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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CBI distributive trade survey’s retail sales balance advanced in June
Compared to a reading of 2.00% in the previous month, the CBI distributive trade survey’s retail sales balance climbed to 12.00% in June, in the UK. Market expectation was for the CBI distributive trade survey’s retail sales balance to advance to 5.00%.
ECB’s Draghi: Stimulus could be scaled back if economy improves
The European Central Bank (ECB) President, Mario Draghi, indicated that the central bank’s stimulus policies are working and will be gradually withdrawn as the Euro-zone economy accelerates. He also warned that any adjustments to the ECB’s stance have to be made gradually, and only when the improving dynamics that justify them appear sufficiently secure.
Italian consumer confidence index advanced in June
In June, the consumer confidence index in Italy rose to a level of 106.40, higher than market expectations of an advance to 105.80. The consumer confidence index had recorded a level of 105.40 in the previous month.
Italian business confidence index unexpectedly rose in June
In June, the business confidence index in Italy registered an unexpected rise to 107.30, compared to market expectations of a fall to a level of 106.70. The business confidence index had registered a reading of 106.90 in the previous month.
Fed’s Yellen still backs gradual interest rate hikes
The US Federal Reserve (Fed) Chairwoman, Janet Yellen, stated that she does not see another financial crisis for at least as long as she lives, thanks largely to reforms of the banking system since the 2007-09 crash. She also reiterated her view that the US central bank would continue to raise interest rates only gradually.
US S&P/Case-Shiller composite HPI of 20 metropolitan areas rose less than expected in April
In the US, the S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas rose 5.67% on a YoY basis in April, less than market expectations for a rise of 5.90%. In the previous month, the S&P/Case-Shiller composite HPI of 20 metropolitan areas had registered a revised rise of 5.88%.
US CB consumer confidence index unexpectedly rose in June
In June, the CB consumer confidence index recorded an unexpected rise to 118.90 in the US, higher than market expectations of a fall to 116.00. In the prior month, the CB consumer confidence index had registered a revised level of 117.60.
US Redbook index rose in the last week
The seasonally adjusted Redbook index rose 0.60% in the US on a MoM basis, in the week ended 23 June 2017. The Redbook index had recorded a rise of 0.70% in the prior week.
US Redbook index rose in the last week
The Redbook index recorded a rise of 2.20% in the US on an annual basis, in the week ended 23 June 2017. In the prior week, the Redbook index had climbed 2.80%.
US S&P/Case-Shiller HPI climbed in April
In April, the S&P/Case-Shiller HPI advanced to 197.19 in the US. In the previous month, the S&P/Case-Shiller HPI had registered a revised reading of 195.38.
US Richmond Fed manufacturing index advanced in June
In June, the Richmond Fed manufacturing index in the US advanced to 7.00, compared to market expectations of an advance to 5.00. In the prior month, the Richmond Fed manufacturing index had registered a reading of 1.00.
US S&P/Case-Shiller composite index of 20 metropolitan areas rose less than expected in April
In the US, the seasonally adjusted S&P/Case-Shiller composite index of 20 metropolitan areas climbed 0.28% in April on a MoM basis, compared to a revised rise of 0.53% in the previous month. Markets were anticipating the S&P/Case-Shiller composite index of 20 metropolitan areas to advance 0.50%.
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