Guardian Stockbrokers Key Economic News Thursday 4 August 2022

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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UK services PMI declined more than expected in July

In the UK, the S&P Global/CIPS services PMI fell to 52.60 in July, compared to a reading of 54.30 in the prior month. Markets were expecting the services PMI to fall to 53.30.

Euro-zone services PMI dropped less than anticipated in July

In the Euro-zone, the S&P Global services PMI fell to 51.20 in July, compared to a reading of 53.00 in the previous month. Market anticipations were for the services PMI to fall to 50.60.

German services PMI dropped less than expected in July

In Germany, the final services PMI registered a drop to 49.70 in July, compared to a reading of 52.40 in the previous month. Markets were anticipating services PMI to fall to 49.20.

US services PMI unexpectedly advanced in July

In the US, the ISM services PMI unexpectedly advanced to a level of 56.70 in July, compared to a reading of 55.30 in the previous month. Markets were expecting the services PMI to record a drop to 54.00.

US factory orders climbed more than expected in June

In the US, factory orders advanced 2.00% on a MoM basis in June, compared to a revised rise of 1.80% in the previous month. Markets were expecting factory orders to record a rise of 1.10%.

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