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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index rose more than expected in February
In the UK, the Halifax house price index recorded a rise of 5.90% on a MoM basis in February, compared to a revised drop of 3.00% in the prior month. Market expectation was for the index to climb 0.10%.
ECB kept its key interest rate steady
The ECB, at its March monetary policy meeting, maintained the benchmark interest rate steady at 0.00%, and stated that interest rates would remain at record lows at least through the end of this year, citing continuous weakness in the economy. The ECB Chief, Mario Draghi, also warned that pervasive uncertainties are likely to affect fuel demand and pressure prices.
Euro-zone GDP advanced as expected in 4Q 2018
The seasonally adjusted second estimate of gross domestic product (GDP) in the Euro-zone climbed 0.20% on a QoQ basis, in 4Q 2018, compared to a similar rise in the prior quarter. Markets were expecting GDP to climb 0.20%.
US consumer credit advanced more than expected in January
Consumer credit in the US recorded a rise of $17.05 billion in January, compared to a revised rise of $15.36 billion in the previous month. Markets were expecting consumer credit to climb $17.00 billion.
US initial jobless claims slid in the last week
In the US, the seasonally adjusted initial jobless claims eased to a level of 223.00 K in the week ended 02 March 2019, compared to a revised level of 226.00 K in the prior week. Market anticipation was for initial jobless claims to fall to 225.00 K.
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