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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales across all sectors rose less than expected in January
Retail sales across all sectors rose 0.60% in the UK, on an annual basis in January, less than market expectations for a rise of 0.70%. In the previous month, retail sales across all sectors had registered a similar rise.
UK services PMI fell in January
In January, the services PMI in the UK recorded a drop to 53.00, lower than market expectations of a drop to a level of 54.10. The services PMI had recorded a reading of 54.20 in the prior month.
UK official reserves climbed in January
Official reserves registered a rise of $1709.00 million in the UK, in January. In the previous month, official reserves had dropped $44.00 million.
ECB’s Draghi warned of ‘new headwinds’ from a surging Euro
The European Central Bank (ECB) President, Mario Draghi, expressed confidence that the nascent economic recovery across the common currency region would push inflation towards the central bank’s 2.00% goal. However, he cautioned that recent volatility in the Euro could risk derailing the inflation progress in the medium-term and emphasised that the central bank would remain patient and persistent in its efforts until inflationary pressures build up sustainably.
Euro-zone retail sales declined more than expected in December
In December, the seasonally adjusted retail sales registered a drop of 1.10% on a monthly basis in the Euro-zone, higher than market expectations for a fall of 1.00%. Retail sales had recorded a revised rise of 2.00% in the previous month.
Euro-zone composite PMI rose in January
The final composite PMI climbed to 58.80 in January, in the Euro-zone, compared to market expectations of an advance to 58.60. In the prior month, composite PMI had recorded a level of 58.10. The preliminary figures had indicated an advance to 58.60.
Euro-zone retail sales advanced as expected in December
In December, on an annual basis, the seasonally adjusted retail sales registered a rise of 1.90% in the Euro-zone, at par with market expectations. In the previous month, retail sales had risen by a revised 3.90%.
Euro-zone services PMI climbed in January
The final services PMI in the Euro-zone recorded a rise to 58.00 in January, compared to a level of 56.60 in the prior month. The preliminary figures had recorded an advance to 57.60. Market expectation was for services PMI to climb to 57.60.
Euro-zone investor confidence index unexpectedly dropped in February
In February, the investor confidence index registered an unexpected drop to 31.90 in the Euro-zone, compared to market expectations of a rise to 33.20. In the prior month, the investor confidence index had registered a level of 32.90.
German Markit composite PMI surprisingly climbed in January
The final Markit composite PMI rose unexpectedly to 59.00 in Germany, in January, compared to a reading of 58.90 in the previous month. The preliminary figures had indicated a drop to 58.80. Market expectation was for Markit composite PMI to drop to 58.80.
German services PMI rose in January
In Germany, the final services PMI registered a rise to 57.30 in January, compared to market expectations of an advance to a level of 57.00. In the prior month, services PMI had registered a reading of 55.80. The preliminary figures had indicated an advance to 57.00.
French services PMI climbed in January
The final services PMI registered a rise to 59.20 in January, in France, compared to a reading of 59.10 in the previous month. The preliminary figures had recorded an advance to 59.30. Markets were anticipating services PMI to climb to a level of 59.30.
French Markit composite PMI remained steady in January
The final Markit composite PMI remained steady at a level of 59.60 in January, in France. The preliminary figures had recorded an advance to 59.70. Markets were anticipating it rise to a level of 59.70.
Italian services PMI advanced in January
In January, the services PMI in Italy rose to a level of 57.70, compared to market expectations of a rise to 55.90. The services PMI had registered a level of 55.40 in the previous month.
Spanish services PMI climbed in January
The services PMI rose to a level of 56.90 in Spain, in January, compared to market expectations of a rise to a level of 55.00. In the prior month, the services PMI had registered a reading of 54.60.
US Markit services PMI dropped in January
In the US, the final Markit services PMI fell to a level of 53.30 in January, compared to a level of 53.70 in the previous month. Market expectation was for Markit services PMI to drop to 53.30. The preliminary figures had also indicated a drop to 53.30.
US non-manufacturing PMI climbed in January
In January, the non-manufacturing PMI in the US advanced to 59.90, higher than market expectations of a rise to a level of 56.70. The non-manufacturing PMI had registered a revised reading of 56.00 in the prior month.
US Markit composite PMI dropped in January
In January, the final Markit composite PMI recorded a drop to 53.80 in the US. In the prior month, Markit composite PMI had registered a reading of 54.10. The preliminary figures had also indicated a fall to 53.80.
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