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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales advanced more than expected in July
In the UK, retail sales rose 3.60% on a MoM basis in July, compared to a rise of 13.90% in the prior month. Markets were expecting retail sales to record a rise of 2.00%.
UK manufacturing PMI rose in August
In the UK, the preliminary manufacturing PMI recorded a rise to a level of 55.30 in August, compared to a reading of 53.30 in the previous month. Markets were anticipating the manufacturing PMI to advance to a level of 53.80.
UK services PMI rose in August
In the UK, the flash services PMI recorded a rise to a reading of 60.10 in August, compared to a level of 56.50 in the prior month. Market expectations were for the services PMI to rise to 57.00.
Euro-zone manufacturing PMI unexpectedly dropped in August
In the Euro-zone, the flash manufacturing PMI unexpectedly dropped to a level of 51.70 in August, compared to a reading of 51.80 in the previous month. Market expectations were for the manufacturing PMI to advance to a level of 52.90.
US manufacturing PMI rose more than expected in August
In the US, the preliminary Markit manufacturing PMI climbed to a level of 53.60 in August, compared to a reading of 50.90 in the prior month. Markets were expecting the Markit manufacturing PMI to record an advance to a level of 51.90.
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