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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK official reserves advanced in May
Official reserves advanced $1115.00 million in the UK, in May. Official reserves had registered a rise of $1362.00 million in the prior month.
UK services PMI fell in May
In May, the services PMI dropped to 53.80 in the UK, lower than market expectations of a fall to 55.00. The services PMI had recorded a reading of 55.80 in the prior month.
UK new car registrations dropped in May
New car registrations fell 8.50% in the UK on an annual basis, in May. In the prior month, new car registrations had recorded a drop of 19.80%.
UK retail sales across all sectors dropped more than expected in May
On a YoY basis, in the UK, retail sales across all sectors fell 0.40% in May, higher than market expectations for a drop of 0.20%. In the previous month, retail sales across all sectors had registered a rise of 5.60%.
Euro-zone composite PMI steadied in May
The final composite PMI remained steady at 56.80 in May, in the Euro-zone, meeting market expectations. The preliminary figures had also recorded an unchanged reading.
Euro-zone services PMI dropped in May
In May, the final services PMI dropped to 56.30 in the Euro-zone, compared to market expectations of a fall to a level of 56.20. The preliminary figures had recorded a fall to 56.20. In the previous month, services PMI had registered a level of 56.40.
German services PMI remained flat in May
In May, the final services PMI remained unchanged at a level of 55.40 in Germany, higher than market expectations of a drop to 55.20. The preliminary figures had recorded a fall to 55.20.
French services PMI advanced in May
The final services PMI registered a rise to 57.20 in France, in May, compared to market expectations of an advance to 8.00. The preliminary figures had indicated an advance to 58.00. In the previous month, services PMI had registered a reading of 56.70.
Italian services PMI declined in May
The services PMI in Italy dropped to 55.10 in May, lower than market expectations of a fall to 55.30. The services PMI had registered a level of 56.20 in the prior month.
Spanish services PMI declined in May
In May, the services PMI in Spain dropped to 57.30, compared to a reading of 57.80 in the prior month. Markets were anticipating the services PMI to fall to a level of 57.50.
US non-defense capital goods shipments (ex aircraft) rose in April
The final non-defense capital goods shipments (ex aircraft) rose 0.10% on a MoM basis, in April, in the US. The non-defense capital goods shipments (ex aircraft) had risen by a revised 0.20% in the prior month. The preliminary figures had indicated a fall of 0.10%.
US durable goods orders declined more than expected in April
The final durable goods orders fell 0.80% on a monthly basis in April, in the US, higher than market expectations for a drop of 0.60%. Durable goods orders had recorded a revised rise of 2.30% in the previous month. The preliminary figures had indicated a fall of 0.70%.
US durable goods orders (ex transportation) dropped more than expected in April
In April, the final durable goods orders (ex transportation) slid 0.50% in the US on a monthly basis, more than market expectations for a drop of 0.20%. The preliminary figures had recorded a drop of 0.40%. Durable goods orders (ex transportation) had climbed by a revised 0.80% in the previous month.
US non-farm business productivity steadied in 1Q 2017
On a QoQ basis in 1Q 2017, the final non-farm business productivity remained unchanged in the US, higher than market expectations for a drop of 0.10%. The preliminary figures had recorded a fall of 0.60%. The non-farm business productivity had registered a revised rise of 1.80% in the previous quarter.
US factory orders dropped as expected in April
On a monthly basis, factory orders eased 0.20% in April, in the US, in line with market expectations. In the previous month, factory orders had registered a revised rise of 1.00%.
US Markit composite PMI advanced in May
The final Markit composite PMI in the US registered a rise to 53.60 in May, compared to a level of 53.20 in the prior month. The preliminary figures had indicated a steady reading.
US unit labor costs in non-farm businesses rose less than expected in 1Q 2017
In 1Q 2017, the final unit labor costs in non-farm businesses rose 2.20% on a quarterly basis in the US, less than market expectations for an advance of 2.40%. The preliminary figures had indicated a rise of 3.00%. In the previous quarter, the unit labor costs in non-farm businesses had climbed by a revised 1.30%.
US non-defense capital goods orders (ex aircraft) advanced as expected in April
On a MoM basis, the final non-defense capital goods orders (ex aircraft) advanced 0.10% in April, in the US, at par with market expectations. The preliminary figures had indicated a steady reading. The non-defense capital goods orders (ex aircraft) had registered a revised unchanged reading in the previous month.
US Markit services PMI rose in May
The final Markit services PMI climbed to 53.60 in May, in the US. In the prior month, Markit services PMI had registered a level of 53.10. The preliminary figures had indicated an advance to 54.00.
US non-manufacturing PMI slid in May
In May, the non-manufacturing PMI in the US recorded a drop to 56.90, compared to a reading of 57.50 in the previous month. Market expectation was for the non-manufacturing PMI to drop to a level of 57.10.
Japanese labour cash earnings advanced more than expected in April
Labour cash earnings in Japan advanced 0.50% on an annual basis in April, compared to a revised flat reading in the previous month. Markets were expecting labour cash earnings to advance 0.30%.
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