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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone PPI advanced more than expected in July
In the Euro-zone, the PPI jumped 12.10% on YoY basis in July, compared to an advance of 10.20% in the previous month. Markets were expecting the PPI to climb 11.00%.
US factory orders climbed more than expected in July
In the US, factory orders advanced 0.40% on a MoM basis in July, compared to a rise of 1.50% in the prior month. Markets were expecting factory orders to record a rise of 0.30%.
US initial jobless claims dropped more than market forecast in the week ended 27 August 2021
In the US, the number of initial jobless claims fell to a level of 340.00 K in the week ended 27 August 2021, compared to a revised level of 354.00 K in the prior week. Markets were expecting the initial jobless claims to fall to a level of 345.00 K.
US goods trade deficit narrowed in July
In the US, trade deficit narrowed to $70.05 billion in July, compared to a revised deficit of $73.23 billion in the previous month. Market expectations were for the nation to record a deficit of $71.00 billion.
Chinese Markit services PMI index dropped in August
In China, the Markit services PMI index registered a drop to 46.70 in August, compared to a reading of 54.90 in the previous month.
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