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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK three month moving average unemployment rate unexpectedly advanced in May
In the UK, the unemployment rate unexpectedly climbed to 4.80% in the three months ended May, compared to 4.70% in the previous month. Markets were expecting the unemployment rate to record a steady rate of 4.70%.
UK average earnings including bonus climbed more than expected in May
In the UK, average earnings including bonus rose 7.30% on a YoY basis in May, compared to revised rise of 5.70% in the prior month. Markets were expecting average earnings to record an advance of 7.20%.
US industrial production advanced less than expected in June
In the US, industrial production rose 0.40% on a MoM basis in June, compared to revised rise of 0.70% in the prior month. Markets were expecting industrial production to record a rise of 0.70%.
US initial jobless claims dropped in the week ended 09 July 2021
In the US, seasonally adjusted initial jobless claims fell to a level of 360.00 K in the week ended 09 July 2021, in line with market expectations and compared to a revised level of 386.00 K in the previous week.
US Philadelphia Fed manufacturing index fell more than anticipated in July
In the US, the Philadelphia Fed manufacturing index dropped to a reading of 21.90 in July, compared to a level of 30.70 in the prior month. Markets were expecting for the index to drop to a level of 28.00.
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