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Guardian Stockbrokers Key Economic News Wednesday 27 April 2016

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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UK BBA mortgage approvals declined unexpectedly in March

BBA mortgage approvals eased unexpectedly to 45.10 K in March, in the UK, compared to a revised level of 45.65 K in the previous month. Market expectation was for BBA mortgage approvals to rise to a level of 46.50 K.

Italian trade surplus rose in March

In March, (non-EU countries) trade surplus in Italy widened to €4.04 billion. Italy had registered a revised trade surplus of €2.61 billion in the prior month.

US Richmond Fed manufacturing index registered a drop in April

In the US, the Richmond Fed manufacturing index recorded a drop to 14.00 in April, compared to a reading of 22.00 in the prior month. Market anticipation was for the Richmond Fed manufacturing index to ease to a level of 12.00.

US S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas advanced less than expected in February

In February, the S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas in the US rose 5.38% on an annual basis, lower than market expectations for a rise of 5.50%. In the previous month, the S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas had climbed by a revised 5.68%.

US durable goods orders (ex transportation) unexpectedly slid in March

In March, on a monthly basis, the preliminary durable goods orders (ex transportation) unexpectedly eased 0.20% in the US, lower than market expectations for an advance of 0.50%. In the prior month, durable goods orders (ex transportation) had dropped 1.30%.

US Markit services PMI recorded a rise in April

The preliminary Markit services PMI climbed to 52.10 in the US, in April, compared to market expectations of a rise to a level of 52.00. In the previous month, Markit services PMI had registered a reading of 51.30.

US S&P/Case-Shiller home price index recorded a rise in February

In February, the S&P/Case-Shiller home price index recorded a rise to 182.79 in the US, compared to a revised level of 182.44 in the prior month. Market anticipation was for the S&P/Case-Shiller home price index to rise to 182.83.

US non-defence capital goods orders (ex aircraft) remained steady in March

In March, the preliminary non-defence capital goods orders (ex aircraft) in the US remained unchanged on a monthly basis, compared to a drop of 2.50% in the previous month. Markets were expecting the non-defence capital goods orders (ex aircraft) to rise 0.60%.

US Markit composite PMI climbed in April

The preliminary Markit composite PMI in the US climbed to 51.70 in April. In the previous month, Markit composite PMI had recorded a level of 51.30.

US S&P/Case-Shiller composite index of 20 metropolitan areas rose less than expected in February

In February, the seasonally adjusted S&P/Case-Shiller composite index of 20 metropolitan areas in the US, rose 0.66% on a MoM basis, lower than market expectations for a rise of 0.80%. The S&P/Case-Shiller composite index of 20 metropolitan areas had registered a revised rise of 0.79% in the previous month.

US non-defence capital goods shipments (ex aircraft) rose less than expected in March

In March, the flash non-defence capital goods shipments (ex aircraft) in the US rose 0.30% on a MoM basis, less than market expectations for a rise of 0.90%. The non-defence capital goods shipments (ex aircraft) had recorded a drop of 1.70% in the prior month.

US Redbook index slid in the last week

The seasonally adjusted Redbook index fell 3.10% in the US on a MoM basis, in the week ended 22 April 2016. The Redbook index had registered a similar fall in the prior week.

US CB consumer confidence index recorded a drop in April

In April, the CB consumer confidence index eased to 94.20 in the US, compared to a revised reading of 96.10 in the previous month. Market expectation was for the CB consumer confidence index to drop to 95.80.

US durable goods orders rose less than expected in March

The flash durable goods orders in the US advanced 0.80% in March on a MoM basis, compared to a revised fall of 3.10% in the previous month. Markets were anticipating durable goods orders to climb 1.90%.

US Redbook index rose in the last week

In the week ended 22 April 2016, on a YoY basis, the Redbook index advanced 0.80% in the US. The Redbook index had risen 0.50% in the prior week.

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