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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI climbed less than expected in August
In the UK, the final services PMI advanced to a level of 58.80 in August, compared to a reading of 56.50 in the prior month. Market expectations were for the services PMI to rise to a level of 60.10.
Euro-zone services PMI dropped in August
In the Euro-zone, the final services PMI registered a drop to a level of 50.50 in August, compared to a reading of 54.70 in the previous month. Market anticipations were for services PMI to drop to a level of 50.10.
Euro-zone retail sales unexpectedly fell in July
In the Euro-zone, the seasonally adjusted retail sales registered a drop of 1.30% on a MoM basis in July, compared to a revised rise of 5.30% in the prior month. Markets were anticipating retail sales to rise 1.50%.
German services PMI declined in August
In Germany, the final services PMI dropped to a level of 52.50 in August, compared to a level of 55.60 in the previous month. Markets were expecting services PMI to drop to a level of 50.80.
US Markit services PMI rose more than anticipated in August
In the US, the final Markit services PMI climbed to a level of 55.00 in August, compared to a reading of 50.00 in the previous month. Markets were expecting the services PMI to record a rise to a level of 54.80.
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