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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI unexpectedly rose in April
In the UK, the construction PMI climbed unexpectedly to a level of 53.10 in April, compared to market expectations of a fall to a level of 52.00. In the previous month, the construction PMI had recorded a level of 52.20.
Euro-zone GDP advanced as expected in 1Q 2017
On a QoQ basis, the seasonally adjusted flash gross domestic product (GDP) in the Euro-zone climbed 0.50% in 1Q 2017, compared to an advance of 0.40% in the prior quarter. Markets were anticipating GDP to rise 0.50%.
Euro-zone PPI dropped more than expected in March
In March, the producer price index (PPI) in the Euro-zone registered a drop of 0.30% on a MoM basis, more than market expectations for a drop of 0.10%. The PPI had recorded an unchanged reading in the prior month.
Euro-zone GDP advanced as expected in 1Q 2017
In 1Q 2017, on a YoY basis, the seasonally adjusted flash GDP advanced 1.70% in the Euro-zone, in line with market expectations. GDP had registered a similar rise in the prior quarter.
German number of people unemployed dropped more than expected in April
The number of people unemployed recorded a drop of 15.00 K in Germany in April, compared to a drop of 30.00 K in the prior month. Markets were expecting the number of people unemployed to ease 11.00 K.
German unemployment rate remained steady in April
In April, the seasonally adjusted unemployment rate remained steady at a level of 5.80% in Germany. Markets were expecting unemployment rate to record a flat reading.
FOMC held key interest rate steady
The Federal Open Market Committee (FOMC) unanimously agreed to keep the benchmark interest rate target at 0.75% to 1.00%. The central bank indicated in its statement that a slowdown in the first-quarter US economic growth was “likely to be transitory” and described job gains as “solid”.
US non-manufacturing PMI climbed in April
The non-manufacturing PMI recorded a rise to 57.50 in April, in the US, higher than market expectations of a rise to a level of 55.80. In the previous month, the non-manufacturing PMI had recorded a reading of 55.20.
US mortgage applications dropped in the last week
In the week ended 28 April 2017, on a weekly basis, mortgage applications dropped 0.10% in the US. Mortgage applications had climbed 2.70% in the prior week.
US Markit composite PMI climbed in April
The final Markit composite PMI registered a rise to 53.20 in the US, in April. Markit composite PMI had registered a level of 53.00 in the prior month. The preliminary figures had indicated a drop to 52.70.
US Markit services PMI unexpectedly advanced in April
In April, the final Markit services PMI in the US climbed unexpectedly to 53.10, compared to market expectations of a fall to a level of 52.50. The preliminary figures had indicated a drop to 52.50. In the previous month, Markit services PMI had recorded a level of 52.80.
Private sector employment in the US rose in April
The private sector employment in the US recorded an increase of 177.00 K in April, compared to a revised increase of 255.00 K in the prior month. Markets were expecting the private sector employment to advance 175.00 K.
Chinese Caixin composite PMI dropped in April
Caixin composite PMI dropped to 51.20 in China, in April. In the prior month, Caixin composite PMI had registered a level of 52.10.
Chinese Caixin/Markit services PMI index fell in April
In China, the Caixin/Markit services PMI index fell to a level of 51.50 in April, compared to a reading of 52.20 in the previous month
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