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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE announced £250 billion of support for UK economy following Brexit
The Bank of England (BoE) Governor, Mark Carney, tried to restore calm and soothe financial markets by reassuring investors and UK citizens that the central bank is “well prepared” to prop up Britain’s financial system in order to protect it from the direct impacts of Brexit. He stated that the BoE is ready to provide £250 billion of additional funds to support financial markets. He also said the central bank will consider whether to take additional policy responses in the coming weeks.
UK BBA mortgage approvals advanced surprisingly in May
In May, BBA mortgage approvals in the UK registered an unexpected rise to a level of 42.19 K, compared to market expectations of a fall to a level of 37.85 K. In the previous month, BBA mortgage approvals had registered a revised level of 39.97 K.
German Ifo current assessment index climbed unexpectedly in June
The Ifo current assessment index recorded an unexpected rise to 114.50 in June, in Germany, higher than market expectations of a fall to a level of 114.00. The Ifo current assessment index had recorded a level of 114.20 in the prior month.
German Ifo business climate index surprisingly climbed in June
In June, the Ifo business climate index in Germany registered an unexpected rise to 108.70, compared to a revised level of 107.80 in the prior month. Markets were expecting the Ifo business climate index to fall to 107.40.
German Ifo business expectations index unexpectedly climbed in June
In Germany, the Ifo business expectations index climbed unexpectedly to 103.10 in June, compared to market expectations of a fall to a level of 101.20. In the prior month, the Ifo business expectations index had registered a revised reading of 101.70.
French GDP rose as expected in 1Q 2016
On a QoQ basis, the final gross domestic product (GDP) in France advanced 0.60% in 1Q 2016, compared to a rise of 0.30% in the previous quarter. The preliminary figures had also recorded a rise of 0.60%. Market expectation was for GDP to rise 0.60%.
French GDP rose less than expected in 1Q 2016
The final gross GDP in France registered a rise of 1.30% on a YoY basis in 1Q 2016, less than market expectations for an advance of 1.40%. In the previous quarter, GDP had advanced 1.40%. The preliminary figures had recorded a rise of 1.40%.
Italian retail sales rose less than expected in April
On a monthly basis, the seasonally adjusted retail sales in Italy rose 0.10% in April, less than market expectations for an advance of 0.40%. In the prior month, retail sales had registered a drop of 0.60%.
Italian retail sales slid in April
The non-seasonally adjusted retail sales in Italy eased 0.50% on a YoY basis, in April. In the previous month, retail sales had registered a revised rise of 2.10%.
Italian wage inflation steadied in May
In May, the wage inflation remained steady at a level of 0.00% in Italy.
Italian annual wage inflation remained steady in May
The annual wage inflation remained flat at a level of 0.60% in May, in Italy.
Spanish PPI slid in May
On a YoY basis, the producer price index (PPI) slid 5.50% in May, in Spain. In the previous month, the PPI had registered a revised drop of 5.90%.
Spanish PPI rose in May
In May, on a monthly basis, the PPI in Spain rose 0.80%. The PPI had recorded a drop of 0.10% in the prior month.
US non-defense capital goods orders (ex aircraft) surprisingly eased in May
In May, on a monthly basis, the flash non-defense capital goods orders (ex aircraft) in the US recorded an unexpected drop of 0.70%, compared to a fall of 0.60% in the prior month. Markets were expecting the non-defense capital goods orders (ex aircraft) to rise 0.40%.
US Reuters/Michigan consumer sentiment index recorded a drop in June
The final Reuters/Michigan consumer sentiment index in the US recorded a drop to 93.50 in June, compared to market expectations of a drop to 94.10. In the prior month, the Reuters/Michigan consumer sentiment index had registered a reading of 94.70. The preliminary figures had recorded a fall to 94.30.
US durable goods orders (ex transportation) unexpectedly dropped in May
On a monthly basis, the flash durable goods orders (ex transportation) in the US recorded an unexpected drop of 0.30% in May, less than market expectations for an advance of 0.10%. In the previous month, durable goods orders (ex transportation) had advanced 0.50%.
US durable goods orders fell more than expected in May
In May, the flash durable goods orders slid 2.20% in the US on a MoM basis, higher than market expectations for a fall of 0.50%. In the previous month, durable goods orders had registered a rise of 3.40%.
US non-defense capital goods shipments (ex aircraft) unexpectedly fell in May
US Census Bureau has reported that, on a monthly basis in May, the preliminary non-defense capital goods shipments (ex aircraft) unexpectedly eased 0.50% in the US, lower than market expectations for an advance of 0.30%. In the previous month, the non-defense capital goods shipments (ex aircraft) had recorded a rise of 0.40%.
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