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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German IFO business climate index unexpectedly dropped in July
In Germany, the IFO business climate index fell to 100.80 in July, compared to a revised reading of 101.70 in the previous month. Markets were expecting the index to rise to a level of 102.10.
German IFO current assessment index climbed less than expected in July
In Germany, the IFO current assessment index advanced to 100.40 in July, compared to a revised level of 99.70 in the prior month. Markets were expecting the index to advance to 101.60.
German IFO business expectations index fell more than expected in July
In Germany, the IFO business expectations index dropped to 101.20 in July, compared to a revised level of 103.70 in the previous month. Markets were expecting the index to drop to 103.30.
US new home sales unexpectedly dropped in June
In the US, new home sales fell 6.60% on a MoM basis in June, compared to a revised drop of 7.80% in the prior month. Markets were expecting new home sales to record an advance of 3.50%.
US Dallas Fed manufacturing business index fell in July
In the US, the manufacturing business index declined to a level of 27.30 in July, compared to a reading of 31.10 in the previous month.
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