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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index rose less than expected in the February-April 2016 period
On a YoY basis, in the February-April 2016 period, the Halifax house price index registered a rise of 9.20% in the UK, less than market expectations for a rise of 9.60%. In the January-March 2016 period, the Halifax house price index had recorded a rise of 10.10%.
UK Halifax house price index fell more than expected in April
In April, on a MoM basis, the Halifax house price index slid 0.80% in the UK, compared to a revised advance of 2.20% in the prior month. Market expectation was for the Halifax house price index to drop 0.30%.
UK retail sales across all sectors surprisingly fell in April
Retail sales across all sectors unexpectedly fell 0.90% on a YoY basis in April, in the UK, lower than market expectations for a rise of 0.50%. In the previous month, retail sales across all sectors had recorded a drop of 0.70%.
Euro-zone investor confidence index climbed in May
In May, the investor confidence index advanced to 6.20 in the Euro-zone, compared to market expectations of an advance to a level of 6.00. The investor confidence index had recorded a level of 5.70 in the previous month.
German factory orders advanced more than expected in March
The non-seasonally adjusted factory orders in Germany registered a rise of 1.70% on a YoY basis in March, compared to a revised rise of 0.70% in the prior month. Market expectation was for factory orders to advance 0.10%.
German factory orders rose more than expected in March
On a MoM basis, the seasonally adjusted factory orders registered a rise of 1.90% in March, in Germany, higher than market expectations for a rise of 0.60%. Factory orders had dropped by a revised 0.80% in the previous month.
Swiss EU HICP slid in April
On a YoY basis, the EU harmonised consumer price index (HICP) in Switzerland recorded a drop of 0.50% in April. In the prior month, the EU HICP had recorded a drop of 1.00%.
Swiss CPI dropped less than expected in April
The consumer price index (CPI) in Switzerland recorded a drop of 0.40% on an annual basis in April, compared to a fall of 0.90% in the prior month. Market anticipation was for the CPI to fall 0.70%.
Swiss EU HICP rose in April
The EU HICP recorded a rise of 0.20% in Switzerland on a monthly basis, in April. The EU HICP had recorded a rise of 0.40% in the prior month.
Swiss CPI advanced more than expected in April
In April, the CPI recorded a rise of 0.30% in Switzerland, on a MoM basis, more than market expectations for an advance of 0.10%. The CPI had registered a similar rise in the previous month.
Fed’s Evans upbeat on economy, calls the Fed’s wait and see stance appropriate
The President of the Chicago Federal Reserve (Fed), Charles Evans, called the Fed’s ‘wait and see’ approach to monetary policy as appropriate. He further indicated that the US economic fundamentals are strong, but he would prefer to see firmer evidence that inflationary pressures are sufficient to return the annual price-growth to the targeted 2.0%. Additionally, he emphasized that strength in the nation’s labour market is the key element in his view of the American economy and predicted that the nation is on course to grow by 2.5% in 2016.
Fed’s Kashkari says current US interest rate policy ‘about right’
The Minneapolis Fed President, Neel Kashkari, called the Fed’s current monetary policy stance appropriate. He further stated that the central bank should focus on economic data and the next rate hike will happen “when data allows.” He also indicated that the US economy is likely to grow at about a 2.0% pace this year.
Canadian housing starts registered a decline in April
In Canada, the seasonally adjusted housing starts eased to 191.50 K in April, compared to a revised reading of 202.40 K in the prior month. Market expectation was for housing starts to fall to a level of 193.00 K.
Japanese consumer confidence index declined in April
The consumer confidence index in Japan recorded a drop to 40.80 in April, compared to a level of 41.70 in the previous month. Markets were anticipating the consumer confidence index to ease to 40.70.
Chinese CPI rose as expected in April
On a YoY basis, the CPI in China climbed 2.30% in April, at par with market expectations. In the previous month, the CPI had registered a similar rise.
Chinese PPI declined less than expected in April
The producer price index in China (PPI) eased 3.40% in April on an annual basis, lower than market expectations for a fall of 3.80%. In the previous month, the PPI had registered a drop of 4.30%.
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