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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK balance of firms reporting total order book above normal surprisingly climbed in February
In the UK, the balance of firms reporting total order book above normal unexpectedly climbed to a level of 6.00 in February, higher than market expectations of a drop to a reading of -5.00. The balance of firms reporting total order book above normal had recorded a reading of -1.00 in the prior month.
Euro-zone consumer confidence index advanced in February
In the Euro-zone, the flash consumer confidence index recorded a rise to a level of -7.40 in February, compared to a reading of -7.90 in the prior month. Market anticipation was for the index to climb to a level of -7.70.
US mortgage applications rose in the last week
Mortgage applications in the US rose 3.60% on a weekly basis, in the week ended 15 February 2019. In the prior week, mortgage applications had dropped by a revised 6.90%.
Fed minutes: Policymakers split on the path for future rate hikes
Minutes of the Fed’s January monetary policy meeting indicated that the officials debated on the outlook for further interest rate hikes and favoured a patient approach, citing tightening financial conditions and uncertainties surrounding the progress of US and foreign government policies. Further, it revealed that almost all participants of the policy-setting committee suggested to stop shrinking the balance sheet by year end.
Japanese manufacturing PMI fell in February
The flash manufacturing PMI in Japan eased to a level of 48.50 in February, compared to a reading of 50.30 in the previous month.
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