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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI fell in June
Compared to a level of 51.20 in the previous month the construction PMI in the UK dropped to 46.00 in June. Markets were anticipating the construction PMI to drop to a level of 50.70.
Euro-zone PPI rose more than expected in May
In May, on a monthly basis, the producer price index (PPI) in the Eurozone climbed 0.60%, more than market expectations for a rise of 0.30%. The PPI had recorded a drop of 0.30% in the previous month.
Euro-zone investor confidence index registered a drop in July
In the Euro-zone, the investor confidence index eased to 1.70 in July, compared to a reading of 9.90 in the previous month. Markets were expecting the investor confidence index to drop to 5.00.
Number of people unemployed in Spain fell in June
Number of people unemployed in Spain eased by 124.30 K in June, compared to a loss of 119.80 K in the prior month. Markets were anticipating number of people unemployed to fall 100.00 K.
BoC: Canadian firms remain cautious on investment
The Bank of Canada’s (BoC) second quarter business-outlook survey indicated that business sentiment in Canada remains subdued as weak commodity prices continue to weigh on firms’ investment intentions, in the latest sign that the nation’s economy still continues to struggle with the energy sector slump. Overall, modest domestic demand, uncertainty and insufficient foreign demand are key factors holding back investment intentions. Further, the firms expect to see only a marginal acceleration in sales growth over the next 12 months.
Canadian firms expecting sales to grow at a faster pace over the next 12 months recorded a drop in 2Q 2016
The BoC, in its latest business outlook survey indicated that the balance of opinion on future sales fell to 5.00% from 16.00% in the prior quarter.
Canada’s overall business lending conditions tightened in 2Q 2016
The BoC, in its quarterly senior loan officer survey on business-lending practices, indicated that overall business lending conditions in Canada tightened during the 2Q 2016, with the reading coming in at 23.90 from a reading of 6.60 in the previous quarter.
Japanese Markit composite PMI eased in June
In June, Markit composite PMI dropped to 49.00 in Japan, compared to a reading of 49.20 in the prior month.
Chinese Caixin composite PMI registered a drop in June
In June, Caixin composite PMI in China registered a drop to 50.30. In the previous month, Caixin composite PMI had recorded a reading of 50.50.
Chinese Caixin/Markit services PMI index rose in June
In June, the Caixin/Markit services PMI index registered a rise to 52.70 in China. The Caixin/Markit services PMI index had registered a reading of 51.20 in the prior month.
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