Annual UK house price growth increased slightly in July to 11.0%, from 10.7% in June, according to the Nationwide House Price Index. The demand-driven global manufacturing slowdown was exacerbated by tightening of activity restrictions in China, the U.K. bank says. In July, global manufacturing output contracted sharply as the China-led June rebound reverted in just one month, the bank says. Still, while the company's shares look cheap, the valuation is similar to those of key European peers, the bank says. (philip.waller@wsj.com)Contact: London NewsPlus, Dow Jones Newswires;(END) Dow Jones NewswiresAugust 02, 2022 08:46 ET (12:46 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal August 02, 2022 13:05 UTC