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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone retail PMI climbed in June
The retail PMI in the Euro-zone climbed to 51.80 in June. In the previous month, the index had registered a level of 51.70.
German factory orders rose more than expected in May
The seasonally adjusted factory orders advanced 2.60% in Germany on a monthly basis in May, compared to a revised drop of 1.60% in the previous month. Market expectation was for factory orders to climb 1.10%.
US Fed remained concerned over higher inflation
The US Federal Reserve (Fed), in its minutes for June monetary policy meeting, acknowledged that the policymakers might soon indicate that the policy was no longer boosting or constraining the economy as the central bank’s rate-hiking cycle has advanced enough.
US Markit services PMI declined in June
The final Markit services PMI in the US recorded a drop to 56.50 in June, in line with market expectations. In the previous month, the index had registered a level of 56.80.
Private sector employment in the US registered a rise in June
In the US, the private sector employment rose by 177.00 K in June, lower than market anticipations of an advance of 190.00 K. The private sector employment had recorded a revised increase of 189.00 K in the prior month.
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