Some key global economic news for today, 25th June

US consumer confidence deteriorates in June

U.S. consumer confidence unexpectedly deteriorated in June as households worried about business conditions and employment prospects over the next six months. A decline in consumer confidence is a negative signal for the economy. It indicates that consumers may cut down consumption. This in turn may slow down GDP growth further.

 US current account surges to record high in the first quarter

The U.S. current account deficit widened to a record high in the first quarter as businesses frontloaded imports to avoid President Donald Trump’s hefty tariffs on imported goods. Businesses across United States are importing goods and piling up inventory before the proposed Trump tariffs come in their full force.

UK factories suffer bigger drop in orders during June

British manufacturers this month reported the sharpest contraction in orders since January and expectations for selling prices cooled, the Confederation of British Industry said on Tuesday. The decline in factory orders indicates to a slowing British economy. The central bank of UK kept interest rate unchanged in its most recent monetary policy meeting. But if economic slowdown deteriorates, it may have to cut down interest rates further.

Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. To get any error corrected, write to content@hdfcsec.com.

Source: HDFC Securities Prime Research