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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE keeps interest rates and bond-buying program unchanged
The BoE, in its latest monetary policy decision, kept its key interest rate steady at 0.1% and left the size of its bond-buying program unchanged at £745 billion. The central bank warned of a slower economic recovery and unemployment to almost double by the end of this year.
UK construction PMI rose in July
In the UK, the construction PMI recorded a rise to a reading of 58.10 in July, compared to a level of 55.30 in the previous month. Market expectations were for the construction PMI to rise to a level of 57.00.
German factory orders climbed more than expected in June
In Germany, the seasonally adjusted factory orders surged 27.90% on a MoM basis in June, compared to a rise of 10.40% in the previous month. Markets were expecting factory orders to record an advance of 10.10%.
US number of initial jobless claims dropped in the week ended 31 July 2020
In the US, the seasonally adjusted number of initial jobless claims declined to 1186.00 K in week ended 31 July 2020, compared to a revised reading of 1435.00 K in the previous week. Market anticipations were for the number of initial jobless claims to drop to a level of 1415.00 K.
Australian performance of services index climbed in July
In Australia, the performance of services index advanced to a reading of 44.00 in July, compared to a level of 31.50 in the previous month.
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