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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK new car registrations advanced in February
In the UK, new car registrations advanced 8.40% on an annual basis, in February. New car registrations had advanced 2.90% in the previous month.
Italian GDP rose as expected in 4Q 2015
On a quarterly basis, the final gross domestic product (GDP) rose 0.10% in 4Q 2015, in Italy, compared to an advance of 0.20% in the prior quarter. The preliminary figures had also indicated an advance of 0.10%. Markets were expecting the GDP to advance 0.10%.
US underemployment rate registered a drop in February
The underemployment rate in the US eased to 9.70% in February, compared to a level of 9.90% in the prior month.
Manufacturing payrolls in the US dropped in February
In the US, manufacturing payrolls eased by 16.00 K in February, compared to a revised gain of 23.00 K in the previous month. Market anticipation was for manufacturing payrolls to decline 1.00 K.
Household employment in the US recorded an increase in February
Household employment in the US advanced by 530.00 K in February, compared to an increase of 615.00 K in the prior month. Market anticipation was for household employment to rise 175.00 K.
US average weekly hours of all employees declined surprisingly in February
In February, average weekly hours of all employees in the US dropped unexpectedly to 34.40, compared to market expectations of a steady reading. In the prior month, average weekly hours of all employees had recorded a level of 34.60.
Private payrolls in the US rose in February
In the US, private payrolls recorded an increase of 230.00 K in February, compared to market expectations of an advance of 190.00 K. Private payrolls had registered a revised gain of 182.00 K in the prior month.
Non-farm payrolls in the US rose in February
In the US, non-farm payrolls registered a rise of 242.00 K in February, more than market anticipations of an advance of 195.00 K. Non-farm payrolls had recorded a revised increase of 172.00 K in the previous month.
US unemployment rate steadied in February
In the US, unemployment rate remained unchanged at a level of 4.90% in February. Markets were anticipating unemployment rate to record a flat reading.
US trade deficit widened in January
The US has posted trade deficit of $45.68 billion in January, from a revised trade deficit of $44.70 billion in the prior month. Market anticipation was for a trade deficit of $44.00 billion.
US average hourly earnings of all employees advanced less than expected in February
In February, average hourly earnings of all employees advanced 2.20% on an annual basis in the US, compared to a rise of 2.50% in the previous month. Market anticipation was for average hourly earnings of all employees to climb 2.50%.
US average hourly earnings of all employees unexpectedly slid in February
On a monthly basis, average hourly earnings of all employees in the US recorded an unexpected drop of 0.10% in February, lower than market expectations for an advance of 0.20%. Average hourly earnings of all employees had advanced 0.50% in the prior month.
Canadian Ivey PMI eased in February
In February, the seasonally adjusted Ivey PMI fell to a level of 53.40 in Canada, lower than market expectations of a drop to a level of 58.00. Ivey PMI had recorded a reading of 66.00 in the previous month.
Canadian Ivey PMI climbed in February
The non-seasonally adjusted Ivey PMI in Canada rose to a level of 56.80 in February. In the prior month, Ivey PMI had registered a level of 56.70.
Canadian international merchandise trade deficit expanded in January
The international merchandise trade deficit in Canada rose to C$0.66 billion in January, compared to market expectations of an international merchandise trade deficit of C$0.90 billion. Canada had registered a revised international merchandise trade deficit of C$0.63 billion in the prior month.
Canadian labour productivity surprisingly climbed in 4Q 2015
On a QoQ basis, labour productivity registered an unexpected rise of 0.10% in 4Q 2015, in Canada, higher than market expectations for a steady reading. Labour productivity had risen by a revised 0.40% in the previous quarter.
Japanese foreign exchange reserves rose in February
In February, foreign exchange reserves in Japan advanced to $1254.10 billion, compared to a level of $1248.10 billion in the prior month.
BoJ Governor says that Japan’s fundamentals remain strong
The Bank of Japan (BoJ) Governor, Haruhiko Kuroda, stated that Japan’s economic fundamentals remain robust and countered criticism that the central bank’s recently introduced negative interest rate policy has failed to boost the nation’s stock prices. He further indicated that the BoJ will continuously scrutinize the impact of negative rates on money markets. Separately, on Friday, while speaking to lawmakers in Tokyo, the BoJ Governor ruled out the possibility of further interest rate cuts into negative territory at this point. He also reiterated that the central bank is closely monitoring global risks, and won’t hesitate to take necessary actions to achieve the central bank’s 2.0% inflation target.
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