Guardian Stockbrokers Key Economic News Tuesday 3 September 2019

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

UK retail sales across all sectors slid in August

In the UK, retail sales across all sectors slid 0.50% on a YoY basis in August. In the prior month, retail sales across all sectors had climbed 0.10%.

UK manufacturing PMI unexpectedly slid in August

In the UK, the manufacturing PMI dropped unexpectedly to a level of 47.40 in August, compared to a reading of 48.00 in the prior month. Markets were expecting the manufacturing PMI to advance to a level of 48.80.

Euro-zone manufacturing PMI climbed in August

In the Euro-zone, the final manufacturing PMI recorded a rise to a level of 47.00 in August, compared to a level of 46.50 in the prior month. Market anticipation was for the manufacturing PMI to climb to a level of 47.00.

German manufacturing PMI advanced in August

In Germany, the final manufacturing PMI rose to a level of 43.50 in August, compared to market expectations of a rise to 43.60. In the prior month, manufacturing PMI had recorded a level of 43.20.

RBA keeps its official cash rate unchanged

The Reserve Bank of Australia (RBA), at its September monetary policy meeting, kept its official cash rate unchanged at 1.00%, as widely expected. Further, the central bank hinted that softer economic conditions and heightened global economic uncertainty could bring forward further rate cuts.

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