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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone GDP dropped in 1Q 2020
In the Euro-zone, the seasonally adjusted second estimate of gross domestic product (GDP) slid 3.80% on a QoQ basis in 1Q 2020, compared to a rise of 0.10% in prior quarter. Markets were expecting GDP to record a drop of 3.80%.
US advance retail sales declined in April
In the US, advance retail sales dropped 16.40% on a MoM basis in April, compared to a revised drop of 8.30% in the previous month. Markets were expecting retail sales to record a drop of 10.00%.
US industrial production dropped in April
In the US, industrial production recorded a drop of 11.20% on a MoM basis in April, compared to a revised fall of 4.50% in the prior month. Markets were anticipating industrial production to ease 11.50%.
US consumer sentiment index unexpectedly rose in May
In the US, the flash consumer sentiment index registered an unexpected rise to a level of 73.70 in May, compared to a reading of 71.80 in the previous month. Markets were expecting the consumer sentiment index to record a drop to a level of 68.00.
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