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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK BBA mortgage approvals slid in May
BBA mortgage approvals in the UK dropped to 40.35 K in May, compared to market expectations of a fall to a level of 40.25 K. BBA mortgage approvals had registered a revised reading of 40.69 K in the prior month.
Mario Draghi defended easy monetary policy
The European Central Bank (ECB) President, Mario Draghi defended the central bank’s stimulus policy, arguing that keeping interest rates low had helped create jobs, foster growth and reduce inequality in the Euro-zone.
German Ifo business climate index unexpectedly rose in June
In Germany, the Ifo business climate index registered an unexpected rise to 115.10 in June, compared to market expectations of a fall to 114.50. The Ifo business climate index had recorded a level of 114.60 in the previous month.
German Ifo current assessment index unexpectedly climbed in June
Compared to a reading of 123.20 in the prior month the Ifo current assessment index climbed unexpectedly to a level of 124.10 in June, in Germany. Market expectation was for the Ifo current assessment index to record a flat reading.
German Ifo business expectations index unexpectedly climbed in June
The Ifo business expectations index recorded an unexpected rise to 106.80 in Germany, in June, higher than market expectations of a fall to a level of 106.40. The Ifo business expectations index had registered a level of 106.50 in the prior month.
Spanish PPI climbed in May
The producer price index (PPI) recorded a rise of 5.30% on an annual basis, in May, in Spain. In the prior month, the PPI had advanced by a revised 6.00%.
Spanish PPI advanced in May
The PPI in Spain recorded a rise of 0.10% in May on a monthly basis. In the previous month, the PPI had registered a revised similar rise.
US Dallas Fed manufacturing business index dropped in June
In the US, the Dallas Fed manufacturing business index recorded a drop to 15.00 in June, compared to a reading of 17.20 in the prior month. Markets were expecting the Dallas Fed manufacturing business index to drop to 16.00.
US non-defence capital goods shipments (ex aircraft) surprisingly dropped in May
In May, on a monthly basis, the preliminary non-defence capital goods shipments (ex aircraft) in the US unexpectedly dropped 0.20%, lower than market expectations for an advance of 0.40%. The non-defence capital goods shipments (ex aircraft) had climbed 0.10% in the prior month.
US durable goods orders dropped more than expected in May
In the US, the preliminary durable goods orders dropped 1.10% in May on a monthly basis, more than market expectations for a fall of 0.60%. Durable goods orders had registered a drop of 0.80% in the previous month.
US Chicago Fed national activity index dropped in May
The Chicago Fed national activity index in the US recorded a drop to -0.26 in May, lower than market expectations of a fall to a level of 0.20. The Chicago Fed national activity index had recorded a revised reading of 0.57 in the previous month.
US durable goods orders (ex transportation) advanced less than expected in May
In May, the flash durable goods orders (ex transportation) climbed 0.10% on a MoM basis in the US, less than market expectations for an advance of 0.40%. Durable goods orders (ex transportation) had recorded a drop of 0.50% in the prior month.
US non-defence capital goods orders (ex aircraft) unexpectedly slid in May
The preliminary non-defence capital goods orders (ex aircraft) in the US unexpectedly eased 0.20% in May on a MoM basis, compared to an advance of 0.10% in the prior month. Market anticipation was for the non-defence capital goods orders (ex aircraft) to advance 0.40%.
Japanese leading economic index fell in April
The final leading economic index in Japan dropped to 104.20 in April. In the previous month, the leading economic index had recorded a revised reading of 105.70. The preliminary figures had indicated a drop to 104.50.
Japanese coincident index rose in April
The final coincident index registered a rise to 117.10 in Japan, in April, compared to a level of 114.40 in the previous month. The preliminary figures had recorded an advance to 117.70.
Chinese industrial profits (YoY) rose in May
On a YoY basis, industrial profits (YoY) recorded a rise of 16.70% in May, in China. Industrial profits (YoY) had recorded a rise of 14.00% in the prior month.
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