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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK BBA mortgage approvals rose in June
In the UK, BBA mortgage approvals advanced to a level of 42.65 K in June, lower than market expectations of an advance to a level of 42.70 K. BBA mortgage approvals had recorded a revised reading of 42.41 K in the previous month.
Euro-zone manufacturing PMI surprisingly dropped in July
In the Euro-zone, the flash manufacturing PMI recorded an unexpected drop to a level of 46.40 in July, compared to market expectations of an advance to a reading of 47.70. The manufacturing PMI had recorded a level of 47.60 in the previous month.
Euro-zone services PMI dropped in July
In the Euro-zone, the flash services PMI eased to a level of 53.30 in July, compared to a level of 53.60 in the previous month. Markets were anticipating services PMI to drop to a level of 53.30.
US manufacturing PMI surprisingly declined in July
In the US, the flash manufacturing PMI eased unexpectedly to a level of 50.00 in July, lower than market expectations of a rise to a reading of 51.00. In the prior month, the manufacturing PMI had registered a reading of 50.60.
US services PMI rose in July
In the US, the preliminary services PMI rose to a level of 52.20 in July, compared to market expectations of an advance to a level of 51.80. In the prior month, services PMI had recorded a level of 51.50.
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