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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK new car registrations registered a rise in April
In April, on a YoY basis, new car registrations in the UK registered a rise of 2.00%. New car registrations had recorded a rise of 5.30% in the prior month.
Spanish calendar adjusted industrial output rose more than expected in March
The calendar adjusted industrial output in Spain rose 2.80% in March on an annual basis, more than market expectations for a rise of 1.50%. The calendar adjusted industrial output had recorded a revised rise of 2.10% in the previous month.
Swiss foreign currency reserves climbed in April
Foreign currency reserves recorded a rise to CHF 587.60 billion in Switzerland, in April, compared to a revised reading of CHF 576.50 billion in the previous month.
William Dudley believes that Fed’s on the right track
The New York Federal Reserve (Fed) President, William Dudley, a voting member of the Fed’s policy committee, indicated that while the US April job market report was “a touch softer” than people were expecting, he was not putting a lot of weight on the data He further added that it remained a “reasonable expectation” that the Fed would increase its benchmark interest rate two times this year.
US average hourly earnings of all employees advanced as expected in April
On a monthly basis, average hourly earnings of all employees in the US recorded a rise of 0.30% in April, compared to a revised rise of 0.20% in the previous month. Markets were expecting average hourly earnings of all employees to advance 0.30%.
US average weekly hours of all employees climbed in April
Average weekly hours of all employees in the US rose to a level of 34.50 in April, in line with market expectations. In the prior month, average weekly hours of all employees had registered a level of 34.40.
Household employment in the US unexpectedly dropped in April
In the US, household employment dropped unexpectedly by 316.00 K in April, less than market anticipations of an advance of 170.00 K. Household employment had recorded a gain of 246.00 K in the previous month.
Non-farm payrolls in the US registered a rise in April
Non-farm payrolls in the US climbed by 160.00 K in April, following a revised gain of 208.00 K in the previous month. Market anticipation was for non-farm payrolls to rise 200.00 K.
US underemployment rate registered a drop in April
In April, underemployment rate in the US registered a drop to 9.70%, compared to a reading of 9.80% in the previous month.
US average hourly earnings of all employees advanced more than expected in April
On an annual basis in the US, average hourly earnings of all employees advanced 2.50% in April, compared to a rise of 2.30% in the prior month. Market anticipation was for average hourly earnings of all employees to advance 2.40%.
Manufacturing payrolls in the US recorded an unexpected increase in April
In the US, manufacturing payrolls registered an unexpected increase of 4.00 K in April, higher than market anticipations of a decline of 5.00 K. Manufacturing payrolls had recorded a loss of 29.00 K in the previous month.
US unemployment rate remained unchanged in April
Unemployment rate remained flat at a level of 5.00% in the US, in April, compared to market expectations of a drop to a level of 4.90%.
US consumer credit rose more than expected in March
In the US, consumer credit registered a rise of $29.67 billion in March, compared to a revised advance of $14.15 billion in the prior month. Market expectation was for consumer credit to climb $16.00 billion.
Private payrolls in the US recorded an increase in April
Private payrolls advanced by 171.00 K in the US, in April, lower than market anticipations of an advance of 195.00 K. Private payrolls had recorded a revised increase of 184.00 K in the previous month.
Canadian participation rate recorded a drop in April
The participation rate recorded a drop to 65.80% in Canada, in April, compared to a level of 65.90% in the prior month.
Number of full time employment in Canada fell in April
The number of full time employment registered a drop of 2.40 K in Canada, in April, compared to a gain of 35.30 K in the prior month.
Net number of people employed in Canada recorded an unexpected drop in April
The net number of people employed in Canada recorded an unexpected drop of 2.10 K in April, following an advance of 40.60 K in the previous month. Markets were expecting the net number of people employed to rise 1.00 K.
Canadian unemployment rate steadied in April
The unemployment rate in Canada remained unchanged at a level of 7.10% in April. Markets were expecting the unemployment rate to rise to a level of 7.20%.
Canadian Ivey PMI registered a rise in April
In April, the seasonally adjusted Ivey PMI advanced to 53.10 in Canada, compared to a level of 50.10 in the prior month. Markets were anticipating Ivey PMI to climb to 52.30.
Part time employment in Canada climbed in April
Part time employment advanced by 0.40 K in Canada, in April, compared to an increase of 5.30 K in the prior month.
Canadian Ivey PMI dropped in April
In April, the non-seasonally adjusted Ivey PMI in Canada dropped to 50.60. In the previous month, Ivey PMI had registered a reading of 57.90.
BoJ Monetary policy meeting minutes indicates that central bank concerned about weak inflation
Minutes of the Bank of Japan’s (BoJ) March 14-15 policy meeting, revealed that policymakers agreed that the country’s economy was recovering, but some warned of a sharp weakening of consumer sentiment and a slowdown in consumer inflation. The members added that there remains a number of downside risks and that Japanese exports have been sluggish, although domestic demand is expected to continue its upward trend. At the meeting, the board members decided to hold their target of raising the monetary base at an annual pace of about ¥80 trillion. They also voted to maintain the -0.1% interest rate.
Japanese labour cash earnings advanced more than expected in March
Labour cash earnings climbed 1.40% in Japan on an annual basis in March, compared to a revised rise of 0.70% in the previous month. Markets were anticipating labour cash earnings to advance 0.60%.
Chinese trade surplus expanded in April
China has posted trade surplus of $45.56 billion in April, following a trade surplus of $29.86 billion in the prior month. Market expectation was for a trade surplus of $40.00 billion.
Chinese imports dropped more than expected in April
In China, imports recorded a drop of 10.90% on a YoY basis in April, higher than market expectations for a fall of 4.00%. In the previous month, imports had dropped 7.60%.
Chinese exports surprisingly dropped in April
In April, on an annual basis, exports in China unexpectedly eased 1.80%, compared to a rise of 11.50% in the previous month. Market expectation was for exports to remain flat.
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