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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK consumer confidence rose in May
In the UK, the consumer confidence climbed to a level of -10.00 in May, compared to a reading of -13.00 in the prior month. Market anticipation was for the consumer confidence to advance to a level of -12.00.
US annualised GDP advanced more than expected in 1Q 2019
The preliminary annualised gross domestic product (GDP) in the US advanced 3.10% on a QoQ basis in 1Q 2019, more than market expectations for an advance of 3.00%. In the prior quarter, the GDP had recorded a rise of 2.20%.
US initial jobless claims climbed in the last week
In the US, the seasonally adjusted initial jobless claims rose to a level of 215.00 K in the week ended 25 May 2019, compared to a revised level of 212.00 K in the previous week. Market expectation was for initial jobless claims to advance to a level of 214.00 K.
US advance goods trade deficit widened in April
In the US, the advance goods trade deficit widened to $72.10 billion in April, following a revised advance goods trade deficit of $71.90 billion in the prior month. Markets were anticipating the nation to record an advance goods trade deficit of $72.70 billion.
US pending home sales rose more than expected in April
In the US, pending home sales advanced 0.40% on a YoY basis in April, higher than market expectations for an advance of 0.10%. In the previous month, pending home sales had recorded a revised drop of 3.10%.
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