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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 deficit in March
Public finances (public sector net cash requirement) has posted a deficit £16.60 billion in March, in the UK, from a revised surplus of £0.40 billion in the previous month.
UK public sector net borrowing reported a deficit in March
In the UK, the public sector net borrowing (excluding temporary effects of financial interventions) has reported a deficit of £4.80 billion in March, from a revised deficit of £6.90 billion in the previous month. Market expectation was for public sector net borrowing to report a deficit of £6.00 billion.
UK retail sales dropped more than expected in March
On a MoM basis, in March, retail sales slid 1.30% in the UK, compared to a revised drop of 0.50% in the previous month. Market expectation was for retail sales to drop 0.10%.
UK retail sales advanced less than expected in March
Retail sales advanced 2.70% in the UK on a YoY basis in March, less than market expectations for a rise of 4.40%. Retail sales had advanced by a revised 3.60% in the prior month.
UK public sector net borrowing reported a deficit in March
In the UK, in March, the public sector net borrowing has posted a deficit of £4.20 billion, following a revised deficit of £6.30 billion in the prior month. Market anticipation was for public sector net borrowing to post a deficit of £5.40 billion.
ECB leaves key interest rate unaltered
The ECB left its monetary policy mix unchanged. The central bank held the main refinancing interest rate at 0.0%, the deposit rate at -0.4% and marginal lending facility at 0.25%. However, the ECB President, Mario Draghi, kept the possibility of further interest-rate cuts on the table and brushed off German criticism of his ultra-loose monetary policy. Additionally, he stated that the uncertainty surrounding the UK’s Brexit referendum would continue to weigh on financial markets at least until the voting day of June 23 and that the outcome of the referendum only poses “limited” risk to the Eurozone recovery.
Euro-zone government debt to GDP ratio rose in year 2015
Government debt to GDP ratio registered a rise of 90.70% in the Eurozone on an annual basis, in year 2015. In the prior year, government debt to GDP ratio had climbed by a revised 92.00%.
Euro-zone consumer confidence index climbed in April
The preliminary consumer confidence index in the Euro-zone climbed to -9.30 in April, at par with market expectations. The consumer confidence index had registered a level of -9.70 in the previous month.
French industrial business climate index remained unchanged in April
In France, the industrial business climate index remained unchanged at a level of 101.00 in April. Markets were anticipating the industrial business climate index to drop to a level of 100.00.
French production outlook indicator rose in April
In France, the production outlook indicator climbed to -1.00 in April. In the prior month, the production outlook indicator had registered a revised level of -2.00.
French own-company production outlook registered a drop in April
In France, own-company production outlook registered a drop to 9.00 in April. In the previous month, own-company production outlook had recorded a revised reading of 15.00.
Spanish trade deficit dropped in February
Trade deficit in Spain fell to €1.76 billion in February, following a trade deficit of €2.39 billion in the prior month.
Swiss M3 money supply rose in March
M3 money supply recorded a rise of 1.80% on an annual basis in Switzerland, in March. In the previous month, M3 money supply had risen by a revised 1.60%.
Swiss trade surplus narrowed in March
Switzerland has posted trade surplus of CHF2.16 billion in March, compared to a revised trade surplus of CHF4.02 billion in the prior month.
Swiss exports fell in March
In Switzerland, exports slid 1.10% on a monthly basis, in March. Exports had registered a revised rise of 2.10% in the prior month.
Swiss imports recorded a rise in March
On a MoM basis, imports climbed 9.30% in March, in Switzerland. Imports had recorded a revised drop of 1.50% in the previous month.
US leading indicator advanced less than expected in March
On a MoM basis, in the US, leading indicator registered a rise of 0.20% in March, compared to a revised drop of 0.10% in the prior month. Markets were anticipating leading indicator to climb 0.40%.
US Chicago Fed national activity index recorded a surprise drop in March
The Chicago Fed national activity index eased unexpectedly to a level of -0.44 in March, in the US, compared to market expectations of an advance to a level of -0.15. In the previous month, the Chicago Fed national activity index had recorded a revised reading of -0.38.
US Philadelphia Fed manufacturing index fell in April
In April, Philadelphia Fed manufacturing index dropped to -1.60 in the US, compared to market expectations of a fall to a level of 9.00. In the prior month, Philadelphia Fed manufacturing index had recorded a reading of 12.40.
US initial jobless claims declined unexpectedly in the last week
In the week ended 16 April 2016, the seasonally adjusted initial jobless claims in the US eased unexpectedly to a level of 247.00 K, compared to a reading of 253.00 K in the previous week. Market anticipation was for initial jobless claims to climb to 265.00 K.
US housing price index advanced as expected in February
On a MoM basis, the housing price index registered a rise of 0.40% in the US, in February, compared to a revised similar rise in the prior month. Markets were expecting the housing price index to advance 0.40%.
US continuing jobless claims slid in the last week
The seasonally adjusted continuing jobless claims recorded a drop to 2137.00 K in the US, in the week ended 09 April 2016, lower than market expectations of a fall to 2173.00 K. In the previous week, continuing jobless claims had recorded a revised reading of 2176.00 K.
Japanese supermarket sales dropped in March
In March, on a YoY basis, supermarket sales in Japan fell 0.30%. In the prior month, supermarket sales had climbed 3.40%.
Japanese manufacturing PMI registered an unexpected drop in April
In April, the flash manufacturing PMI in Japan recorded an unexpected drop to a level of 48.00, compared to a reading of 49.10 in the prior month. Market anticipation was for manufacturing PMI to advance to a level of 49.50.
Chinese MNI business sentiment index rose in April
The MNI business sentiment index advanced to 50.50 in China, in April. In the previous month, the MNI business sentiment index had recorded a level of 49.90.
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