U.S. Economy

• Retail sales advanced in July on the back of strong auto sales CNBC
• After declining in each of the first five months of the year industrial production increased for a second consecutive month in July Bloomberg
• Productivity rose during the second quarter, but by less than half of the first quarter decline U.S. News & World Report

Around the World

• China devalued its currency this week by the most in over two decades The Guardian
• Russia’s economy shrank by 4.6% during the second quarter, following a 2.2% first quarter contraction CNBC
• After much debate Greece’s parliament has backed a new bailout for the country BBC