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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction output rose more than expected in January
Construction output rose 2.00% on a YoY basis in January, in the UK, more than market expectations for a rise of 0.30%. In the prior month, construction output had advanced by a revised 2.60%.
UK recorded visible trade surplus in January
Visible trade surplus in the UK recorded a level of £10.83 billion in January, compared to market expectations of a visible trade deficit of £11.10 billion. The UK had registered a revised visible trade deficit of £10.90 billion in the prior month.
UK industrial production advanced as expected in January
In the UK, industrial production advanced 3.20% in January on a YoY basis, compared to an advance of 4.30% in the prior month. Markets were anticipating industrial production to rise 3.20%.
UK NIESR estimated GDP rose as expected in the December-February 2017 period
On a MoM basis, NIESR estimated gross domestic product (GDP) in the UK climbed 0.60% in the December-February 2017 period, compared to a revised advance of 0.80% in the November-January 2017 period. Markets were anticipating NIESR estimated GDP to rise 0.60%.
UK manufacturing production declined more than expected in January
On a monthly basis, manufacturing production in the UK eased 0.90% in January, compared to a revised advance of 2.20% in the previous month. Markets were anticipating manufacturing production to fall 0.70%.
UK construction output declined more than expected in January
On a MoM basis in the UK, construction output fell 0.40% in January, compared to an advance of 1.80% in the prior month. Market anticipation was for construction output to fall 0.20%.
UK manufacturing production advanced less than expected in January
On a YoY basis, manufacturing production in the UK registered a rise of 2.70% in January, less than market expectations for a rise of 2.90%. In the previous month, manufacturing production had recorded a revised rise of 4.20%.
UK industrial production fell less than expected in January
In the UK, industrial production eased 0.40% on a monthly basis in January, compared to a revised advance of 0.90% in the previous month. Market anticipation was for industrial production to drop 0.50%.
UK recorded trade surplus in January
The UK has reported non-EU trade surplus of £2.45 billion in January, from a revised trade deficit of £2.53 billion in the prior month. Market expectation was for a trade deficit of £2.43 billion.
UK total trade deficit dropped in January
Total trade deficit in the UK narrowed to £1.97 billion in January, from a revised total trade deficit of £2.03 billion in the prior month. Markets were anticipating the nation’s total trade deficit to expand to £3.10 billion.
German labour costs advanced in 4Q 2016
In Germany, the seasonally adjusted labour costs advanced 1.50% in 4Q 2016 on a QoQ basis. In the prior quarter, labour costs had registered a revised rise of 0.60%.
German trade surplus narrowed in January
The seasonally adjusted trade surplus in Germany dropped to €14.80 billion in January, from a trade surplus of €18.70 billion in the previous month. Market anticipation was for the nation to register a trade surplus of €18.00 billion.
German current account surplus dropped in January
Germany has posted the non-seasonally adjusted current account surplus of €12.80 billion in January, from a revised current account surplus of €24.80 billion in the previous month. Markets were anticipating the nation to post a current account surplus of €15.50 billion.
German exports advanced more than expected in January
In January, the seasonally adjusted exports rose 2.70% on a MoM basis in Germany, compared to a revised drop of 2.80% in the previous month. Market expectation was for exports to advance 2.00%.
German imports rose more than expected in January
In Germany, the seasonally adjusted imports registered a rise of 3.00% on a monthly basis in January, compared to a revised advance of 0.10% in the prior month. Markets were expecting imports to climb 0.50%.
German labour costs rose in 4Q 2016
On a YoY basis, the working day adjusted labour costs climbed 3.00% in Germany, in 4Q 2016. In the prior quarter, labour costs had advanced by a revised 2.30%.
French manufacturing production unexpectedly dropped in January
Manufacturing production unexpectedly eased 1.00% in France, on a monthly basis in January, lower than market expectations for an advance of 0.50%. In the prior month, manufacturing production had registered a revised similar fall.
French industrial production unexpectedly slid in January
On a monthly basis, in January, industrial production recorded an unexpected drop of 0.30% in France, less than market expectations for an advance of 0.50%. In the previous month, industrial production had dropped by a revised 1.10%.
Spanish retail sales rose less than expected in January
On an annual basis, retail sales in Spain advanced 0.10% in January, lower than market expectations for a rise of 2.50%. Retail sales had climbed by a revised 2.10% in the prior month.
Manufacturing payrolls in the US advanced in February
Manufacturing payrolls climbed by 28.00 K in the US, in February, compared to a revised gain of 11.00 K in the prior month. Markets were anticipating manufacturing payrolls to advance 10.00 K.
US underemployment rate dropped in February
Underemployment rate in the US eased to 9.20% in February. Underemployment rate had recorded a level of 9.40% in the previous month.
US budget surplus widened in February
The US has posted budget surplus of $192.00 billion in February, compared to a budget surplus of $51.26 billion in the previous month. Market anticipation was for the nation to record a budget deficit of $190.00 billion.
US unemployment rate fell in February
Unemployment rate dropped to 4.70% in the US, in February, meeting market expectations. In the prior month, unemployment rate had registered a reading of 4.80%.
US average hourly earnings of all employees rose as expected in February
In February, on a YoY basis, average hourly earnings of all employees climbed 2.80% in the US, compared to a revised advance of 2.60% in the previous month. Market expectation was for average hourly earnings of all employees to climb 2.80%.
Private payrolls in the US advanced in February
In the US, private payrolls advanced by 227.00 K in February, compared to a revised increase of 221.00 K in the previous month. Market anticipation was for private payrolls to rise 215.00 K.
US average hourly earnings of all employees advanced less than expected in February
Average hourly earnings of all employees in the US advanced 0.20% on a monthly basis in February, lower than market expectations for an advance of 0.30%. In the previous month, average hourly earnings of all employees had registered a revised similar rise.
Non-farm payrolls in the US rose in February
Non-farm payrolls advanced by 235.00 K in the US, in February, following a revised gain of 238.00 K in the prior month. Markets were anticipating non-farm payrolls to rise 200.00 K.
US average weekly hours of all employees remained unchanged in February
In the US, average weekly hours of all employees remained unchanged at 34.40 in February, at par with market expectations.
Canadian participation rate eased in February
In Canada, the participation rate registered a drop to 65.80% in February. In the previous month, the participation rate had recorded a level of 65.90%.
Part time employment in Canada slid in February
In Canada, part time employment eased by 89.80 K in February. Part time employment had recorded a gain of 32.40 K in the prior month.
Net number of people employed in Canada advanced unexpectedly in February
The net number of people employed in Canada increased unexpectedly by 15.30 K in February, higher than market anticipations of a decline of 5.00 K. The net number of people employed had recorded a gain of 48.30 K in the previous month.
Number of full time employment in Canada increased in February
In Canada, the number of full time employment registered a rise of 105.10 K in February. The number of full time employment had registered an increase of 15.80 K in the prior month.
Canadian unemployment rate declined unexpectedly in February
The unemployment rate in Canada fell unexpectedly to 6.60% in February, compared to a reading of 6.80% in the previous month. Market expectation was for the unemployment rate to remain unchanged.
Japanese domestic corporate goods price index advanced as expected in February
The domestic corporate goods price index climbed 1.00% in Japan on an annual basis in February, compared to a rise of 0.50% in the previous month. Market expectation was for the domestic corporate goods price index to advance 1.00%.
Japanese domestic corporate goods price index advanced as expected in February
The domestic corporate goods price index advanced 0.20% in Japan on a monthly basis in February, in line with market expectations. The domestic corporate goods price index had climbed 0.60% in the previous month.
Japanese machinery orders dropped more than expected in January
In January, machinery orders slid 3.20% on a monthly basis in Japan, higher than market expectations for a drop of 0.10%. In the previous month, machinery orders had climbed by a revised 2.10%.
Japanese machinery orders fell more than expected in January
On a YoY basis in Japan, machinery orders fell 8.20% in January, higher than market expectations for a drop of 3.70%. Machinery orders had registered a rise of 6.70% in the previous month.
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