The Monday Mix: July 18 – 24, 2022

Top-of-mind economic headlines as we start the week:

The European Central Bank raised interest rates for first time in 11 years to curb inflation, even as the regional economy continues to slow.

The Atlanta Fed’s GDPNow tracker estimates U.S. Q2 GDP shrank -1.6%; if GDP did fall, U.S. is technically in a recession.

Weekly claims for U.S. unemployment benefits hit an 8-month high, even as hiring overall remains robust.

U.S. business activity for services showed a significant contraction in July, falling to 47.0 on a key index, the lowest level in 26 months.

The UK announced the launch of its “Jet Zero” strategy, where it plans to achieve net zero airline emissions by 2050.

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