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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI dropped in April
The manufacturing PMI fell to a level of 53.90 in the UK, in April, compared to a revised level of 54.90 in the previous month. Markets were anticipating the manufacturing PMI to fall to a level of 54.80.
UK net consumer credit advanced less than expected in March
Net consumer credit in the UK rose £0.30 billion in March, less than market expectations for a rise of £1.40 billion. In the prior month, net consumer credit had registered a revised rise of £1.70 billion.
US ISM manufacturing activity index slid in April
The ISM manufacturing activity index dropped to 57.30 in the US, in April, compared to market expectations of a fall to 58.50. In the prior month, the ISM manufacturing activity index had registered a reading of 59.30.
US construction spending surprisingly eased in March
Construction spending recorded an unexpected drop of 1.70% on a MoM basis in the US, in March, compared to a revised advance of 1.00% in the previous month. Markets were anticipating construction spending to advance 0.50%.
Canadian GDP advanced more than expected in February
In February, the GDP advanced 3.00% on an annual basis in Canada, higher than market expectations for an advance of 2.80%. In the previous month, the GDP had registered a rise of 2.70%.
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