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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK average earnings including bonus advanced more than expected in the January-March 2016 period
The average earnings including bonus in the UK climbed 2.00% in the January-March 2016 period on an annual basis, compared to a revised rise of 1.90% in the December-February 2016 period. Markets were expecting the average earnings including bonus to rise 1.70%.
UK average earnings excluding bonus rose less than expected in the January-March 2016 period
In the January-March 2016 period, on a YoY basis, the average earnings excluding bonus in the UK rose 2.10%, less than market expectations for an advance of 2.30%. The average earnings excluding bonus had recorded a rise of 2.20% in the December-February 2016 period.
Employment in the UK registered an unexpected increase in the January-March 2016 period
Employment climbed unexpectedly by 44.00 K in the UK, in the January-March 2016 period, more than market anticipations of a decline of 0.00 K. Employment had recorded an increase of 20.00 K in the December-February 2016 period.
Number of unemployment benefits claimants in the UK slid unexpectedly in April
Number of unemployment benefits claimants recorded an unexpected drop of 2.40 K in the UK, in April, less than market expectations of an advance of 5.00 K. Number of unemployment benefits claimants had recorded a revised gain of 14.70 K in the prior month.
UK ILO unemployment rate steadied in the January-March 2016 period
The ILO unemployment rate remained flat at 5.10% in the UK, in the January-March 2016 period. Markets were expecting the ILO unemployment rate to record a flat reading.
UK claimant count rate fell in April
In the UK, the claimant count rate fell to a level of 2.10% in April, meeting market expectations. In the prior month, the claimant count rate had recorded a revised reading of 2.20%.
Euro-zone core CPI rose as expected in April
On a YoY basis, the final core consumer price index (CPI) climbed 0.70% in April, in the Eurozone, compared to an advance of 1.00% in the previous month. The preliminary figures had also indicated an advance of 0.70%. Market anticipation was for the core CPI to advance 0.70%.
Euro-zone CPI fell as expected in April
The final CPI registered a drop of 0.20% on a YoY basis in April, in the Eurozone, meeting market expectations. The preliminary figures had also recorded a fall of 0.20%. In the prior month, the CPI had recorded a flat reading.
Euro-zone CPI remained unchanged in April
The CPI remained steady on a monthly basis in the Eurozone in April, in line with market expectations. In the previous month, the CPI had risen 1.20%.
US Fed minutes indicate that June rate hike is on the table
According to minutes of the US Federal Open Market Committee’s April 26-27 meeting, most members of the Fed interest-rate setting committee are ready to lift interest rates in June, if incoming data points to stronger second quarter economic growth along with a firming labour market and if inflation progresses toward the committee’s 2.0% objective. The minutes further revealed that some Fed officials were concerned about the upcoming Brexit vote and the unanticipated developments associated with China’s management of its exchange rate.
US mortgage applications fell in the last week
On a weekly basis, mortgage applications fell 1.60% in the US, in the week ended 13 May 2016. Mortgage applications had advanced 0.40% in the prior week.
Canadian investors remained net buyers of foreign securities in the previous month
Canadian investors remained net buyers of C$2.27 billion worth of foreign securities in March, as compared to being net buyers of a revised C$4.37 billion worth of foreign securities in the prior month.
Foreign investors became net buyers of Canadian securities in the previous month
Foreign investors were net buyers of C$17.17 billion worth of Canadian securities in March, from being net buyers of a revised C$15.94 billion worth of Canadian securities in the prior month. Markets were anticipating foreign investors to buy C$10.35 billion worth of Canadian securities.
Japanese housing loans recorded a rise in 1Q 2016
Housing loans in Japan registered a rise of 1.90% in 1Q 2016 on a YoY basis. Housing loans had risen 2.20% in the prior quarter.
Japanese machinery orders advanced surprisingly in March
On a monthly basis in March, machinery orders registered an unexpected rise of 5.50% in Japan, higher than market expectations for a fall of 2.00%. Machinery orders had recorded a drop of 9.20% in the previous month.
Foreign investors turned net buyers of Japanese stocks in the previous week
Foreign investors turned net buyers of ¥71.70 billion worth of Japanese stocks in the week ended 13 May 2016, as compared to being net sellers of a revised ¥435.00 billion worth of Japanese stocks in the previous week.
Japanese machinery orders rose more than expected in March
In Japan, machinery orders climbed 3.20% on an annual basis in March, higher than market expectations for a rise of 0.80%. In the previous month, machinery orders had recorded a drop of 0.70%.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥348.40 billion worth of Japanese bonds in the week ended 13 May 2016, from being net buyers of ¥21.90 billion worth of Japanese bonds in the prior week.
Japanese investors turned net sellers of foreign stocks in the previous week
Japanese investors turned net sellers of ¥152.10 billion worth of foreign stocks in the week ended 13 May 2016, from being net buyers of a revised ¥17.50 billion worth of foreign stocks in the prior week.
Japanese investors remained net buyers of foreign bonds in the previous week
Japanese investors were net buyers of ¥1121.80 billion worth of foreign bonds in the week ended 13 May 2016, from being net buyers of a revised ¥270.20 billion worth of foreign bonds in the previous week.
Chinese MNI business sentiment index fell in May
In May, the MNI business sentiment index in China eased to 50.00, compared to a reading of 50.50 in the prior month.
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