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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP unexpectedly rose in 2Q23
In the UK, GDP unexpectedly advanced 0.20% on a QoQ basis in 2Q23, compared to a rise of 0.10% in the prior quarter.
UK industrial production advanced more than anticipated in June
In the UK, industrial production rose 1.80% on a MoM basis in June, compared to a fall of 0.60% in the previous month. Markets were expecting industrial production to rise 0.10%.
UK manufacturing production climbed more than expected in June
In the UK, manufacturing production advanced 2.40% on a MoM basis in June, compared to a revised drop of 0.11% in the previous month. Market anticipations were for manufacturing production to rise 0.20%.
German current account surplus widened in June
In Germany, current account surplus widened to €29.60 billion in June, compared to a revised surplus of €8.20 billion in the previous month.
US PPI rose more than expected in July
In the US, the PPI advanced 0.80% on a YoY basis in July, compared to a revised rise of 0.20% in the previous month. Markets were expecting the index to rise 0.70%.
US Michigan consumer sentiment index dropped less than anticipated in August
In the US, the Michigan consumer sentiment index fell to 71.20 in August, compared to a level of 71.60 in the previous month. Markets were expecting the index to drop to 71.00.
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