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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK NIESR estimated GDP rose in the March-May 2017 period
In the UK, NIESR estimated gross domestic product (GDP) registered a rise of 0.20% on a MoM basis, in the March-May 2017 period. NIESR estimated GDP had registered a similar rise in the February-April 2017 period.
UK visible trade deficit narrowed in April
Visible trade deficit in the UK narrowed to £10.38 billion in April, following a revised visible trade deficit of £12.05 billion in the previous month. Market expectation was for the country’s visible trade deficit to narrow to £12.00 billion.
UK trade deficit fell in April
Non-EU trade deficit in the UK dropped to £2.07 billion in April. The UK had posted a revised trade deficit of £3.89 billion in the prior month.
UK manufacturing production remained unchanged in April
In the UK, manufacturing production remained flat in April, on a YoY basis, less than market expectations for a rise of 0.70%. In the previous month, manufacturing production had registered a revised rise of 2.20%.
UK industrial production rose less than expected in April
In April, industrial production climbed 0.20% on a MoM basis in the UK, compared to a fall of 0.50% in the previous month. Markets were expecting industrial production to climb 0.70%.
UK total trade deficit fell in April
The UK has reported total trade deficit of £2.05 billion in April, following a revised total trade deficit of £3.90 billion in the previous month. Market expectation was for the nation to register a total trade deficit of £3.50 billion.
UK construction output surprisingly fell in April
In April, construction output recorded an unexpected drop of 1.60% in the UK on a monthly basis, less than market expectations for a rise of 0.40%. Construction output had registered a revised rise of 0.70% in the previous month.
UK industrial production dropped more than expected in April
In April, on a YoY basis, industrial production in the UK fell 0.80%, compared to an advance of 1.40% in the previous month. Markets were anticipating industrial production to ease 0.30%.
UK manufacturing production rose less than expected in April
Manufacturing production in the UK recorded a rise of 0.20% in April on a MoM basis, compared to a fall of 0.60% in the prior month. Market expectation was for manufacturing production to climb 0.80%.
UK construction output dropped more than expected in April
On an annual basis, construction output eased 0.60% in the UK, in April, more than market expectations for a drop of 0.30%. In the prior month, construction output had climbed by a revised 4.30%.
German current account surplus dropped in April
The non-seasonally adjusted current account surplus in Germany dropped to €15.10 billion in April, less than market expectations of a current account surplus of €24.50 billion. Germany had registered a revised current account surplus of €31.10 billion in the prior month.
German trade surplus declined in April
The seasonally adjusted trade surplus in Germany narrowed to €18.10 billion in April, compared to market expectations of a trade surplus of €23.00 billion. Germany had posted a revised trade surplus of €25.30 billion in the previous month.
German imports unexpectedly rose in April
In April, the seasonally adjusted imports registered an unexpected rise of 1.20% on a MoM basis in Germany, compared to a revised advance of 2.10% in the prior month. Markets were anticipating imports to fall 0.50%.
German labor costs rose in 1Q 2017
In 1Q 2017, on an annual basis, the working day adjusted labor costs in Germany registered a rise of 2.50%. Labor costs had recorded a revised rise of 2.90% in the prior quarter.
German labor costs rose in 1Q 2017
In Germany, the seasonally adjusted labor costs climbed 0.50% in 1Q 2017 on a quarterly basis. In the previous quarter, labor costs had advanced 1.50%.
German exports rose more than expected in April
The seasonally adjusted exports rose 0.90% on a MoM basis in April, in Germany, compared to an advance of 0.40% in the previous month. Markets were expecting exports to climb 0.30%.
French industrial production surprisingly dropped in April
On a MoM basis, industrial production unexpectedly eased 0.50% in April, in France, compared to a revised rise of 2.20% in the previous month. Market expectation was for industrial production to rise 0.20%.
French budget deficit widened in April
In April, budget deficit in France rose to €57.90 billion, from a budget deficit of €29.60 billion in the prior month.
French manufacturing production dropped more than expected in April
On a monthly basis, in April, manufacturing production eased 1.20% in France, higher than market expectations for a fall of 0.50%. Manufacturing production had registered a revised rise of 2.80% in the prior month.
US wholesale inventories dropped more than expected in April
In the US, the seasonally adjusted final wholesale inventories recorded a drop of 0.50% in April on a MoM basis, more than market expectations for a fall of 0.30%. The preliminary figures had recorded a drop of 0.30%. In the prior month, the wholesale inventories had risen 0.20%.
Net number of people employed in Canada advanced in May
In Canada, the net number of people employed advanced by 54.50 K in May, more than market anticipations of an advance of 15.00 K. The net number of people employed had registered an increase of 3.20 K in the previous month.
Part time employment in Canada eased in May
Part time employment dropped by 22.30 K in Canada, in May, compared to a gain of 34.30 K in the previous month.
Canadian unemployment rate rose in May
athe unemployment rate rose to a level of 6.60% in May, in Canada, meeting market expectations. In the previous month, the unemployment rate had recorded a reading of 6.50%.
Canadian participation rate climbed in May
In Canada, the participation rate climbed to 65.80% in May. The participation rate had registered a reading of 65.60% in the prior month.
Number of full time employment in Canada rose in May
The number of full time employment in Canada recorded an increase of 77.00 K in May, following a decline of 31.20 K in the prior month.
Canadian capacity utilisation advanced in 1Q 2017
In 1Q 2017, capacity utilisation climbed to 83.30% in Canada, lower than market expectations of a rise to a level of 83.50%. In the previous quarter, capacity utilisation had recorded a revised reading of 81.80%.
Japanese tertiary industry index rose more than expected in April
In April, on a monthly basis, the tertiary industry index rose 1.20% in Japan, more than market expectations for an advance of 0.50%. In the previous month, the tertiary industry index had dropped by a revised 0.30%.
Japanese machinery orders unexpectedly declined in April
In April on a MoM basis, machinery orders in Japan unexpectedly eased 3.10%, lower than market expectations for an advance of 0.50%. In the previous month, machinery orders had registered a revised rise of 1.40%.
Japanese machinery orders advanced less than expected in April
On an annual basis, in April, machinery orders rose 2.70% in Japan, less than market expectations for a rise of 7.40%. Machinery orders had dropped 0.70% in the previous month.
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