The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK mortgage approvals dropped more than expected in June
In the UK, mortgage approvals fell to 81.33 K in June, compared to a revised reading of 86.94 K in the previous month. Markets were expecting mortgage approvals to fall to 86.10 K.
Euro-zone consumer confidence index fell in July
In the Euro-zone, the consumer confidence index dropped to a level of -4.40 in July, in line with market expectations and compared to a revised reading of -3.30 in the prior month.
German CPI climbed more than expected in July
In Germany, the consumer price index (CPI) rose 3.80% on a YoY basis in July, compared to an advance of 2.30% in the previous month. Markets were expecting the CPI to record an advance of 3.30%.
US annualised GDP advanced less than expected in 2Q 2021
In the US, annualised GDP climbed 6.50% on a QoQ basis in 2Q 2021, compared to a revised rise of 6.30% in the prior quarter. Markets were expecting GDP to record a rise of 8.50%.
US initial jobless claims dropped less than anticipated in the week ended 23 July 2021
In the US, the seasonally adjusted initial jobless claims fell to a reading of 400.00 K in the week ended 23 July 2021, compared to a revised level of 424.00 K in the previous week. Markets were expecting initial jobless claims to drop to a level of 380.00 K.
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