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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI rose more than expected in June
In the UK, the consumer price index (CPI) climbed 0.60% on a YoY basis in June, compared to a rise of 0.50% in the prior month. Markets were expecting the CPI to record a rise of 0.40%.
UK retail price index rose in June
In the UK, the retail price index registered a rise to a level of 0.20% on a MoM basis in June, meeting market expectations and compared to fall of 0.10% in the previous month.
Fed’s Beige Book: Economic activity increasing in all districts
According to the US Federal Reserve’s (Fed) latest Beige Book report, economic activity increased in almost all districts, but remained well below compared to the levels prior to the Covid-19 pandemic. Further, the report indicated that economic outlook remained highly uncertain, amid doubts over how long the Covid-19 pandemic would continue and the magnitude of its economic implications.
US industrial production advanced more than expected in June
In the US, industrial production recorded a rise of 5.40% on a MoM basis in June, compared to a rise of 1.40% in the previous month. Markets were expecting industrial production to record an advance of 4.30%.
US manufacturing production climbed in June
In the US, manufacturing production registered a jump of 7.20% on a MoM basis in June, compared to a rise of 03.80% in the prior month.
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