The coup attempt in Turkey on Friday, on the back of another terror attack in France late Thursday, resulted in an increase in uncertainty late last week. However, with the situation stabilised, market sentiment recovered on Monday with Asian and European markets on a relatively steady footing.
Domestic data released last week was very upbeat. In the production sector of the economy, both mining and manufacturing production registered positive growth rates in May. Similarly, in the services sector, wholesale and retail sales were higher. The domestic section unpacks the implications for 2016Q2 GDP growth.
Internationally, the Monetary Policy Committee (MPC) of the Bank of England (BoE) decided by a strong vote to keep its policy interest rate unchanged. Meanwhile, quarterly economic growth accelerated in China during the second quarter....Get it here