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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price balance advanced in February
In February, house price balance registered a rise to 50.00 in the UK, at par with market expectations. In the previous month, house price balance had recorded a revised level of 48.00.
UK NIESR estimated GDP advanced in the December-February 2016 period
The NIESR estimated gross domestic product (GDP) in the UK recorded a rise of 0.30% in the December-February 2016 period on a monthly basis. NIESR estimated GDP had advanced 0.40% in the November-January 2016 period.
UK manufacturing production fell less than expected in January
Manufacturing production registered a drop of 0.10% in the UK on a YoY basis in January, compared to a fall of 1.70% in the previous month. Markets were expecting manufacturing production to fall 0.70%.
UK manufacturing production rose more than expected in January
Manufacturing production recorded a rise of 0.70% in the UK, on a MoM basis in January, more than market expectations for an advance of 0.20%. In the previous month, manufacturing production had fallen by a revised 0.30%.
UK industrial production surprisingly rose in January
On an annual basis, industrial production recorded an unexpected rise of 0.20% in the UK, in January, more than market expectations for a steady reading. Industrial production had fallen by a revised 0.20% in the prior month.
UK industrial production rose less than expected in January
On a MoM basis in January, industrial production registered a rise of 0.30% in the UK, less than market expectations for an advance of 0.40%. In the prior month, industrial production had registered a drop of 1.10%.
French business sentiment index slid unexpectedly in February
In February, the business sentiment index in France fell unexpectedly to a level of 98.00, compared to a reading of 101.00 in the previous month. Market expectation was for the business sentiment index to record a steady reading.
Spanish housing price index slid in 4Q 2015
On a QoQ basis, the housing price index recorded a drop of 0.10% in Spain, in 4Q 2015. In the previous quarter, the housing price index had climbed 0.70%.
US wholesale inventories surprisingly climbed in January
In the US, the seasonally adjusted wholesale inventories unexpectedly climbed 0.30% on a MoM basis in January, higher than market expectations for a drop of 0.20%. In the previous month, the wholesale inventories had registered a revised unchanged reading.
US mortgage applications recorded a rise in the last week
Mortgage applications recorded a rise of 0.20% in the US on a weekly basis, in the week ended 04 March 2016. In the prior week, mortgage applications had dropped 4.80%.
BoC held its key interest rate
The Bank of Canada (BoC) held its key interest rate at 0.50%. Markets were anticipating the central bank to hold its key interest rate at 0.50%.
BoC kept interest rate steady
The BoC chose to keep its overnight interest rate unchanged at 0.5% as widely anticipated. In a statement accompanying the rate announcement, the central bank stated that the global economy has progressed largely as it had projected in its January Policy Report. In addition, the statement pointed out that both the price of oil and the Canadian Dollar are close to levels the bank had forecasted in January. The BoC was generally upbeat about near-term economic conditions and added that recent inflationary pressures will likely unwind in the coming months.
Japanese domestic corporate goods price index dropped as expected in February
The domestic corporate goods price index dropped 3.40% on an annual basis in February, in Japan, meeting market expectations. The domestic corporate goods price index had recorded a revised drop of 3.20% in the previous month.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors remained net buyers of ¥1537.90 billion worth of foreign bonds in the week ended 04 March 2016, as compared to being net buyers of a revised ¥932.40 billion worth of foreign bonds in the prior week.
Japanese domestic corporate goods price index declined less than expected in February
In February, the domestic corporate goods price index fell 0.20% in Japan on a monthly basis, compared to a revised drop of 1.00% in the previous month. Market anticipation was for the domestic corporate goods price index to ease 0.30%.
Japanese average office vacancies in Tokyo recorded a rise in February
In February, on a MoM basis, average office vacancies in Tokyo registered a rise of 4.04% in Japan. Average office vacancies in Tokyo had risen 4.01% in the prior month.
Japanese machine tool orders recorded a drop in February
The preliminary machine tool orders fell 22.60% on an annual basis in Japan, in February. In the previous month, machine tool orders had dropped 17.20%.
Japanese investors became net buyers of foreign stocks in the previous week
Japanese investors remained net buyers of ¥252.40 billion worth of foreign stocks in the week ended 04 March 2016, from being net buyers of ¥382.30 billion worth of foreign stocks in the prior week.
Foreign investors turned net sellers of Japanese bonds in the previous week
Foreign investors turned net sellers of ¥86.30 billion worth of Japanese bonds in the week ended 04 March 2016, from being net buyers of ¥211.80 billion worth of Japanese bonds in the previous week.
Foreign investors remained net sellers of Japanese stocks in the previous week
Foreign investors remained net sellers of ¥138.50 billion worth of Japanese stocks in the week ended 04 March 2016, from being net sellers of a revised ¥1015.80 billion worth of Japanese stocks in the prior week.
Chinese consumer price index rose more than expected in February
On an annual basis, the consumer price index in China climbed 2.30% in February, compared to an advance of 1.80% in the previous month. Markets were expecting the consumer price index to climb 1.80%.
Chinese producer price index declined as expected in February
The producer price index in China registered a drop of 4.90% in February on an annual basis, compared to a drop of 5.30% in the prior month. Markets were expecting the producer price index to fall 4.90%.
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