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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI fell in January
The construction PMI in the UK dropped to a level of 50.60 in January, compared to a level of 52.80 in the prior month. Market anticipation was for the index to fall to a reading of 52.50.
Euro-zone investor confidence index declined in February
The investor confidence index in the Euro-zone eased to a level of -3.70 in February, compared to a reading of -1.50 in the prior month.
US durable goods orders advanced less than expected in November
The US final durable goods orders rose 0.70% on a monthly basis, in November, less than market expectations for an advance of 1.50%. In the prior month, durable goods orders had registered a drop of 4.30%.
US factory orders unexpectedly fell in November
Factory orders in the US unexpectedly fell 0.60% on a monthly basis, in November, compared to a drop of 2.10% in the prior month. Markets were anticipating factory orders to climb 0.30%.
RBA maintained its interest rate
The Reserve Bank of Australia (RBA), at its February monetary policy meeting, opted to keep the official cash rate on hold at record low of 1.50%, citing low inflation, stubborn wages growth and slowing economy. However, the central bank slashed its annual economic growth forecast to around 3.0% from 3.5%, and warned that downside risks to the economy had increased.
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