The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone services PMI unexpectedly rose in March
The final services Purchasing Managers’ Index (PMI) registered an unexpected rise to 53.30 in the Euro-zone, in March, compared to a level of 52.80 in the previous month. Markets were anticipating services PMI to drop to a level of 52.70.
Euro-zone retail sales advanced more than expected in February
The seasonally adjusted retail sales in the Euro-zone climbed 2.80% on a YoY basis in February, more than market expectations for an advance of 2.30%. In the previous month, retail sales had advanced 2.20%.
UK services PMI dropped in March
The services PMI fell to a level of 48.90 in March, in the UK, compared to a reading of 51.30 in the previous month. Market anticipation was for the services PMI to drop to 50.90.
German services PMI surprisingly rose in March
The final services PMI climbed unexpectedly to 55.40 in March, in Germany, compared to market expectations of a fall to 54.90. Services PMI had registered a reading of 55.30 in the prior month.
US services PMI eased in March
In March, the final Markit services PMI in the US recorded a drop to 55.30, compared to a reading of 56.00 in the previous month. Market anticipation was for the services PMI to ease to a level of 54.80.
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