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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector borrowing deficit narrowed in July
In the UK, public sector borrowing deficit narrowed to £4.18 billion in July, compared to a revised deficit of £20.09 billion in the prior month.
UK retail sales unexpectedly advanced in July
In the UK, retail sales unexpectedly climbed 0.30% on a MoM basis in July, compared to a revised fall of 0.20% in the previous month. Markets were anticipating retail sales to record a fall of 0.20%.
Euro-zone reported a current account surplus in June
The Euro-zone posted a current account surplus of €4.24 billion in June, compared to a revised deficit of €6.9 billion in the prior month.
Germany PPI climbed more than anticipated in July
In Germany, the PPI advanced 37.20% on a YoY basis in July, compared to a rise of 32.70% in the prior month. Market anticipations were for the PPI to record a rise of 32.00%.
PBOC cuts its key interest rate
The People’s Bank of China (PBOC), in its latest monetary policy decision, cut its benchmark interest rate by 5 basis points to 3.65%.
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