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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone consumer confidence index declined in May
In May, the final consumer confidence index dropped to 0.20 in the Euro-zone, compared to a revised reading of 0.30 in the previous month. Market anticipation was for the consumer confidence index to fall to a level of 0.20.
German CPI rose more than expected in May
In May, on an annual basis, the flash consumer price index (CPI) registered a rise of 2.20% in Germany, higher than market expectations for an advance of 1.90%. In the previous month, the CPI had advanced 1.60%.
US annualised GDP advanced less than expected in 1Q 2018
In 1Q 2018, the second estimate of annualised gross domestic product (GDP) in the US advanced 2.20% on a quarterly basis, compared to a rise of 2.90% in the prior quarter. The preliminary figures had recorded a rise of 2.30%.
Fed’s Beige Book: US economy on “moderate” growth track, manufacturing sector gained momentum
The US economy expanded moderately from late April to early May. Further, it revealed that most districts reported a pickup in manufacturing activity. However, concerns over the Trump administration’s trade policies clouded the business outlook.
BoC held key interest rate steady, kept door open for a June rate hike
The Bank of Canada (BoC), at its May monetary policy meeting, opted to keep the benchmark interest rate steady at 1.25%, as widely expected. Further, the central bank expressed optimism over the Canadian economy on the back of upbeat economic data and signalled that an interest rate hike is around the corner in order to keep a lid on inflation.
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