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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector net cash requirement posted a surplus in April
In the UK, in April, public finances (public sector net cash requirement) has posted a surplus £15.21 billion, following a revised deficit of £27.68 billion in the prior month.
UK public sector net borrowing posted a deficit in April
In the UK, in April, the public sector net borrowing has reported a deficit £9.60 billion, as compared to a revised deficit of £2.30 billion in the prior month. Market anticipation was for public sector net borrowing to report a deficit of £8.00 billion.
UK public sector net borrowing posted a deficit in April
In the UK, the public sector net borrowing (excluding temporary effects of financial interventions) has reported a deficit £10.40 billion in April, following a revised deficit of £3.10 billion in the prior month. Market anticipation was for public sector net borrowing to report a deficit of £8.70 billion.
UK CBI distributive trade survey’s retail sales balance dropped in May
In May, the CBI distributive trade survey’s retail sales balance fell to a level of 2.00% in the UK, lower than market expectations of a fall to a level of 10.00%. The CBI distributive trade survey’s retail sales balance had recorded a level of 38.00% in the prior month.
Euro-zone manufacturing PMI unexpectedly climbed in May
The flash manufacturing PMI in the Euro-zone recorded an unexpected rise to a level of 57.00 in May, compared to a level of 56.70 in the previous month. Market expectation was for the manufacturing PMI to ease to a level of 56.50.
Euro-zone services PMI surprisingly slid in May
The flash services PMI in the Euro-zone registered an unexpected drop to a level of 56.20 in May, compared to a level of 56.40 in the prior month. Market expectation was for services PMI to record a steady reading.
Euro-zone composite PMI steadied in May
In May, the preliminary composite PMI remained flat at 56.80 in the Euro-zone. Markets were anticipating composite PMI to ease to a level of 56.70.
German services PMI unexpectedly dropped in May
The flash services PMI recorded an unexpected drop to a level of 55.20 in Germany, in May, compared to market expectations of a rise to 55.50. Services PMI had registered a reading of 55.40 in the previous month.
German manufacturing PMI surprisingly rose in May
In May, the flash manufacturing PMI in Germany recorded an unexpected rise to 59.40, compared to a reading of 58.20 in the prior month. Markets were anticipating manufacturing PMI to drop to a level of 58.00.
German Ifo business expectations index rose in May
In Germany, the Ifo business expectations index rose to a level of 106.50 in May, compared to market expectations of a rise to a level of 105.40. The Ifo business expectations index had registered a level of 105.20 in the previous month.
German construction investment advanced less than expected in 1Q 2017
In 1Q 2017, construction investment climbed 2.30% in Germany on a quarterly basis, compared to a revised advance of 0.80% in the prior quarter. Market expectation was for construction investment to rise 2.50%.
German capital investment advanced as expected in 1Q 2017
On a QoQ basis, capital investment in Germany recorded a rise of 1.70% in 1Q 2017, meeting market expectations. In the prior quarter, capital investment had risen by a revised 0.40%.
German domestic demand advanced less than expected in 1Q 2017
Domestic demand registered a rise of 0.20% on a quarterly basis in Germany, in 1Q 2017, lower than market expectations for an advance of 0.50%. Domestic demand had registered a revised rise of 0.70% in the previous quarter.
German Ifo business climate index advanced in May
In May, the Ifo business climate index advanced to 114.60 in Germany, higher than market expectations of a rise to a level of 113.10. In the prior month, the Ifo business climate index had registered a level of 112.90.
German GDP advanced as expected in 1Q 2017
In Germany, the working day adjusted final gross domestic product (GDP) climbed 1.70% in 1Q 2017, on a YoY basis, in line with market expectations. The preliminary figures had also recorded a rise of 1.70%. In the prior quarter, GDP had registered a revised rise of 1.80%.
German GDP advanced as expected in 1Q 2017
The non-seasonally adjusted final GDP climbed 2.90% in Germany on an annual basis in 1Q 2017, at par with market expectations. The preliminary figures had also indicated a rise of 2.90%. In the previous quarter, GDP had registered a revised rise of 1.30%.
German GDP advanced as expected in 1Q 2017
The seasonally adjusted final GDP in Germany registered a rise of 0.60% in 1Q 2017 on a quarterly basis, meeting market expectations. GDP had registered a rise of 0.40% in the prior quarter. The preliminary figures had also indicated a rise of 0.60%.
German imports rose less than expected in 1Q 2017
In 1Q 2017, on a QoQ basis, imports in Germany advanced 0.40%, less than market expectations for an advance of 1.00%. In the prior quarter, imports had risen by a revised 2.50%.
German private consumption advanced as expected in 1Q 2017
In Germany, private consumption rose 0.30% on a quarterly basis in 1Q 2017, compared to a revised advance of 0.20% in the prior quarter. Market anticipation was for private consumption to advance 0.30%.
German exports advanced less than expected in 1Q 2017
On a quarterly basis, exports in Germany registered a rise of 1.30% in 1Q 2017, lower than market expectations for an advance of 1.50%. Exports had recorded a revised rise of 1.70% in the previous quarter.
German government spending rose more than expected in 1Q 2017
Government spending in Germany climbed 0.40% on a quarterly basis in 1Q 2017, more than market expectations for an advance of 0.30%. In the previous quarter, government spending had recorded a revised rise of 0.30%.
German Ifo current assessment index surprisingly rose in May
In May, the Ifo current assessment index unexpectedly advanced to a level of 123.20 in Germany, compared to market expectations of a fall to 121.00. The Ifo current assessment index had registered a level of 121.10 in the previous month.
French services PMI surprisingly advanced in May
In May, the flash services PMI unexpectedly climbed to 58.00 in France, compared to a reading of 56.70 in the previous month. Markets were anticipating services PMI to remain unchanged.
French production outlook indicator advanced in May
The production outlook indicator advanced to 7.00 in France, in May. The production outlook indicator had registered a reading of 1.00 in the prior month.
French own-company production outlook climbed in May
Compared to a revised level of 13.00 in the previous month own-company production outlook in France recorded a rise to 14.00 in May.
French manufacturing PMI unexpectedly dropped in May
The preliminary manufacturing PMI recorded an unexpected drop to a level of 54.00 in France, in May, lower than market expectations of an advance to a level of 55.20. In the prior month, manufacturing PMI had registered a reading of 55.10.
French industrial business climate index rose in May
The industrial business climate index climbed to 105.00 in France, in May, in line with market expectations. The industrial business climate index had recorded a reading of 104.00 in the prior month.
Spanish trade deficit declined in *No frequency defined*
In *No frequency defined*, trade deficit in Spain fell to €1.46 billion. Spain had posted a trade deficit of €2.61 billion in the previous month.
Swiss exports dropped in April
In April, on a monthly basis, exports in Switzerland dropped 2.50%. In the previous month, exports had registered a revised rise of 1.80%.
Swiss trade surplus dropped in April
Switzerland has registered trade surplus of CHF 1.97 billion in April, from a revised trade surplus of CHF 3.04 billion in the prior month.
Swiss imports climbed in April
Imports climbed 2.60% in Switzerland on a MoM basis, in April. Imports had climbed by a revised 0.60% in the prior month.
US Markit services PMI rose in May
The flash Markit services PMI in the US rose to a level of 54.00 in May, compared to a reading of 53.10 in the prior month. Markets were anticipating Markit services PMI to rise to 53.30.
US Markit manufacturing PMI unexpectedly eased in May
The preliminary Markit manufacturing PMI in the US dropped unexpectedly to 52.50 in May, compared to market expectations of an advance to 53.00. The Markit manufacturing PMI had registered a reading of 52.80 in the previous month.
US new home sales fell in April
In April, new home sales recorded a drop of 11.40%, on monthly basis, to a level of 569.00 K in the US, compared to a reading of 642.00 K in the previous month. Market expectation was for new home sales to drop to 610.00 K.
US Markit composite PMI advanced in May
The preliminary Markit composite PMI in the US rose to a level of 53.90 in May, compared to a level of 53.20 in the prior month.
US Richmond Fed manufacturing index dropped in May
The Richmond Fed manufacturing index in the US eased to 1.00 in May, lower than market expectations of a fall to a level of 15.00. The Richmond Fed manufacturing index had recorded a reading of 20.00 in the prior month.
US Redbook index advanced in the last week
The Redbook index recorded a rise of 2.00% on an annual basis, in the week ended 19 May 2017, in the US. In the prior week, the Redbook index had advanced 2.40%.
US Redbook index fell in the last week
The seasonally adjusted Redbook index dropped 1.10% on a monthly basis in the US, in the week ended 19 May 2017. In the prior week, the Redbook index had registered a similar fall.
Canadian wholesale sales advanced more than expected in March
Wholesale sales registered a rise of 0.90% in Canada on a MoM basis in March, more than market expectations for an advance of 0.80%. In the prior month, wholesale sales had registered a revised rise of 0.30%.
Japanese machine tool orders climbed in April
On an annual basis, the final machine tool orders in Japan advanced 34.70% in April. Machine tool orders had advanced 22.80% in the prior month. The preliminary figures had also indicated a rise of 34.70%.
Japanese nationwide department store sales rose in April
In Japan, nationwide department store sales advanced 0.70% on an annual basis, in April. In the prior month, nationwide department store sales had dropped 0.90%.
Japanese Tokyo department store sales slid in April
Tokyo department store sales in Japan registered a drop of 0.80% on an annual basis, in April. In the previous month, Tokyo department store sales had dropped 0.20%.
Japanese supermarket sales rose in April
In April, on a YoY basis, supermarket sales in Japan rose 0.60%. Supermarket sales had fallen 1.80% in the previous month.
Japanese manufacturing PMI dropped in May
Compared to a reading of 52.70 in the previous month the preliminary manufacturing PMI fell to a level of 52.00 in Japan, in May.
Japanese all industry activity index declined more than expected in March
In March, the all industry activity index recorded a drop of 0.60% in Japan on a MoM basis, higher than market expectations for a drop of 0.50%. In the previous month, the all industry activity index had advanced 0.70%.
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