Top-of-mind economic news as we start the week:
— The US economy added 372,000 new jobs in June vs. 250,000 expected; with the unemployment rate at just 3.6%, the Fed is likely to continue raising interest rates to tame inflation.
— US factory orders rose 1.6% in May, much more than anticipated, as manufacturers saw strong demand.
— This Wednesday, the US Consumer Price Index for June is expected to show prices rising faster than 8.6%, the level in May.
— Russia temporarily halted gas flows to Germany via a major pipeline, putting Europe on high alert.
— India is banning single-use plastics after the country’s plastic waste output nearly doubled in the last five years.
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