Guardian Stockbrokers Key Economic News Thursday 13 July 2023

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

UK RICS housing price balance dropped more than anticipated in June

In the UK, the RICS housing price balance fell to -46.00 in June, compared to a level of -30.00 in the prior month. Market anticipations were for the housing price balance to drop to -34.00.

US MBA mortgage applications rose in the week ended 07 July 2023

In the US, the MBA mortgage applications advanced 0.90% in the week ended 07 July 2023, compared to a fall of 4.40% in the previous week.

US CPI rose less than expected in June

In the US, the CPI advanced 3.00% on a YoY basis in June, compared to a rise of 4.00% in the previous month. Markets were expecting the index to rise 3.10%.

Fed’s Beige Book: US economy growing at a modest pace

The US Fed, in its latest Beige Book report, stated that the US economy grew at a modest pace in late May and expects the slow growth to continue. However, businesses anticipate economic conditions to improve, though optimism remained muted.

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