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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI rose in April
The construction PMI in the UK recorded a rise to 52.50 in April, higher than market expectations of a rise to 50.50. The construction PMI had registered a level of 47.00 in the previous month.
Euro-zone GDP rose as expected in 1Q 2018
The seasonally adjusted preliminary GDP advanced 2.50% on a QoQ basis in 1Q 2018, in the Euro-zone, at par with market expectations. In the prior quarter, GDP had recorded a rise of 2.70%.
Euro-zone unemployment rate remained unchanged in March
The unemployment rate remained flat at 8.50% in March, in the Euro-zone, meeting market expectations.
Fed kept key interest rate unchanged, acknowledged pick-up in inflation
The US Fed, at its May monetary policy meeting, unanimously decided to keep the benchmark interest rate unchanged at a target of 1.50% to 1.75%, meeting market expectations. Further, the central bank expressed more confidence in its inflation outlook, stating that annual inflation is expected to run near the central bank’s 2.0% target over the medium term.
Japanese consumer confidence index surprisingly eased in April
The consumer confidence index fell unexpectedly to a level of 43.60 in April, in Japan, compared to a reading of 44.30 in the previous month. Market anticipation was for the consumer confidence index to climb to a level of 44.50.
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