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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP rose as expected in 1Q 2016
On a QoQ basis, the flash gross domestic product (GDP) rose 0.40% in 1Q 2016, in the UK, in line with market expectations. In the prior quarter, GDP had risen 0.60%.
UK GDP rose more than expected in 1Q 2016
On an annual basis, the flash GDP advanced 2.10% in 1Q 2016, in the UK, compared to a similar rise in the previous quarter. Market expectation was for GDP to rise 2.00%.
UK index of services rose less than expected in February
The index of services registered a rise of 0.10% in the UK on a monthly basis in February, compared to a revised similar rise in the previous month. Market expectation was for the index of services to rise 0.20%.
UK index of services rose less than expected in February
In February, on a MoM basis, the index of services in the UK climbed 0.70%, compared to an advance of 0.90% in the November-January 2016 period. Market expectation was for the index of services to climb 0.80%.
UK CBI distributive trade survey’s retail sales balance recorded a surprise drop in April
In April, the CBI distributive trade survey’s retail sales balance dropped unexpectedly to 13.00% in the UK, lower than market expectations of a rise to a level of 13.00%. The CBI distributive trade survey’s retail sales balance had registered a reading of 7.00% in the prior month.
Euro-zone M3 money supply advanced as expected in March
In March, M3 money supply rose 5.00% on an annual basis in the Euro-zone, meeting market expectations. M3 money supply had registered a similar rise in the previous month.
Euro-zone private sector loans advanced less than expected in March
Private sector loans in the Euro-zone registered a rise of 1.60% in March on an annual basis, compared to a similar rise in the prior month. Markets were anticipating private sector loans to rise 1.70%.
Euro-zone three-month average of M3 money supply advanced in the January-March 2016 period
In the Euro-zone, the three-month average of M3 money supply registered a rise of 5.00% on a YoY basis, in the January-March 2016 period. In the December-February 2016 period, the three-month average of M3 money supply had advanced 4.90%.
German consumer confidence index advanced unexpectedly in May
In May, the consumer confidence index in Germany registered an unexpected rise to 9.70, compared to market expectations of an unchanged reading. The consumer confidence index had registered a reading of 9.40 in the prior month.
German import price index fell less than expected in March
On a YoY basis, the import price index eased 5.90% in March, in Germany, less than market expectations for a drop of 6.20%. The import price index had recorded a drop of 5.70% in the previous month.
German import price index rose more than expected in March
In March, on a monthly basis, the import price index recorded a rise of 0.70% in Germany, higher than market expectations for an advance of 0.30%. In the previous month, the import price index had dropped 0.60%.
French consumer confidence remained flat in April
In France, consumer confidence remained unchanged at 94.00 in April. Markets were expecting consumer confidence to advance to 95.00.
Italian consumer confidence index declined surprisingly in April
Compared to a revised reading of 114.90 in the previous month the consumer confidence index eased unexpectedly to a level of 114.20 in Italy, in April. Market anticipation was for the consumer confidence index to advance to 115.00.
Italian business confidence index climbed in April
In Italy, the business confidence index recorded a rise to 102.70 in April, compared to market expectations of a rise to a level of 102.50. In the prior month, the business confidence index had registered a reading of 102.20.
Spanish retail sales advanced more than expected in March
On an annual basis, retail sales climbed 4.40% in March, in Spain, higher than market expectations for an advance of 3.40%. Retail sales had advanced 3.90% in the previous month.
Swiss UBS consumption indicator advanced in March
In March, UBS consumption indicator in Switzerland climbed to 1.51, compared to a revised reading of 1.45 in the previous month.
US Fed keeps interest rate steady
The US Federal Reserve (Fed) left interest rates unchanged and gave no clear direction on future moves. In a statement that largely mirrored the one issued after its last policy meeting in March, the central bank’s rate-setting committee described an improving labor market but acknowledged that economic growth seemed to have slowed. While it held back on its previous warnings about risks to US growth from the world economy, the Fed insisted that it would continue to closely monitor inflation indicators and global economic and financial developments closely.
US pending home sales rose more than expected in March
Pending home sales recorded a rise of 1.40% in the US on a MoM basis in March, more than market expectations for an advance of 0.50%. In the prior month, pending home sales had climbed by a revised 3.40%.
US mortgage applications fell in the last week
Mortgage applications in the US slid 4.10% on a weekly basis, in the week ended 22 April 2016. Mortgage applications had risen 1.30% in the previous week.
US pending home sales advanced more than expected in March
On an annual basis, pending home sales in the US climbed 2.90% in March, higher than market expectations for an advance of 0.80%. Pending home sales had recorded a revised rise of 5.00% in the previous month.
BoJ surprises with unchanged policy
The Bank of Japan (BoJ) kept monetary policy unchanged, with rates at -0.1% and maintained its pledge to increase base money, or cash and deposits in circulation, at an annual pace of ¥80 trillion. The bank announced a loan support program worth ¥300 billion for banks in areas hit by the recent earthquake.
Japanese industrial production rose surprisingly in March
The preliminary industrial production unexpectedly rose 0.10% on a YoY basis in March, in Japan, higher than market expectations for a fall of 1.60%. Industrial production had registered a drop of 1.20% in the previous month.
Japanese unemployment rate fell unexpectedly in March
In Japan, unemployment rate registered an unexpected drop to a level of 3.20% in March, lower than market expectations of a steady reading. In the prior month, unemployment rate had recorded a reading of 3.30%.
Japanese vehicle production climbed in March
On an annual basis, vehicle production advanced 1.20% in Japan, in March. Vehicle production had fallen 6.90% in the previous month.
Japanese retail trade fell less than expected in March
On a YoY basis, retail trade fell 1.10% in Japan, in March, less than market expectations for a fall of 1.40%. Retail trade had risen by a revised 0.40% in the previous month.
Japanese small business confidence index fell in April
The small business confidence index recorded a drop to 47.80 in Japan, in April, compared to a level of 48.80 in the previous month. Markets were expecting the small business confidence index to drop to a level of 48.50.
Japanese retail trade rose more than expected in March
In March, retail trade climbed 1.40% in Japan on a MoM basis, compared to a drop of 2.30% in the prior month. Markets were anticipating retail trade to climb 0.50%.
Japanese National CPI ex-food, energy rose less than expected in March
In March, on a YoY basis, National CPI ex-food, energy recorded a rise of 0.70% in Japan, compared to an advance of 0.80% in the previous month. Markets were anticipating National CPI ex-food, energy to advance 0.80%.
Japanese Tokyo CPI fell more than expected in April
On a YoY basis, Tokyo consumer price index (CPI) in Japan recorded a drop of 0.40% in April, more than market expectations for a drop of 0.20%. Tokyo CPI had fallen 0.10% in the prior month.
Japanese job to applicant ratio registered an unexpected rise in March
In March, job to applicant ratio rose unexpectedly to a level of 1.30 in Japan, higher than market expectations of a steady reading. In the previous month, job to applicant ratio had recorded a reading of 1.28.
Japanese Tokyo CPI excluding fresh food fell as expected in April
On a YoY basis, Tokyo CPI excluding fresh food slid 0.30% in Japan, in April, in line with market expectations. Tokyo CPI excluding fresh food had registered a similar fall in the prior month.
Japanese National CPI ex-fresh food declined more than expected in March
In March, National CPI ex-fresh food in Japan, recorded a drop of 0.30% on an annual basis, more than market expectations for a fall of 0.20%. National CPI ex-fresh food had recorded a flat reading in the prior month.
Japanese national CPI surprisingly fell in March
In March, the national CPI unexpectedly eased 0.10% on a YoY basis in Japan, lower than market expectations for an unchanged reading. The national CPI had risen 0.30% in the previous month.
Japanese industrial production rose more than expected in March
The flash industrial production registered a rise of 3.60% on a monthly basis in Japan, in March, compared to a fall of 5.20% in the prior month. Markets were anticipating industrial production to rise 2.80%.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors were net buyers of ¥984.70 billion worth of foreign bonds in the week ended 22 April 2016, from being net buyers of a revised ¥843.00 billion worth of foreign bonds in the previous week.
Japanese investors turned net buyers of foreign stocks in the previous week
Japanese investors turned net buyers of ¥20.90 billion worth of foreign stocks in the week ended 22 April 2016, as compared to being net sellers of ¥503.40 billion worth of foreign stocks in the prior week.
Foreign investors became net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥411.20 billion worth of Japanese bonds in the week ended 22 April 2016, from being net buyers of ¥770.90 billion worth of Japanese bonds in the previous week.
Foreign investors became net buyers of Japanese stocks in the previous week
Foreign investors remained net buyers of ¥602.00 billion worth of Japanese stocks in the week ended 22 April 2016, as compared to being net buyers of ¥538.60 billion worth of Japanese stocks in the previous week.
Japanese Tokyo CPI excluding food and energy advanced more than expected in April
In April, on an annual basis, Tokyo CPI excluding food and energy in Japan rose 0.60%, more than market expectations for an advance of 0.50%. Tokyo CPI excluding food and energy had registered a similar rise in the prior month.
Japanese all industry activity index fell less than expected in February
On a monthly basis, the all industry activity index recorded a drop of 1.20% in Japan, in February, less than market expectations for a drop of 1.30%. The all industry activity index had registered a revised rise of 1.20% in the prior month.
Japanese household spending dropped more than expected in March
Household spending fell 5.30% on an annual basis in Japan, in March, compared to a rise of 1.20% in the previous month. Market expectation was for household spending to drop 4.10%.
Japanese large retailer’s sales declined more than expected in March
Large retailer’s sales in Japan dropped 1.20% in March on a monthly basis, compared to a rise of 2.20% in the prior month. Market anticipation was for large retailer’s sales to ease 0.90%.
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