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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP dropped less than expected in 2Q 2022
In the UK, the GDP fell 0.10% on a QoQ basis in 2Q 2022, compared to a rise of 0.80% in the prior quarter. Markets were expecting the GDP to fall 0.20%.
UK industrial production declined less than anticipated in June
In the UK, industrial production fell 0.90% on a MoM basis in June, compared to a revised rise of 1.30% in the previous month. Markets were anticipating industrial production to record a fall of 1.30%.
UK manufacturing production fell less than expected in June
In the UK, manufacturing production fell 1.60% on a MoM basis in June, compared to a revised rise of 1.70% in the prior month. Market expectations were for manufacturing production to drop 1.80%.
Euro-zone industrial production advanced more than anticipated in June
In the Euro-zone, industrial production rose 0.70% on a MoM basis in June, compared to a revised rise of 2.10% in the previous month. Markets anticipations were for industrial production to record a rise of 0.20%.
US Michigan consumer sentiment index climbed more than expected in August
In the US, the Michigan consumer sentiment index advanced to 55.10 in August, compared to a reading of 51.50 in the prior month. Markets were expecting the index to rise to 52.50.
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