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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI slid unexpectedly in February
In February, the construction PMI recorded an unexpected drop to a level of 54.20 in the UK, compared to market expectations of an advance to a level of 55.50. The construction PMI had recorded a reading of 55.00 in the previous month.
Euro-zone PPI declined as expected in January
In January, the producer price index (PPI) in the Euro-zone dropped 1.00% on a MoM basis, in line with market expectations. The PPI had dropped 0.80% in the prior month.
Number of people unemployed in Spain advanced in February
In Spain, number of people unemployed climbed by 2.20 K in February, compared to an increase of 57.20 K in the prior month. Market expectation was for number of people unemployed to rise 7.90 K.
Swiss GDP rose more than expected in 4Q 2015
On a quarterly basis, the seasonally adjusted gross domestic product (GDP) rose 0.40% in 4Q 2015, in Switzerland, compared to a revised drop of 0.10% in the previous quarter. Markets were anticipating GDP to rise 0.10%.
Swiss GDP rose more than expected in 4Q 2015
In 4Q 2015, GDP climbed 0.40% on an annual basis in Switzerland, compared to a rise of 0.80% in the previous quarter. Market anticipation was for GDP to climb 0.10%.
Fed’s Beige Book indicates continued modest growth
The Federal Reserve’s (Fed) Beige Book illustrated a mixed picture of the US economy as most districts continued to expand from early January to late February but growth was described as remaining modest or moderate in half of the districts. Few districts reported a hit to consumer spending citing financial market turmoil as one of the factors and eight districts reported significant headwinds from flat manufacturing activity. In addition, most Fed districts reported modest improvement in labour-market conditions but wage growth varied from flat to strong across the country.
US ADP employment change recorded a rise in February
The ADP private sector employment in the US recorded an increase of 214.00K in February, following a revised increase of 193.00K in the prior month. Markets were expecting the private sector employment to advance 185.00K.
US mortgage applications registered a drop in the last week
Mortgage applications in the US eased 4.80% in the week ended 26 February 2016 on a weekly basis. Mortgage applications had fallen 4.30% in the prior week.
Japanese Markit composite PMI fell in February
In February, Markit composite PMI recorded a drop to 51.00 in Japan, compared to a reading of 52.60 in the prior month.
Foreign investors became net sellers of Japanese stocks in the previous week
Foreign investors remained net sellers of ¥1015.90 billion worth of Japanese stocks in the week ended 26 February 2016, from being net sellers of a revised ¥441.00 billion worth of Japanese stocks in the previous week.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥211.80 billion worth of Japanese bonds in the week ended 26 February 2016, as compared to being net buyers of ¥664.10 billion worth of Japanese bonds in the prior week.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors were net buyers of ¥933.80 billion worth of foreign bonds in the week ended 26 February 2016, from being net buyers of a revised ¥1975.60 billion worth of foreign bonds in the previous week.
Japanese investors became net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥382.30 billion worth of foreign stocks in the week ended 26 February 2016, from being net buyers of a revised ¥448.40 billion worth of foreign stocks in the prior week.
Chinese Caixin/Markit services PMI index recorded a drop in February
The Caixin/Markit services PMI index in China eased to 51.20 in February. The Caixin/Markit services PMI index had recorded a level of 52.40 in the prior month.
Chinese Caixin composite PMI declined in February
In February, Caixin composite PMI dropped to 49.40 in China. In the prior month, Caixin composite PMI had registered a level of 50.10.
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