Guardian Stockbrokers Key Economic News Monday 1 February 2021

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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German GDP rose more than expected in 4Q 2020

In Germany, GDP rose 0.10% on a QoQ basis in 4Q 2020, compared to a rise of 8.50% in the previous quarter. Markets were expecting to record a flat reading.

German unemployment rate remained steady in January

In Germany, the unemployment rate remained unchanged at 6.00% in January. Markets were expecting the unemployment rate to climb to 6.10%.

US consumer sentiment index fell in January

In the US, the final consumer sentiment index fell to a level of 79.00 in January, compared to a reading of 80.70 in the prior month. Markets were expecting the index to record a fall to a level of 79.20.

US pending home sales fell more than expected in December

In the US, pending home sales fell 0.30% on a MoM basis in December, compared to a revised fall of 2.50% in the prior month. Markets were expecting pending home sales to record a drop of 0.10%.

US Chicago Fed Purchasing Managers’ Index unexpectedly rose in January

In the US, the Chicago Fed Purchasing Managers’ Index unexpectedly rose to a level of 63.80 in January, compared to a revised reading of 58.70 in the prior month. Markets were expecting the index to record a drop to 58.50.

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