Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE left interest rates unchanged, lowered 2017 growth forecast
The Bank of England (BoE), at its latest monetary policy meeting, opted to keep its interest rates steady at a record low level of 0.25%. Further, the BoE lowered its UK growth forecast for this year to 1.90% from 2.00%, while raised it for 2018 to 1.70% from 1.60%.
UK manufacturing production rose less than expected in March
In the UK, manufacturing production registered a rise of 2.30% on a YoY basis in March, compared to a revised advance of 3.00% in the previous month. Markets were expecting manufacturing production to advance 3.00%.
UK trade deficit widened in March
Non-EU trade deficit in the UK expanded to £4.67 billion in March, compared to a revised trade deficit of £3.12 billion in the previous month. Market expectation was for the nation to record a trade deficit of £3.30 billion.
UK construction output surprisingly fell in March
In the UK, construction output recorded an unexpected drop of 0.70% in March, on a monthly basis, lower than market expectations for a rise of 0.40%. In the prior month, construction output had dropped by a revised 1.30%.
UK NIESR estimated GDP advanced less than expected in the February-April 2017 period
On a monthly basis, in the February-April 2017 period, NIESR estimated gross domestic product (GDP) climbed 0.20% in the UK, compared to a revised rise of 0.30% in the January-March 2017 period. Markets were expecting NIESR estimated GDP to advance 0.40%.
UK construction output rose less than expected in March
On an annual basis, construction output in the UK registered a rise of 2.40% in March, compared to a revised advance of 0.90% in the previous month. Market expectation was for construction output to rise 2.90%.
UK manufacturing production fell more than expected in March
On a monthly basis, manufacturing production eased 0.60% in the UK, in March, more than market expectations for a fall of 0.20%. In the prior month, manufacturing production had fallen by a revised 0.30%.
UK industrial production declined more than expected in March
In March, industrial production in the UK eased 0.50% on a MoM basis, compared to a revised drop of 0.80% in the previous month. Markets were expecting industrial production to drop 0.40%.
UK industrial production advanced less than expected in March
Industrial production in the UK registered a rise of 1.40% on an annual basis in March, compared to a revised rise of 2.50% in the prior month. Markets were expecting industrial production to rise 2.00%.
UK visible trade deficit expanded in March
Visible trade deficit in the UK expanded to £13.44 billion in March, more than market expectations of a visible trade deficit of £11.60 billion. The UK had posted a revised visible trade deficit of £11.45 billion in the prior month.
UK total trade deficit rose in March
The UK has registered total trade deficit of £4.90 billion in March, compared to a revised total trade deficit of £2.65 billion in the previous month. Markets were expecting a total trade deficit of £3.00 billion.
European Commission lifted Euro-zone’s growth forecast for 2017
The European Commission, in its quarterly economic forecast report, slightly upgraded Euro-zone’s economic growth forecast to 1.70% for 2017, from 1.60% estimated earlier in February. However, the Commission left the region’s growth predictions for 2018 unchanged.
German WPI rose in April
In Germany, the wholesale price index (WPI) climbed 4.70% on a YoY basis, in April. In the prior month, the WPI had registered a similar rise.
German WPI advanced in April
On a MoM basis, the WPI rose 0.30% in Germany, in April. The WPI had recorded an unchanged reading in the previous month.
Swiss EU HICP climbed in April
The EU harmonised consumer price index (HICP) in Switzerland recorded a rise of 0.50% in April on a monthly basis. In the previous month, the EU HICP had climbed 0.10%.
Swiss CPI rose less than expected in April
On an annual basis in April, the consumer price index (CPI) recorded a rise of 0.40% in Switzerland, compared to an advance of 0.60% in the prior month. Market anticipation was for the CPI to advance 0.50%.
Swiss CPI advanced as expected in April
The CPI climbed 0.20% on a MoM basis in April, in Switzerland, compared to a similar rise in the prior month. Markets were expecting the CPI to rise 0.20%.
Swiss EU HICP rose in April
In Switzerland, the EU HICP recorded a rise of 0.70% in April on an annual basis. In the prior month, the EU HICP had advanced 0.50%.
US producer price advanced more than expected in April
Producer price in the US climbed 0.50% on a monthly basis in April, compared to a fall of 0.10% in the prior month. Markets were anticipating producer price to rise 0.20%.
US producer price (ex-food & energy) advanced more than expected in April
On a YoY basis, producer price (ex-food & energy) rose 1.90% in April, in the US, higher than market expectations for an advance of 1.60%. Producer price (ex-food & energy) had risen 1.60% in the prior month.
US producer price rose more than expected in April
In April, producer price registered a rise of 2.50% in the US on an annual basis, more than market expectations for an advance of 2.20%. Producer price had risen 2.30% in the prior month.
US producer price (ex-food & energy) advanced more than expected in April
Producer price (ex-food & energy) climbed 0.40% on a MoM basis in the US, in April, compared to an unchanged reading in the previous month. Markets were expecting producer price (ex-food & energy) to advance 0.20%.
US initial jobless claims unexpectedly declined in the last week
The seasonally adjusted initial jobless claims in the US eased unexpectedly to 236.00 K in the week ended 06 May 2017, lower than market expectations of a rise to a level of 245.00 K. In the prior week, initial jobless claims had registered a reading of 238.00 K.
US continuing jobless claims unexpectedly eased in the last week
In the week ended 29 April 2017, the seasonally adjusted continuing jobless claims fell unexpectedly to 1918.00 K in the US, lower than market expectations of a rise to 1980.00 K. In the prior week, continuing jobless claims had registered a revised reading of 1979.00 K.
Canadian new housing price index rose as expected in March
In March, the new housing price index rose 0.20% in Canada on a MoM basis, in line with market expectations. In the prior month, the new housing price index had advanced 0.40%.
Canadian new housing price index rose in March
In Canada, the new housing price index climbed 3.30% on a YoY basis, in March. In the previous month, the new housing price index had registered a similar rise.
Japanese Eco Watchers Survey for current situation rose in April
Eco Watchers Survey for the current situation advanced to 48.10 in April, in Japan, higher than market expectations of an advance to a level of 47.80. Eco Watchers Survey for the current situation had registered a reading of 47.40 in the prior month.
Japanese money supply M2+CD rose as expected in April
In April, money supply M2+CD rose 4.30% in Japan on a YoY basis, at par with market expectations. In the previous month, money supply M2+CD had advanced by a revised 4.20%.
Japanese M3 money supply advanced as expected in April
On a YoY basis, in April, M3 money supply climbed 3.60% in Japan, in line with market expectations. In the prior month, M3 money supply had registered a similar rise.
Japanese corporate bankruptcies dropped in April
In April, on an annual basis, corporate bankruptcies registered a drop of 2.15% in Japan. Corporate bankruptcies had advanced 5.36% in the prior month.
Japanese Eco Watchers Survey for future outlook rose in April
Eco Watchers Survey for the future outlook recorded a rise to 48.80 in Japan, in April, compared to market expectations of a rise to 48.20. In the previous month, Eco Watchers Survey for the future outlook had recorded a reading of 48.10.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
