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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK consumer credit advanced more than expected in June
In the UK, consumer credit recorded a rise of £1.78 billion in June, compared to a revised reading of £0.90 billion in the prior month. Markets were expecting consumer credit to rise to £1.00 billion.
Euro-zone GDP climbed more than expected in the second quarter
In the Euro-zone, GDP rose 0.70% on a QoQ basis in 2Q 2022, compared to a rise of 0.60% in the prior month. Market expectations were for GDP to record a rise of 0.20%.
Euro-zone CPI rose more than anticipated in July
In the Euro-zone, the CPI climbed 8.90% on a YoY basis in July, compared to a rise of 8.60% in the previous month. Market anticipations were for the CPI to record a rise of 8.60%.
Germany GDP recorded a flat reading in the second quarter
In Germany, GDP recorded a flat reading on a QoQ basis in 2Q 2022, compared to a revised rise of 0.80% in the prior month. Markets were expecting GDP to record a rise of 0.10%.
US Michigan consumer sentiment index climbed more than expected in July
In the US, the Michigan consumer sentiment index rose to 51.50 in July, compared to a reading of 50.00 in the prior month. Markets were expecting the index to rise to a level of 51.10.
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