The UK economy grew during the month of July of 2022 by 0.2%, which came less than expectations that indicated a growth of 0.3%, to get the economy out of a contraction, it suffered in June when the economy recorded a contraction of 0.6%.<\/p>\n\n\n\n
The services sector recorded an increase of 0.4% in July 2022 after declining by 0.5% in June. It was the main driver of GDP growth, as the information and communications technology sector grew by 1.5%, and was the largest contributor to the growth of services in July.<\/p>\n\n\n\n
Industrial production recorded a decline of 0.3% after declining by 0.9% in June 2022, mainly due to a 3.4% decrease in the supply of electricity, gas, steam and air conditioning.<\/p>\n\n\n\n
The construction sector also decreased in July 2022 by 0.8%, after a 1.4% decrease in June 2022.<\/p>\n\n\n\n
Germany’s Ifo Institute announced on Monday that it revised its 2023 growth forecast to -0.3% from 3.5% in June. The institute further noted that the annual inflation expectation for 2023 was revised to 9.3% from June’s forecast of 6%.<\/p>\n\n\n\n
The euro rose against the dollar during trading on Monday, by more than 1%, supported by reports that Ukraine had regained control of some lands from Russia, in addition to expectations that the European Central would continue to raise interest rates.<\/p>\n\n\n\n
As reported by Bloomberg, Bundesbank President Joachim Nagel said that more obvious steps should be taken, such as raising interest rates last week, if the inflation picture remains the same.<\/p>\n\n\n\n
The euro rose against the dollar by 1.29% to $ 1.0172 at 10:01 am Cairo time, at its highest level in more than three weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"
The UK economy grew during the month of July of 2022 by 0.2%, which came less than expectations that indicated a growth of 0.3%, to get the economy out of a contraction, it suffered in June when the economy recorded a contraction of 0.6%. The services sector recorded an increase of 0.4% in July 2022 …<\/p>\n","protected":false},"author":9,"featured_media":52585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6928,6911,6864,6837],"class_list":["post-71986","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-euro","tag-europe","tag-european-stocks","tag-eurozone"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=71986"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71986\/revisions"}],"predecessor-version":[{"id":71988,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71986\/revisions\/71988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52585"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}