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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK net consumer credit rose more than expected in January
In January, net consumer credit registered a rise of £1.60 billion in the UK, compared to a revised rise of £1.10 billion in the prior month. Market anticipation was for net consumer credit to advance £1.40 billion.
UK M4 money supply remained steady in January
On a monthly basis, M4 money supply remained flat in the UK, in January. M4 money supply had registered a drop of 0.20% in the prior month.
UK M4 Ex-IOFCs 3M annualised advanced in January
In January, on a MoM basis, M4 Ex-IOFCs 3M annualised rose 4.30% in the UK. In the prior month, M4 Ex-IOFCs 3M annualised had risen by a revised 4.20%.
UK M4 money supply advanced in January
The Bank of England (BoE) has reported that M4 money supply in the UK rose 0.80% on an annual basis, in January. In the prior month, M4 money supply had risen 0.20%.
UK net lending secured on dwellings rose as expected in January
The BoE has indicated that net lending secured on dwellings in the UK climbed £3.70 billion in January, in line with market expectations. In the previous month, net lending secured on dwellings had recorded a rise of £3.20 billion.
UK number of mortgage approvals for house purchases climbed in January
In the UK, number of mortgage approvals for house purchases advanced to 74.60 K in January, compared to market expectations of a rise to a level of 74.00 K. Number of mortgage approvals for house purchases had registered a revised reading of 71.30 K in the prior month.
UK consumer credit climbed in January
Seasonally adjusted consumer credit climbed £21.15 billion in January, in the UK. Consumer credit had recorded a revised rise of £20.65 billion in the prior month.
German import price index dropped more than expected in January
In Germany, the import price index eased 1.50% in January on a monthly basis, compared to a fall of 1.20% in the previous month. Market anticipation was for the import price index to fall 1.00%.
German retail sales climbed in January
In January, on a monthly basis, retail sales registered a rise of 0.70% in Germany. Retail sales had registered a revised rise of 0.60% in the prior month.
German import price index fell more than expected in January
In January, on a YoY basis, the import price index in Germany recorded a drop of 3.80%, compared to a fall of 3.10% in the previous month. Market expectation was for the import price index to fall 3.40%.
German retail sales surprisingly dropped in January
On a YoY basis, retail sales in Germany unexpectedly fell 0.80% in January, compared to a revised advance of 2.50% in the previous month. Market expectation was for retail sales to advance 1.80%.
Italian consumer price index fell as expected in February
In Italy, the preliminary consumer price index dropped 0.20% in February on a monthly basis, compared to a similar fall in the previous month. Market expectation was for the consumer price index to ease 0.20%.
Italian EU normalised consumer price index declined more than expected in February
In February, on a monthly basis, the preliminary EU normalised consumer price index in Italy slid 0.40%, compared to a drop of 2.20% in the prior month. Market anticipation was for the EU normalised consumer price index to drop 0.10%.
Spanish current account surplus expanded in December
Spain has registered current account surplus of €4.50 billion in December, from a current account surplus of €2.10 billion in the prior month.
Swiss KOF economic barometer climbed unexpectedly in February
In February, the KOF economic barometer in Switzerland rose unexpectedly to 102.40, compared to a revised reading of 100.40 in the previous month. Markets were anticipating the KOF economic barometer to fall to 100.30.
US pending home sales unexpectedly fell in January
In January, on a MoM basis, pending home sales in the US unexpectedly fell 2.50%, lower than market expectations for an advance of 0.50%. In the prior month, pending home sales had risen by a revised 0.90%.
US pending home sales registered an unexpected drop in January
Pending home sales in the US unexpectedly fell 0.90% in January on an annual basis, less than market expectations for a rise of 3.80%. Pending home sales had risen 3.10% in the previous month.
US NAPM-Milwaukee manufacturing index advanced surprisingly in February
In February, the NAPM-Milwaukee manufacturing index in the US climbed unexpectedly to a level of 55.22, compared to a reading of 50.36 in the previous month. Market anticipation was for the NAPM-Milwaukee manufacturing index to ease to 50.00.
US Chicago Fed PMI recorded a drop in February
Compared to a level of 55.60 in the previous month the Chicago Fed Purchasing Managers’ Index (PMI) recorded a drop to 47.60 in the US, in February. Market anticipation was for the Chicago Fed purchasing managers index to fall to a level of 52.50.
US Dallas Fed manufacturing business index climbed in February
The Dallas Fed manufacturing business index climbed to -31.80 in the US, in February, compared to a reading of -34.60 in the previous month. Market expectation was for the Dallas Fed manufacturing business index to climb to a level of -30.00.
Canadian raw material price index dropped less than expected in January
In January, the raw material price index slid 0.40% in Canada on a monthly basis, compared to a revised fall of 5.20% in the prior month. Market expectation was for the raw material price index to fall 3.30%.
Canadian current account deficit expanded in 4Q 2016
Canada has posted current account deficit of C$15.38 billion in 4Q 2016, from a revised current account deficit of CAD 15.31 billion in the prior quarter. Markets were expecting a current account deficit of C$17.00 billion.
Canadian industrial product price index surprisingly climbed in January
The industrial product price index unexpectedly advanced 0.50% on a monthly basis in January, in Canada, compared to a revised drop of 0.30% in the previous month. Market anticipation was for the industrial product price index to remain flat.
Japanese capital spending excluding software advanced more than expected in 4Q 2016
Capital spending excluding software in Japan rose 8.90% in 4Q 2016 on an annual basis, compared to a rise of 11.20% in the prior quarter. Markets were anticipating capital spending excluding software to advance 8.70%.
Japanese annualised housing starts advanced in January
In Japan, the annualised housing starts recorded a rise to 0.87 million units in January, in line with market expectations. The annualized housing starts had recorded a level of 0.86 million units in the previous month.
Japanese manufacturing PMI slid in February
In February, the final manufacturing PMI in Japan fell to a level of 50.10, compared to a reading of 52.30 in the previous month. The preliminary figures had indicated a drop to 50.20.
Japanese housing starts registered an unexpected rise in January
On a YoY basis, housing starts recorded an unexpected rise of 0.20% in January, in Japan, higher than market expectations for a fall of 0.30%. Housing starts had registered a drop of 1.30% in the prior month.
Japanese construction orders eased in January
In Japan, construction orders eased 13.80% in January on a YoY basis. Construction orders had recorded a rise of 14.80% in the previous month.
Japanese unemployment rate registered a surprise drop in January
Compared to a level of 3.30% in the previous month unemployment rate in Japan fell unexpectedly to 3.20% in January. Markets were expecting unemployment rate to remain unchanged.
Japanese household spending declined more than expected in January
In January, household spending fell 3.10% on a YoY basis in Japan, more than market expectations for a fall of 2.70%. In the prior month, household spending had fallen 4.40%.
Japanese capital spending advanced less than expected in 4Q 2016
In 4Q 2016, capital spending recorded a rise of 8.50% in Japan, on a YoY basis, lower than market expectations for an advance of 8.70%. Capital spending had recorded a rise of 11.20% in the prior quarter.
Japanese job to applicant ratio surprisingly rose in January
Job to applicant ratio in Japan climbed unexpectedly to 1.28 in January, higher than market expectations of a steady reading. In the previous month, job to applicant ratio had registered a reading of 1.27.
Chinese NBS manufacturing PMI registered an unexpected drop in February
In February, the NBS manufacturing PMI dropped unexpectedly to 49.00 in China, compared to a reading of 49.40 in the previous month. Market anticipation was for the NBS manufacturing PMI to record a steady reading.
Chinese NBS non-manufacturing PMI recorded a drop in February
The NBS non-manufacturing PMI in China eased to 52.70 in February, compared to a level of 53.50 in the prior month.
Chinese Caixin/Markit manufacturing PMI index declined surprisingly in February
Caixin/Markit manufacturing PMI index in China fell unexpectedly to 48.00 in February, lower than market expectations of a steady reading. Caixin/Markit manufacturing PMI index had recorded a level of 48.40 in the prior month.
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