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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK ILO unemployment rate remained unchanged in the March-May 2019 period
In the UK, the ILO unemployment rate remained flat at a level of 3.80% in the March-May 2019 period, in line with market expectations.
Euro-zone trade surplus widened in May
In the Euro-zone, the seasonally adjusted trade surplus rose to €20.20 billion in May, more than market expectations of a trade surplus of €17.80 billion. The region had reported a revised trade surplus of €15.70 billion in the prior month.
Euro-zone economic sentiment index fell in July
In the Euro-zone, the economic sentiment index fell to a level of -20.30 in July, compared to a reading of -20.20 in the previous month.
US advanced retail sales advance more than expected in June
In the US, advance retail sales climbed 0.40% on a MoM basis in June, compared to a revised similar rise in the prior month. Markets were anticipating advance retail sales to climb 0.10%.
Powell: Fed prepared to cut rates if required
The US Federal Reserve (Fed) Chairman, Jerome Powell, indicated that the central bank is prepared to cut its key interest rates in order to sustain the record-long economic expansion in the US. Further, he stated that the policymakers are keenly observing the current trade developments and global growth that have caused “uncertainties” over the outlook to rise.
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