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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP unexpectedly advanced in 2Q 2022
In the UK, the GDP unexpectedly rose 0.20% on a QoQ basis in 2Q 2022, compared to a rise of 0.80% in the prior month. Markets were expecting the GDP to record a fall of 0.10%.
UK consumer credit declined more than anticipated in August
In the UK, consumer credit fell to £1.08 billion in August, compared to a revised reading of £1.48 billion in the previous month. Markets were anticipating consumer credit to fall to £1.40 billion.
Euro-zone CPI advanced more than expected in September
In Euro-zone, the consumer price index (CPI) climbed 10.00% on a YoY basis in September, compared to a rise of 9.10% in the prior month. Market expectations were for the CPI to rise 9.70%.
Euro-zone unemployment rate remained unchanged in September
In the Euro-zone, unemployment rate remained stable at 5.50% in September, at par with market expectations.
US Michigan consumer sentiment index unexpectedly dropped in September
In the US, the Michigan consumer sentiment index unexpectedly fell to 58.60 in September, compared to a reading of 58.20 in the prior month. Markets were expecting the index to rise to 59.50.
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