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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB policymakers remained concerned over trade protectionism
The minutes of the ECB July monetary policy meeting showed that the officials remained concerned about the possible impact of global trade to the Euro-zone economy but also indicated that current economic growth remained firmly on track as the central bank prepares to end its massive bond buying programme.
Euro-zone manufacturing PMI unexpectedly dropped in August
The preliminary manufacturing PMI in the Euro-zone unexpectedly fell to a level of 54.60 in August, lower than market expectations of a rise to a level of 55.20. The index had recorded a level of 55.10 in the previous month.
German manufacturing PMI fell in August
The preliminary manufacturing PMI in Germany registered a drop to a level of 56.10 in August, lower than market expectations of a drop to a reading of 56.50. In the prior month, the index had recorded a level of 56.90.
US new home sales unexpectedly declined in July
In the US, new home sales unexpectedly dropped by 1.70%, on MoM basis, to a level of 627.00 K in July, lower than market expectations of 645.00 K. In the previous month, new home sales had registered a revised level of 638.00 K.
US Markit manufacturing PMI fell in August
The US flash Markit manufacturing PMI dropped to a level of 54.50 in August, lower than market expectations of a fall to a level of 55.00. In the prior month, the index had registered a level of 55.30.
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