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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI fell in April
The services PMI in the UK fell to a level of 52.30 in April, compared to market expectations of a drop to 53.50. In the prior month, the services PMI had registered a level of 53.70.
UK official reserves registered a rise in April
In April, official reserves climbed $728.00 million in the UK. In the previous month, official reserves had registered a rise of $756.00 million.
Fed’s Bullard undecided on the right path for interest rates
The St. Louis Fed President, James Bullard, a voting member of the Federal Open Market Committee, stated that global headwinds that have partly prevented the US central bank from raising rates again may have dissipated and that Britain’s upcoming referendum on the European Union should not affect the US economy. He also stated that he has not decided whether he will support a June interest rate increase.
Fed’s Kaplan calls for firmer GDP before advocating rate hike
The Dallas Fed President, Robert Kaplan, indicated his support for an interest rate hike in June is contingent on the fact that the US posts a stronger second-quarter data in terms of consumer spending.
Fed’s Lockhart ‘on the fence’ over June hike
The Atlanta Fed President, Dennis Lockhart, indicated that he is undecided about whether to support a June interest rate hike and would like to see continued solid employment reports and a growth picture that is more consistent with the strong labour market.
US initial jobless claims climbed in the last week
The seasonally adjusted initial jobless claims rose to a level of 274.00 K in the week ended 30 April 2016, in the US, higher than market expectations of an advance to a level of 260.00 K. In the prior week, initial jobless claims had registered a level of 257.00 K.
US continuing jobless claims recorded a drop in the last week
In the week ended 23 April 2016, the seasonally adjusted continuing jobless claims fell to a level of 2121.00 K in the US, compared to a revised reading of 2129.00 K in the prior week. Markets were anticipating continuing jobless claims to drop to 2128.00 K.
US number of planned layoffs by US companies climbed in April
In April, on an annual basis, the number of planned layoffs by US companies registered a rise of 5.80% in the US. In the previous month, the number of planned layoffs by US companies had advanced 31.70%.
Canadian building permits declined more than expected in March
On a MoM basis, building permits in Canada recorded a drop of 7.00% in March, higher than market expectations for a fall of 4.80%. Building permits had climbed by a revised 15.30% in the previous month.
Japanese Markit composite PMI declined in April
In April, Markit composite PMI dropped to 48.90 in Japan, compared to a level of 49.90 in the previous month.
Japanese monetary base rose in April
On a YoY basis, the monetary base advanced 26.80% in April, in Japan. In the previous month, the monetary base had risen 28.50%.
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