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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales unexpectedly dropped in July
In the UK, retail sales fell 2.50% on a MoM basis in July, compared to a revised rise of 0.20% in the previous month. Markets were expecting retail sales to record a rise of 0.40%.
German PPI climbed more than expected in July
In Germany, the PPI advanced 10.40% on a YoY basis in July, compared to a rise of 8.50% in the prior month. Markets were expecting the PPI to record an advance of 9.20%.
Australia’s manufacturing PMI fell more than anticipated in August
In Australia, the manufacturing PMI dropped to 51.70 in August, compared to a level of 56.90 in the previous month. Markets were expecting the manufacturing PMI to drop to 56.70.
Australia’s services PMI dropped more than expected in August
In Australia, the services PMI fell to 43.30 in August, compared to a reading of 44.20 in the prior month. Markets were expecting the services PMI to fall to 44.00.
Japan’s Jibun Bank manufacturing PMI unexpectedly fell in August
In Japan, the manufacturing PMI dropped to 52.40 in August, compared to a level of 53.00 in the previous month. Markets were expecting the manufacturing PMI to advance to 53.40.
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