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CEIC Leading Indicator for the US lowest in two years
July marked another month of declining vehicle sales in the US, as they dropped by 11.3% y/y
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India’s policy rate rises by 50bps as greater upside risks to inflation emerge
The monetary policy committee took note of the deteriorating global economy and a steady recovery in domestic demand
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India’s manufacturing PMI rises sharply to 56.4 in July 2022
The turnaround was driven by an improvement in domestic demand
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Manufacturing activity in China eases in July
Manufacturing PMI declined again in July, falling to 49
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US consumer confidence deteriorates further in July, expectations lowest since March 2013
The consumer confidence index declined for the third consecutive month in July 2022, dropping to 95.7
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Manufacturing activity in the Euro Area contracts in July
It decreased to 49.6 from 52.1 in the previous month
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China real GDP only grew by 0.4% y/y in Q2
It’s the worst economic performance ever since China recovered from the first wave of COVID in 2020
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Germany's financial markets' sentiment deteriorates to 14-year low
The deterioration could be attributed to the fears of an upcoming recession in Europe
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US inflation keeps rising in June, core CPI worse than expected
The consumer price index increased by 9.1% y/y up 0.5pp from the 8.6% rise registered in the previous month
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Headline inflation in India remains virtually unchanged at 7.0% in June 2022
This marks the sixth consecutive month the CPI has remained outside of the upper target band of the monetary policy committee