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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE’s Carney played down rate hike chances
At his Mansion House speech in London, the Bank of England’s (BoE) Mark Carney warned that given the mixed signals on consumer spending and business investment in the UK and given the still subdued domestic inflationary pressures, in particular anaemic wage growth, now is not the time to raise interest rates.
Euro-zone current account surplus dropped in April
The seasonally adjusted current account surplus in the Euro-zone fell to €22.20 billion in April, from a revised current account surplus of €35.70 billion in the prior month.
Euro-zone current account surplus dropped in April
The non-seasonally adjusted current account surplus in the Euro-zone dropped to €21.50 billion in April. The Eurozone had posted a revised current account surplus of €46.40 billion in the prior month.
German PPI fell more than expected in May
In May, on a monthly basis, the producer price index (PPI) in Germany dropped 0.20%, more than market expectations for a fall of 0.10%. The PPI had advanced 0.40% in the previous month.
German PPI rose less than expected in May
The PPI recorded a rise of 2.80% on an annual basis in May, in Germany, lower than market expectations for a rise of 2.90%. In the prior month, the PPI had recorded a rise of 3.40%.
Italian current account surplus expanded in April
Current account surplus in Italy expanded to €3.43 billion in April, following a current account surplus of €3.12 billion in the previous month.
Spanish trade deficit fell in April
Trade deficit in Spain fell to €1.20 billion in April. Spain had registered a trade deficit of €1.46 billion in the prior month.
US current account deficit expanded in 1Q 2017
The US has posted current account deficit of $116.80 billion in 1Q 2017, following a revised current account deficit of $114.00 billion in the previous quarter. Market anticipation was for a current account deficit of $123.80 billion.
US Redbook index advanced in the last week
In the week ended 16 June 2017, on an annual basis, the Redbook index in the US climbed 2.80%. In the prior week, the Redbook index had advanced 2.10%.
US Redbook index rose in the last week
Redbook Research has indicated that, on a MoM basis, the seasonally adjusted Redbook index in the US advanced 0.70% in the week ended 16 June 2017. The Redbook index had climbed 0.50% in the previous week.
Canadian wholesale sales rose more than expected in April
On a monthly basis, wholesale sales in Canada climbed 1.00% in April, compared to a revised rise of 1.20% in the prior month. Markets were anticipating wholesale sales to climb 0.50%.
BoJ Minutes: Members comfortable with fluctuations in government debt purchases
The Bank of Japan’s (BoJ) April meeting minutes indicated that policymakers have become more optimistic about Japanese exports and industrial production, but remain cautious on inflation expectations. Further, the policymakers agreed that the amount of government debt purchases will fluctuate under its quantitative easing programme, but such changes are not expected to pose problems for its guidance on market operations.
Japanese convenience store sales rose in May
In May, on an annual basis, convenience store sales in Japan climbed 1.00%. Convenience store sales had recorded a rise of 0.30% in the prior month.
Japanese Tokyo department store sales dropped in May
On an annual basis, Tokyo department store sales registered a drop of 1.10% in May, in Japan. Tokyo department store sales had fallen 0.80% in the prior month.
Japanese nationwide department store sales remained flat in May
In Japan, nationwide department store sales remained steady on a YoY basis, in May. Nationwide department store sales had advanced 0.70% in the previous month.
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