Guardian Stockbrokers Key Economic News Thursday 8 April 2021

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

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UK services PMI advanced in March

In the UK, the final services PMI advanced to a level of 56.30 in March, compared to a reading of 49.50 in the prior month. Market anticipations were for the services PMI to climb to a level of 56.80.

UK house price balance climbed in March

In the UK, house price balance registered a rise to 59.00% in March, compared to a revised reading of 54.00% in the previous month.

Euro-zone services PMI rose more than expected in March

In the Euro-zone, the final services PMI recorded a rise to 49.60 in March, compared to a level of 45.70 in the previous month. Markets were anticipating services PMI to climb to a level of 48.80.

German services PMI rose more than anticipated in March

In Germany, the final services PMI rose to a level of 51.50 in March, compared to a level of 45.70 in the prior month. Markets were anticipating services PMI to climb to 50.80.

FOMC minutes: Fed says policy to remain unchanged

Minutes of the US Fed March monetary policy meeting, indicated that the central bank is unlikely to change its ultra-loose monetary policy for some time. The meeting minutes revealed that while officials saw the economy gaining substantially, they see much more progress needed before ultra-easy policy changes. Also, policymakers viewed the coronavirus pandemic as posing considerable risks to the economic outlook. However, members stated that the $120.0 billion a month in bond purchases were providing substantial support to the economy.

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