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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK S&P Global/CIPS services PMI dropped less than expected in August
In the UK, the S&P Global/CIPS services PMI fell to 49.50 in August, compared to a level of 51.50 in the previous month. Markets were expecting the PMI to drop to 48.70.
Euro-zone HCOB services PMI fell more than anticipated in August
In the Euro-zone, the HCOB services PMI declined to 47.90 in August, compared to a level of 50.90 in the prior month. Markets were expecting the PMI to fall to 48.30.
Euro-zone PPI eased as anticipated in July
In the Euro-zone, the PPI fell 7.60% on a YoY basis in July, at par with market expectations and compared to a fall of 3.40% in the previous month.
German HCOB services PMI declined as expected in August
In Germany, the HCOB services PMI fell to 47.30 in August, at par with market expectations and compared to a level of 52.30 in the prior month.
US factory orders dropped less than anticipated in July
In the US, factory orders eased 2.10% on a MoM basis in July, compared to a rise of 2.30% in the previous month. Markets were expecting factory orders to drop 2.50%.
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