated that the labour market was strong, and the central bank will continue to “act as appropriate” to sustain economic expansion. Additionally, he expects US and the world economy to avoid any recession and grow moderately.
US non-farm payrolls advanced in August
In the US, non-farm payrolls advanced by level of 130.00 K in August, following a revised advance of 159.00 K in the previous month. Market expectation was for non-farm payrolls to rise 160.00 K.
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