🔷U.S. Consumer Prices Annual Growth Unexpectedly Slows
The annual rate of consumer price growth slowed slightly to 2.9% in July from 3.0% in June and core inflation eased to 3.2% from 3.3%.
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🔷U.S. Retail Sales Jump Much More Than Expected
U.S. retail sales jumped by 1.0% in July after falling by a revised 0.2% in June, led by a rebound in auto sales.
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🔷UK Q2 GDP Grows 0.6% As Expected
The U.K. economy grew 0.6% in the June quarter, following the 0.7% gain in Q1, largely driven by the improvement in the services sector.
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🔷China Economic Data Damps Hopes Of Speedy Recovery
China's industrial production and investment logged slower increases in July, while retail sales grew modestly on the back of state support measures.
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🔷New Zealand Cuts Key Rate For First Time In 4 Years
The Reserve Bank of New Zealand lowered its key interest rate for the first time in four years, by 25 bps to 5.25%, as policymakers assessed a steep slowdown in domestic activity.
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