Charting the global economy: UK services inflation tops forecast

Quick Summary:

UK services inflation at 5.7%, potential BoE rate cut; ECB at 3.75%.China's Q2 GDP rose 4.7%.

The Biden administration, facing pushback to its chip crackdown on China, has told allies that it’s considering using the most severe trade restrictions available if companies such as Tokyo Electron Ltd.and ASML Holding NV continue giving the country access to advanced semiconductor technology.

The data buck a trend in recent months showing a gradual slowdown in consumption growth as Americans feel the pinch of high interest rates and a cooling labor market.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: IndiaChinaEgyptIndonesiaNigerNigeriaSingaporeSouth AfricaUruguay

Topics: Interest rates Inflation Bank of England Economy UK Usretail Services ECB

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-21 @ 10:35:06 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 1368 words

Reading Time: 8 minutes read

Sentences: 39 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 21705035

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

Update Frequency: 1 posts per day

Year Established: 1961

Headquarters: India

News Last Updated: 1 days ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #84

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