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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP dropped less than expected in 2Q 2020
In the UK, final GDP dropped 19.80% on a QoQ basis in 2Q 2020, compared to a revised fall of 2.50% in the prior quarter. Markets were expecting GDP to record a fall of 20.40%.
UK house prices advanced more than expected in September
In the UK, seasonally adjusted house prices climbed 0.90% on a MoM basis in September, compared to a rise of 2.00% in the prior month. Markets were expecting house prices to record a rise of 0.50%.
UK current account deficit narrowed less than expected in 2Q 2020
In the UK, current account deficit narrowed to £2.80 billion in 2Q 2020, compared to a revised current account deficit of £20.80 billion in the prior quarter. Market anticipations were for a deficit of £0.40 billion.
German retail sales advanced more than expected in August
In Germany, retail sales registered a rise of 3.10% on a MoM basis in August, compared to a revised fall of 0.20% in the previous month. Markets were expecting retail sales to record a rise of 0.50%.
US annualised GDP declined less than expected in 2Q 2020
In the US, the final annualised GDP plunged 31.40% on a QoQ basis in 2Q 2020, compared to a drop of 5.00% in the prior quarter. Markets were expecting GDP to record a drop of 31.70%.
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