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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house prices unexpectedly dropped in July
In the UK, the Halifax house prices unexpectedly fell 0.10% in July, compared to a revised rise of 1.40% in the prior month. Markets were expecting the Halifax house prices to record a rise of 0.90%.
German industrial production unexpectedly advanced in June
In Germany, industrial production unexpectedly rose 0.40% on a MoM basis in June, compared to a revised fall of 0.10% in the previous month. Markets were anticipating industrial production to record a fall of 0.30%
US nonfarm payrolls climbed more than expected in July
In the US, nonfarm payrolls advanced by 528.00 K in July, compared to a revised level of 398.00 K jobs in the prior month. Market expectations were for the nonfarm payrolls to rise to 250.00 K jobs.
US average hourly earnings advanced more than expected in July
In the US, average hourly earnings rose 0.50% on a MoM basis in July, compared to a revised rise of 0.40% in the previous month. Markets were anticipating average hourly earnings to record a rise of 0.30%.
US unemployment rate unexpectedly declined in July
In the US, the unemployment rate unexpectedly fell to 3.50% in July, compared to a rate of 3.60% in the prior month. Market anticipations were for the unemployment rate to remain unchanged at 3.60%.
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