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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone economic sentiment indicator rose in July
In the Euro-zone, the economic sentiment indicator recorded a rise to a level of 82.30 in July, compared to a revised reading of 75.80 in the previous month. Markets were anticipating the economic sentiment indicator to rise to a level of 81.00.
Euro-zone unemployment rate unexpectedly climbed in June
In the Euro-zone, the unemployment rate registered an unexpected rise to 7.80% in June, compared to a revised rate of 7.70% in the previous month. Markets were anticipating the unemployment rate to record a steady rate of 7.70%.
German GDP fell more than expected in 2Q 2020
In Germany, the seasonally adjusted flash GDP dropped 10.10% on a QoQ basis in 2Q 2020, compared to a fall of 2.00% in previous quarter. Market anticipations were for GDP to fall 9.00%.
German CPI unexpectedly dropped in July
In Germany, the preliminary CPI fell 0.10% on a YoY basis in July, compared to a rise of 0.90% in the previous month. Markets were expecting the CPI to record an advance of 0.20%.
US annualised GDP fell less than expected in 2Q 2020
In the US, the preliminary annualised GDP recorded a plunge of 32.90% on a QoQ basis in 2Q 2020, compared to a drop of 5.00% in the prior quarter. Markets were expecting the GDP to record a decline of 34.10%.
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