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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone consumer confidence index rose in May
In the Euro-zone, the final consumer confidence index advanced to a level of -18.80 in May, compared to a revised level of -22.00 in the previous month.
German CPI advanced as expected in May
In Germany, the flash consumer price index (CPI) recorded a rise of 0.60% on a YoY basis in May, compared to an advance of 0.90% in the previous month. Markets were expecting CPI to record a rise of 0.60%.
US annualized GDP fell more than expected in 1Q 2020
In the US, the second estimate of annualized gross domestic product (GDP) recorded a drop of 5.00% on a QoQ basis in 1Q 2020, compared to a rise of 2.10% in the prior quarter. Markets were expecting GDP to record a fall of 4.80%.
US durable goods orders dropped in April
In the US, the preliminary durable goods orders dropped 17.20% on a MoM basis in April, compared to a fall of 16.60% in the previous month.
US pending home sales dropped in April
In the US, pending home sales dropped 21.80% on a MoM basis in April, compared to a decline of 20.80% in the previous month. Market expectations were for pending home sales to fall 15.00%.
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