Economy update
Germany’s industries are struggling. Output in June fell to its lowest since 2020 as demand from abroad for the country’s goods wanes. Japan was forced to revise down its economic growth forecast amidst US tariffs and sticky inflation. Tech shares keep providing invaluable stock market support. Bank of England will have probably cut rates by the time this report lands in your inbox. US initial jobless claims are to increase by 221,000. European shares are broadly stronger.
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