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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German consumer confidence index rose more than expected in July
In Germany, the consumer confidence index advanced to a level of -9.60 in July, compared to a revised reading of -18.60 in the previous month. Markets were expecting the consumer confidence index to rise to -12.00.
US annualized GDP fell in 1Q 2020
In the US, the final annualized gross domestic product (GDP) dropped 5.00% on a QoQ basis in 1Q 2020, compared to a revised 4.80% fall in the previous quarter. Markets were expecting the annualized GDP to record a drop of 5.00%.
US durable goods orders advanced in May
In the US, the preliminary durable goods orders recorded a rise of 15.80% on a MoM basis in May, compared to a drop of 18.10% in the previous month. Markets were expecting durable goods orders to record an advance of 10.60%.
US number of initial jobless claims dropped in the last week
In the US, the seasonally adjusted number of initial jobless claims eased to a level of 1480.00 K in the week ended 20 June 2020, compared to a revised level of 1540.00 K in prior week. Market expectations were for number of initial jobless claims to drop to 1300.00 K.
US advance goods trade deficit widened in May
In the US, advance goods trade deficit widened to $74.34 billion in May, compared to an advance goods trade deficit of $70.73 billion in the previous month.
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