Guardian Stockbrokers Key Economic News Monday 6 March 2023

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

UK services PMI advanced more than expected in February

In the UK, the S&P Global/CIPS services PMI rose to 53.50 in February, compared to a level of 48.70 in the prior month. Markets were anticipating the PMI to rise to 53.30.

Euro-zone PPI climbed less than anticipated in January

In the Euro-zone, the PPI advanced 15.00% on a YoY basis in January, compared to a rise of 24.60% in the previous month. Markets were anticipating the PPI to rise 17.70%.

Euro-zone services PMI advanced less than expected in February

In the Euro-zone, the S&P Global services PMI climbed to 52.70 in February, compared to a level of 50.80 in the prior month. Markets were expecting the services PMI to climb to 53.00.

German trade surplus widened more than expected in January

In Germany, trade surplus widened to €16.70 billion in January, compared to a surplus of €10.00 billion in the prior month. Market expectations were for trade surplus to widen to €11.00 billion.

US ISM services PMI fell less than anticipated in February

In the US, the ISM services PMI dropped to 55.10 in February, compared to a level of 55.20 in the previous month. Markets were anticipating the services PMI to drop to 54.50

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