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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales advanced more than expected in May
On a YoY basis in May, retail sales rose 3.90% in the UK, more than market expectations for an advance of 2.40%. In the prior month, retail sales had recorded a rise of 1.40%.
ECB kept interest rates unchanged, decided to end its massive bond-buying programme by December
The European Central Bank (ECB), in its June monetary policy meeting, decided to keep its benchmark interest rate at a record low and signaled that it would not raise interest rates until at least mid-2019. The bank also announced that it will phase out at year-end its stimulus programme. Meanwhile, the central bank raised its inflation outlook for 2018 and 2019. However, it trimmed its economic growth forecast for the current year.
German CPI rose as expected in May
The final consumer price index (CPI) climbed 0.50% in Germany on a MoM basis in May, compared to a flat reading in the previous month. Markets were anticipating the CPI to rise 0.50%. The preliminary figures had also recorded an advance of 0.50%.
US business inventories rose as expected in April
On a MoM basis, business inventories rose 0.30% in the US, in April, at par with market expectations. Business inventories had fallen by a revised 0.10% in the previous month.
Japanese industrial production rose in April
In Japan, the final industrial production registered a rise of 0.50% on a monthly basis, in April. Industrial production had advanced 1.40% in the previous month. The preliminary figures had indicated a rise of 0.30%.
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