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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP advanced less than expected in 1Q 2017
In 1Q 2017, the flash gross domestic product (GDP) recorded a rise of 2.10% on a YoY basis in the UK, lower than market expectations for a rise of 2.20%. In the prior quarter, GDP had risen 1.90%.
UK GDP rose less than expected in 1Q 2017
In 1Q 2017, on a quarterly basis, the flash GDP in the UK rose 0.30%, less than market expectations for an advance of 0.40%. GDP had risen 0.70% in the prior quarter.
UK BBA mortgage approvals fell in March
BBA mortgage approvals in the UK fell to a level of 41.06 K in March, compared to a revised level of 42.25 K in the previous month.
Euro-zone CPI advanced more than expected in April
In April, the final consumer price index (CPI) recorded a rise of 1.90% in the Euro-zone, on an annual basis, more than market expectations for a rise of 1.80%. The preliminary figures had indicated an advance of 1.50%. The CPI had registered a rise of 1.50% in the previous month.
Euro-zone core CPI rose more than expected in April
In April, the preliminary core CPI rose 1.20% on a YoY basis in the Euro-zone, more than market expectations for a rise of 1.00%. The core CPI had advanced 0.70% in the previous month.
German retail sales surprisingly rose in March
On a monthly basis in Germany, retail sales unexpectedly climbed 0.10% in March, more than market expectations for a steady reading. Retail sales had climbed by a revised 1.10% in the prior month.
Swiss real retail sales climbed in March
In March, on a YoY basis, real retail sales in Switzerland rose 2.10%. In the previous month, real retail sales had risen by a revised 0.70%.
Swiss KOF economic barometer surprisingly dropped in April
In April, the KOF economic barometer dropped unexpectedly to 106.00 in Switzerland, compared to market expectations of a rise to 107.50. In the prior month, the KOF economic barometer had registered a revised level of 107.20.
US annualised GDP advanced less than expected in 1Q 2017
In 1Q 2017, on a QoQ basis, the preliminary annualised GDP rose 0.70% in the US, compared to an advance of 2.10% in the prior quarter. Market anticipation was for the annualised GDP to rise 1.00%.
US GDP price index rose more than expected in 1Q 2017
On a quarterly basis, the flash gross domestic product price index rose 2.30% in 1Q 2017, in the US, compared to an advance of 2.10% in the previous quarter. Market expectation was for the GDP price index to rise 2.00%.
US Reuters/Michigan consumer sentiment index rose in April
The final Reuters/Michigan consumer sentiment index rose to a level of 97.00 in the US, in April, lower than market expectations of a rise to 98.00. The preliminary figures had indicated an advance to 98.00. In the prior month, the Reuters/Michigan consumer sentiment index had registered a level of 96.90.
US ISM production rose in April
ISM production rose to a level of 58.60 in April, in the US. ISM production had recorded a reading of 57.60 in the previous month.
US Markit manufacturing PMI dropped in April
The final Markit manufacturing PMI recorded a drop to 52.80 in the US, in April, compared to a level of 53.30 in the previous month. The preliminary figures had also recorded a fall to 52.80. Markets were expecting the Markit manufacturing PMI to fall to.
US personal consumption expenditure deflator declined as expected in March
In March, personal consumption expenditure deflator registered a drop of 0.20% in the US on a monthly basis, meeting market expectations. Personal consumption expenditure deflator had climbed 0.10% in the prior month.
US ISM new orders dropped in April
In April, ISM new orders in the US fell to a level of 57.50, compared to a reading of 64.50 in the previous month.
US ISM manufacturing activity index dropped in April
The ISM manufacturing activity index dropped to 54.80 in the US, in April, compared to a reading of 57.20 in the previous month. Market anticipation was for the ISM manufacturing activity index to ease to a level of 56.50.
US construction spending surprisingly fell in March
In March, construction spending registered an unexpected drop of 0.20% on a monthly basis in the US, compared to a revised rise of 1.80% in the prior month. Market expectation was for construction spending to rise 0.40%.
US personal consumption expenditure deflator advanced less than expected in March
In March, personal consumption expenditure deflator recorded a rise of 1.80% in the US on an annual basis, less than market expectations for a rise of 1.90%. In the previous month, personal consumption expenditure deflator had advanced 2.10%.
US core personal consumption expenditure rose as expected in March
In March, on an annual basis, core personal consumption expenditure in the US recorded a rise of 1.60%, meeting market expectations. Core personal consumption expenditure had risen 1.80% in the prior month.
US ISM backlog orders dropped in April
In April, ISM backlog orders eased to 57.00 in the US. In the prior month, ISM backlog orders had registered a reading of 57.50.
US core personal consumption expenditure declined as expected in March
Core personal consumption expenditure slid 0.10% on a MoM basis in the US, in March, meeting market expectations. In the prior month, core personal consumption expenditure had risen 0.20%.
US ISM prices paid index dropped in April
In April, the ISM prices paid index in the US dropped to 68.50, compared to market expectations of a fall to 67.50. The ISM prices paid index had registered a level of 70.50 in the previous month.
US personal income rose less than expected in March
In March, personal income climbed 0.20% in the US on a MoM basis, less than market expectations for a rise of 0.30%. In the prior month, personal income had recorded a revised rise of 0.30%.
US ISM inventories rose in April
ISM inventories in the US rose to a level of 51.00 in April. ISM inventories had recorded a level of 49.00 in the previous month.
US personal spending remained flat in March
Personal spending in the US remained flat on a MoM basis in March, similar to a revised unchanged reading in the prior month. Market expectation was for personal spending to advance 0.20%.
Canadian GDP remained unchanged in February
In Canada, the GDP remained steady on a MoM basis, in February. In the prior month, the GDP had risen 0.60%.
Canadian GDP registered rise in February
The GDP registered a rise of 2.50% on a YoY basis, in February, in Canada. In the prior month, the GDP had registered a rise of 2.30%.
BoJ minutes indicated that members agreed to closely monitor consumer prices
The Bank of Japan’s (BoJ) March monetary policy meeting minutes showed that policymakers agreed to closely monitor consumer prices. Further, they indicated that tighter labour market conditions and rebounding energy prices are having a short-term effect on consumer prices.
Japanese monetary base rose in April
The Bank of Japan has reported that the monetary base rose 19.80% in Japan on a YoY basis, in April. In the prior month, the monetary base had registered a rise of 20.30%.
Japanese Markit composite PMI declined in April
Compared to a reading of 52.90 in the prior month Markit composite PMI fell to a level of 52.60 in Japan, in April.
Japanese vehicle sales rose in April
On an annual basis, vehicle sales registered a rise of 5.40% in April, in Japan. In the previous month, vehicle sales had recorded a rise of 13.80%.
Japanese manufacturing PMI rose in April
The final manufacturing PMI advanced to 52.70 in Japan, in April. Manufacturing PMI had registered a level of 52.40 in the prior month. The preliminary figures had indicated an advance to 52.80.
Chinese Caixin/Markit manufacturing PMI index unexpectedly dropped in April
Caixin/Markit manufacturing PMI index registered an unexpected drop to 50.30 in April, in China, compared to market expectations of a rise to 51.30. Caixin/Markit manufacturing PMI index had recorded a revised level of 51.20 in the previous month.
Chinese NBS manufacturing PMI dropped in April
In China, the NBS manufacturing PMI registered a drop to 51.20 in April, compared to market expectations of a drop to 51.70. In the prior month, the NBS manufacturing PMI had recorded a reading of 51.80.
Chinese NBS non-manufacturing PMI fell in April
In April, the NBS non-manufacturing PMI in China recorded a drop to 54.00. In the previous month, the NBS non-manufacturing PMI had registered a reading of 55.10.
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