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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales dropped less than expected in May
In the UK, retail sales fell 0.50% on a MoM basis in May, compared to a revised rise of 0.40% in the previous month. Markets were expecting retail sales to fall 0.70%.
Germany business climate index fell more than anticipated in June
In Germany, the Ifo business climate index fell to 92.30 in June, compared to a level of 93.00 in the prior month. Markets were anticipating the index to fall to 92.90.
Germany business expectations unexpectedly declined in June
In Germany, the Ifo business expectations unexpectedly fell to 85.80 in June, compared to a level of 86.90 in the prior month. Markets were anticipating the expectations index to rise to 87.40.
US consumer sentiment index declined more than anticipated in June
In the US, the Michigan consumer sentiment index fell to 50.00 in June, compared to a reading of 58.40 in the prior month. Market anticipations were for the index to drop to 50.20.
US new home sales advanced in May
In the US, new home sales climbed 10.70% on a MoM basis in May, compared to a revised drop of 12.00% in the previous month.
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