Economic News
US services sector activity slows more than expected in July, IHS Markit says
US business activity cooled in July due to the drag from the services sector, the results of two closely-followed surveys revealed.
Euro zone July business activity soars but Delta worries hit confidence
Euro zone business activity in July expanded at its fastest monthly pace in more than 20 years as services were boosted by an easing of Covid curbs, although fears of another wave of infections hit confidence, according to a survey released Friday.
UK business activity growth slows in July
Business activity growth in the UK slowed in July, with private sector growth hitting a four-month low as shortages of staff and materials held back the recovery, according to a flash survey released on Friday.
Consumer confidence returns to pre-pandemic levels - GfK
UK consumer confidence edged above pre-pandemic levels in July for the first time, research showed on Friday.
Barclays on outlook for Treasury yields
Economists at Barclays Research think longer-term US Treasury note yields will head back higher in the back half of 2021, although they also thought that financial markets were right in judging inflationary risks to be 'transitory'.
US jobless claims jump as automakers retool
First time unemployment claims in the US bounced back unexpectedly during the previous week, pushed higher by the annual retooling of automakers.
BoE's Broadbent says higher inflation looks temporary
Rising inflation is likely to be temporary, a Bank of England rate setter said in remarks that reined in expectations of imminent policy tightening.
ECB tweaks guidance, rates may now stay lower for longer
Policymakers at the European Central Bank will keep its interest rates at their current low level until it sees inflation returning to its new target level "well ahead" of its projection horizon and in a "durable manner".
UK factory output growth equals record but shortages loom - CBI
UK factory output rose at a joint-record pace in the past three months but worries about shortages of materials and labour were at their highest since the 1970s, a CBI survey showed.
M&S boss warns of empty shelves in NIreland due to Brexit deal
UK retailer Marks & Spencer warned that it would not supply some Christmas good to Northern Ireland due to increased customs checks as part of the Brexit deal signed by Prime Minister Boris Johnson.
UK public sector borrowing falls in June
UK public sector net borrowing fell in June as the economy opened up again, according to figures released on Wednesday by the Office for National Statistics.
China Evergrande Group tumbles as Beijing tightens oversight of sector
Shares of China's second-largest property developer by sales tumbled again on Tuesday after reports of an asset freeze.
US housing starts surprise to the upside in June, but permits drop
US homebuilding activity bounced back last month but forward-looking indicators pointed to weakness ahead.
Ministers face dilemma on funding reform of UK social care system
Ministers risk being accused of making an “intergenerational raid” on taxpayers to fund the soaring cost of social care in the UK, according to financial analysts.
Jefferies believes Delta may be less lethal than other variants
Analysts at Jefferies believe the so-called Delta variant may be less lethal, even if more transmissible, than earlier variants of the virus - although not everyone is onboard with that notion.
UK grocery sales fall as lockdown restrictions ease
UK grocery sales have fallen, industry research showed on Tuesday, as lockdown restrictions continued to ease and football fans went out to watch Euro 2020.
London dominates foreign inward investment - ONS
Almost half of foreign direct investment into Britain went to London in 2019 before the Covid pandemic struck, according to official data.
Shopper numbers set to surge as Covid restrictions ease
Footfall across all retail destinations is expected to spike by nearly 20% following Monday’s lifting of Covid restrictions, according to research published by Springboard.
BoE's Haskel warns against preemptive tightening of monetary policy
One of the Bank of England's top officials argued against reducing monetary stimulus for the economy.
Crude oil futures under pressure after OPEC+ deal at the weekend
Crude oil futures slid at the start of the week after the Organisation of Petroleum Exporting Countries ad its main allies clinched a deal at the weekend to increase their combined output.
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