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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI fell in February
The construction PMI in the UK fell to a level of 49.50 in February, lower than market expectations of a fall to a reading of 50.50. The index had registered a level of 50.60 in the previous month.
UK retail sales across all sectors unexpectedly dropped in February
In the UK, retail sales across all sectors unexpectedly dropped by 0.10% on a YoY basis, in February, lower than market expectations for an advance of 0.10%. Retail sales across all sectors had risen 1.80% in the prior month.
Euro-zone investor sentiment improved in March
The investor confidence index in the Euro-zone climbed to a level of -2.20 in March, compared to a level of -3.70 in the prior month. Markets were expecting the index to rise to a reading of -3.10.
US construction spending surprisingly dropped in December
In the US, construction spending unexpectedly fell by 0.60% on a MoM basis in December, compared to an advance of 0.80% in the prior month. Markets were anticipating construction spending to rise 0.20%.
Chinese services PMI index eased in February
The services PMI index in China dropped to a level of 51.10 in February, lower than market expectations of a fall to a reading of 53.50. The index had recorded a reading of 53.60 in the previous month.
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