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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone GDP declined less than expected in 2Q 2020
In the Euro-zone, the seasonally adjusted final GDP slid 11.80% on a QoQ basis in 2Q 2020, compared to a revised fall of 3.70% in previous quarter. Markets were expecting GDP to fall 12.10%.
German trade surplus widened in July
In Germany, the seasonally adjusted trade surplus expanded more than anticipated to €18.00 billion in July, following a trade surplus of €14.5 billion in the previous month. Markets were anticipating the nation’s a trade surplus to widen to €16.00 billion.
German current account surplus narrowed in July
In Germany, the non-seasonally adjusted current account surplus narrowed more than expected to €20.00 billion in July, following a revised current account surplus of €20.40 billion in the previous month. Market expectations were for the nation’s a current account surplus to narrow to €20.30 billion.
US small business optimism index unexpectedly rose in August
In the US, the small business optimism index registered an unexpected rise to a level of 100.20 in August, compared to a level of 98.80 in the previous month. Markets were expecting the small business optimism index to record a drop to a level of 98.00.
US consumer credit rose in July
In the US, consumer credit climbed by $12.25 billion in July, compared to a reading of $8.95 billion in the previous month. Markets were expecting consumer credit to increase by $13.75 billion.
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