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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price index dropped less than expected in June
In the UK, the house price index fell 0.10% on a MoM basis in June, compared to a drop of 0.20% in the previous month.
European Commission lowers economic growth forecast
The European Commission forecasted that the Euro-area economy will contract by 8.7% in 2020 and grow by 6.1% in 2021, amid strict lockdowns across the region due the coronavirus outbreak. Also, it lowered its forecast for the decline in Germany’s GDP to 6.3% from 6.5%. Further, the Commission indicated that the rebound in 2021 will likely be slower than it had previously expected, lowering its growth forecast for the year to 6.1% from 6.3%.
German industrial production rose less than expected in May
In Germany, the seasonally adjusted industrial production registered a rise of 7.80% on a MoM basis in May, compared to a revised drop of 17.50% in the previous month. Markets were expecting industrial production to record an advance of 10.00%.
US JOLTs job openings unexpectedly advanced in May
In the US, the JOLTs job openings unexpectedly climbed to a level of 5397.00 K in May, compared to a revised reading of 4996.00 K in the prior month. Market anticipations were for JOLTs job openings to drop to a level of 4850.00 K.
Japanese trade deficit (BOP basis) narrowed in May
In Japan, trade deficit (BOP basis) narrowed to ¥556.80 billion in May, compared to a trade deficit of ¥966.50 billion in the prior month.
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