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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Number of unemployment benefits claimants in the UK eased in February
Number of unemployment benefits claimants in the UK dropped by 11.30 K in February, compared to a fall of 42.40 K in the prior month.
UK ILO unemployment rate surprisingly dropped in the November-January 2017 period
The ILO unemployment rate unexpectedly dropped to 4.70% in the November-January 2017 period, in the UK, compared to a level of 4.80% in the October-December 2016 period. Markets were expecting the ILO unemployment rate to remain unchanged.
UK claimant count rate declined in February
The claimant count rate eased to 2.10% in February, in the UK. The claimant count rate had recorded a revised level of 2.20% in the prior month.
Employment in the UK rose in the November-January 2017 period
In the UK, employment registered a rise of 92.00 K in the November-January 2017 period, more than market expectations of an advance of 87.00 K. Employment had recorded a gain of 37.00 K in the October-December 2016 period.
UK average earnings excluding bonus advanced less than expected in the November-January 2017 period
On an annual basis in the November-January 2017 period, the average earnings excluding bonus recorded a rise of 2.30% in the UK, lower than market expectations for a rise of 2.50%. The average earnings excluding bonus had climbed 2.60% in the October-December 2016 period.
UK average earnings including bonus advanced less than expected in the November-January 2017 period
In the UK, the average earnings including bonus recorded a rise of 2.20% on a YoY basis in the November-January 2017 period, compared to a rise of 2.60% in the October-December 2016 period. Market anticipation was for the average earnings including bonus to rise 2.40%.
Euro-zone number of persons employed climbed in 4Q 2016
In 4Q 2016, on a QoQ basis, the number of persons employed in the Euro-zone advanced 0.30%. In the previous quarter, the number of persons employed had recorded a rise of 0.20%.
French CPI (ex-tobacco) advanced as expected in February
The final consumer price index (CPI) (ex-tobacco) in France rose 1.20% in February on an annual basis, meeting market expectations. The preliminary figures had also recorded an advance of 1.20%. In the previous month, the CPI (ex-tobacco) had recorded a rise of 1.30%.
French CPI (ex-tobacco) advanced as expected in February
The final CPI (ex-tobacco) advanced 0.10% in France on a monthly basis in February, at par with market expectations. In the prior month, the CPI (ex-tobacco) had fallen 0.20%. The preliminary figures had also recorded a rise of 0.10%.
French EU normalised CPI rose more than expected in February
In February, the final EU normalised CPI in France, rose 0.20% on a MoM basis, higher than market expectations for an advance of 0.10%. In the previous month, EU normalised CPI had dropped by a revised 0.30%. The preliminary figures had recorded an advance of 0.10%.
Italian retail sales unexpectedly dropped in January
In January, the non-seasonally adjusted retail sales registered an unexpected drop of 0.10% in Italy on a YoY basis, less than market expectations for a rise of 0.80%. In the prior month, retail sales had fallen 0.20%.
Italian EU normalised CPI rose in February
In Italy, the final EU normalised CPI registered a rise of 0.20% on a MoM basis, in February. The EU normalised CPI had registered a drop of 1.70% in the prior month. The preliminary figures had also indicated an advance of 0.20%.
Italian retail sales rose more than expected in January
In Italy, the seasonally adjusted retail sales recorded a rise of 1.40% on a MoM basis in January, more than market expectations for an advance of 0.20%. In the previous month, retail sales had fallen 0.50%.
Italian CPI rose in February
In Italy, the final CPI rose 0.30% on a monthly basis, in February. In the previous month, the CPI had registered a similar rise. The preliminary figures had also recorded a rise of 0.30%.
Swiss producer and import price index surprisingly fell in February
In February, on a MoM basis, the producer and import price index registered an unexpected drop of 0.20% in Switzerland, less than market expectations for an advance of 0.40%. In the previous month, the producer and import price index had recorded a rise of 0.40%.
Swiss producer and import price index rose less than expected in February
The producer and import price index in Switzerland advanced 1.30% in February on an annual basis, compared to an advance of 0.80% in the prior month. Market anticipation was for the producer and import price index to advance 1.80%.
Fed hiked key interest rate, projected two more increases in 2017
The Federal Open Market Committee (FOMC) raised the benchmark interest rate by 25 basis points to a target of 0.75% to 1.00%, a move spurred by steady US economic growth, strong job gains and confidence that inflation is rising to the Federal Reserve’s (Fed) target. However, the Fed Chairwoman, Janet Yellen did not flag any plan to accelerate the pace of monetary tightening and stressed that the central bank remains data-dependent with future rate increases being “gradual”. Further, the central bank stuck to its outlook for two additional rate increases this year and three more in 2018.
US CPI advanced as expected in February
In February, the CPI advanced 2.70% on a YoY basis in the US, in line with market expectations. The CPI had climbed 2.50% in the prior month.
US retail sales (ex-auto & gas) rose as expected in February
In the US, retail sales (ex-auto & gas) registered a rise of 0.20% in February on a monthly basis, compared to a revised advance of 1.10% in the prior month. Markets were expecting retail sales (ex-auto & gas) to advance 0.20%.
US core CPI climbed in February
The seasonally adjusted core CPI rose to a level of 251.30 in the US, in February, compared to market expectations of an advance to 251.16. In the previous month, the core CPI had recorded a reading of 250.78.
US mortgage applications advanced in the last week
On a weekly basis, mortgage applications recorded a rise of 3.10% in the US, in the week ended 10 March 2017. In the previous week, mortgage applications had risen 3.30%.
US retail sales ex-autos advanced more than expected in February
On a MoM basis, retail sales ex-autos climbed 0.20% in the US, in February, higher than market expectations for a rise of 0.10%. In the prior month, retail sales ex-autos had advanced by a revised 1.20%.
US CPI unexpectedly rose in February
In the US, the CPI recorded an unexpected rise of 0.10% on a MoM basis in February, higher than market expectations for a steady reading. In the prior month, the CPI had registered a rise of 0.60%.
US advance retail sales unexpectedly rose in February
Advance retail sales in the US unexpectedly climbed 0.10% on a MoM basis in February, compared to a revised rise of 0.60% in the previous month. Market anticipation was for advance retail sales to ease 0.10%.
US CPI (ex-food & energy) rose as expected in February
The CPI (ex-food & energy) recorded a rise of 2.20% on an annual basis in February, in the US, compared to a rise of 2.30% in the previous month. Markets were anticipating the CPI (ex-food & energy) to rise 2.20%.
US NY Empire State manufacturing index fell in March
The NY Empire State manufacturing index in the US eased to 16.40 in March, compared to market expectations of a fall to a level of 15.00. The NY Empire State manufacturing index had registered a reading of 18.70 in the prior month.
US total net TIC flows rose in January
Total net TIC flows in the US rose to a level of $110.40 billion in January, compared to a revised level of $65.30 billion in the previous month.
US retail sales Control Group advanced less than expected in February
Retail sales Control Group registered a rise of 0.10% in the US on a MoM basis in February, less than market expectations for an advance of 0.20%. Retail sales Control Group had registered a revised rise of 0.80% in the prior month.
US business inventories advanced as expected in January
On a monthly basis, business inventories rose 0.30% in January, in the US, meeting market expectations. Business inventories had recorded a rise of 0.40% in the prior month.
US housing market index climbed surprisingly in March
The housing market index in the US rose unexpectedly to a level of 71.00 in March, compared to a reading of 65.00 in the previous month. Markets were anticipating the housing market index to record a flat reading.
US CPI rose in February
On a monthly basis, the non-seasonally adjusted CPI advanced 0.30% in February, in the US. In the prior month, CPI had advanced 0.60%.
US CPI advanced in February
The non-seasonally adjusted CPI recorded a rise to 243.60 in the US, in February, compared to a level of 242.84 in the prior month. Markets were anticipating the CPI to advance to 243.41.
US CPI (ex-food & energy) rose as expected in February
On a MoM basis, the CPI (ex-food & energy) in the US recorded a rise of 0.20% in February, meeting market expectations. In the prior month, the CPI (ex-food & energy) had recorded a rise of 0.30%.
US net treasury international capital (TIC) long term purchases advanced in January
Compared to a reading of $12.90 billion in the prior month net treasury international capital (TIC) long term purchases in the US registered a rise to $6.30 billion in January.
Canadian existing home sales climbed in February
Existing home sales in Canada rose 5.20% in February on a monthly basis. Existing home sales had fallen 1.30% in the previous month.
Cautious BoJ left monetary policy unchanged
The Bank of Japan (BoJ) held the benchmark interest rate steady at -0.10% and left its target for 10-year government bond yields at around 0.00%. Also, the pace of annual asset purchases remained unchanged at about ¥80.0 trillion. The central bank further indicated that it will continue with quantitative and qualitative monetary easing with yield curve control, aiming to achieve the price stability target of 2.00%.
Japanese capacity utilisation advanced in January
Capacity utilisation advanced 0.10% in Japan on a monthly basis, in January. In the previous month, capacity utilisation had advanced 0.60%.
Japanese investors turned net sellers of foreign stocks in the previous week
Japanese investors turned net sellers of ¥360.50 billion worth of foreign stocks in the week ended 10 March 2017, from being net buyers of ¥76.30 billion worth of foreign stocks in the previous week.
Foreign investors remained net sellers of Japanese stocks in the previous week
Foreign investors were net sellers of ¥722.70 billion worth of Japanese stocks in the week ended 10 March 2017, as compared to being net sellers of a revised ¥165.90 billion worth of Japanese stocks in the previous week.
Foreign investors turned net sellers of Japanese bonds in the previous week
Foreign investors turned net sellers of ¥47.30 billion worth of Japanese bonds in the week ended 10 March 2017, from being net buyers of a revised ¥605.00 billion worth of Japanese bonds in the prior week.
Japanese industrial production dropped in January
The final industrial production in Japan fell 0.40% in January, on a monthly basis. Industrial production had registered a rise of 0.70% in the previous month. The preliminary figures had recorded a drop of 0.80%.
Japanese industrial production rose in January
In January, on an annual basis, the final industrial production in Japan advanced 3.70%. In the previous month, industrial production had risen 3.20%. The preliminary figures had indicated a rise of 3.20%.
Japanese investors remained net sellers of foreign bonds in the previous week
Japanese investors were net sellers of ¥703.90 billion worth of foreign bonds in the week ended 10 March 2017, as compared to being net sellers of a revised ¥1129.50 billion worth of foreign bonds in the previous week.
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