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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Mark Carney: UK economy threatened by rising Brexit risks
The Bank of England Governor, Mark Carney, warned that the British economy might need more help as global trade war and no-deal Brexit risks are growing. Moreover, he also stated that underlying growth in the UK was running below its potential and was heavily reliant on the resilience of household spending.
UK construction PMI unexpectedly dropped in June
In the UK, the construction PMI recorded an unexpected drop to a level of 43.10 in June, lower than market expectations of an advance to a level of 49.20. The construction PMI had recorded a reading of 48.60 in the previous month.
UK house prices advanced less than expected in June
In the UK, the seasonally adjusted house prices registered a rise of 0.10% on a MoM basis in June, compared to a fall of 0.20% in the prior month. Markets were anticipating house prices to climb 0.20%.
German retail sales rose more than expected in May
In Germany, retail sales recorded a rise of 4.00% on an YoY basis in May, compared to a revised rise of 4.60% in the prior month. Market expectation was for retail sales to climb 2.70%.
Japan services PMI rose in June
In Japan, services PMI rose to a level of 51.90 in June, compared to a reading of 51.70 in the previous month.
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