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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK consumer credit advanced in April
In the UK, seasonally adjusted consumer credit rose £21.69 billion in April. In the previous month, consumer credit had advanced by a revised £21.44 billion.
UK M4 money supply rose in April
In April, on a YoY basis, M4 money supply in the UK recorded a rise of 1.00%. In the previous month, M4 money supply had risen 1.60%.
UK manufacturing PMI advanced in May
The manufacturing PMI advanced to 50.10 in the UK, in May, compared to market expectations of a rise to a level of 49.60. In the previous month, the manufacturing PMI had recorded a revised reading of 49.40.
UK number of mortgage approvals for house purchases eased in April
In April, number of mortgage approvals for house purchases in the UK recorded a drop to 66.30 K, lower than market expectations of a drop to 67.90 K. Number of mortgage approvals for house purchases had registered a revised reading of 70.30 K in the prior month.
UK M4 Ex-IOFCs 3M annualised registered a rise in April
M4 Ex-IOFCs 3M annualised advanced 4.10% in the UK on a MoM basis, in April. M4 Ex-IOFCs 3M annualised had risen by a revised 6.40% in the prior month.
UK net consumer credit advanced less than expected in April
In April, net consumer credit in the UK, registered a rise of £1.30 billion, lower than market expectations for an advance of £1.60 billion. Net consumer credit had registered a revised rise of £1.80 billion in the previous month.
UK house prices rose less than expected in May
The seasonally adjusted house prices in the UK recorded a rise of 0.20% in May on a MoM basis, lower than market expectations for a rise of 0.30%. In the prior month, house prices had registered a similar rise.
UK house prices rose less than expected in May
On an annual basis in May, the non-seasonally adjusted house prices climbed 4.70% in the UK, less than market expectations for an advance of 4.80%. In the previous month, house prices had risen 4.90%.
UK M4 money supply slid in April
M4 money supply registered a drop of 0.10% in the UK on a MoM basis, in April. In the previous month, M4 money supply had dropped 0.40%.
UK net lending secured on dwellings advanced less than expected in April
Net lending secured on dwellings registered a rise of £0.30 billion in the UK, in April, less than market expectations for a rise of £3.80 billion. Net lending secured on dwellings had risen £7.40 billion in the prior month.
Euro-zone manufacturing PMI remained flat in May
In May, the final manufacturing PMI in the Euro-zone came in at 51.50, at par with market expectations. In the prior month, the manufacturing PMI had recorded a reading of 51.50.
German manufacturing PMI advanced in May
The final manufacturing PMI in Germany advanced to 52.10 in May, compared to market expectations of an advance to a level of 52.40. The preliminary figures had recorded an advance to 52.40. In the prior month, manufacturing PMI had registered a reading of 51.80.
French manufacturing PMI advanced in May
In May, the final manufacturing PMI climbed to 48.40 in France, compared to market expectations of a rise to 48.30. The preliminary figures had recorded an advance to 48.30. In the prior month, manufacturing PMI had registered a level of 48.00.
Italian manufacturing PMI recorded a drop in May
In May, the manufacturing PMI in Italy recorded a drop to 52.40, compared to a reading of 53.90 in the previous month. Markets were expecting the manufacturing PMI to fall to 53.00.
Spanish manufacturing PMI declined in May
In May, the manufacturing PMI registered a drop to 51.80 in Spain, compared to market expectations of a drop to a level of 52.50. In the previous month, the manufacturing PMI had registered a level of 53.50.
Swiss GDP advanced less than expected in 1Q 2016
Gross domestic product (GDP) rose 0.70% on a YoY basis in 1Q 2016, in Switzerland, compared to a revised advance of 0.30% in the previous quarter. Market anticipation was for GDP to rise 0.90%.
Swiss SVME manufacturing PMI rose surprisingly in May
In Switzerland, the SVME manufacturing PMI recorded an unexpected rise to 55.80 in May, compared to a reading of 54.70 in the prior month. Markets were anticipating the SVME manufacturing PMI to drop to 54.00.
Swiss real retail sales registered a drop in April
Real retail sales eased 1.90% on a YoY basis in Switzerland, in April. Real retail sales had registered a revised drop of 1.60% in the prior month.
Swiss GDP advanced less than expected in 1Q 2016
The seasonally adjusted GDP rose 0.10% in Switzerland on a quarterly basis in 1Q 2016, compared to a rise of 0.40% in the prior quarter. Markets were expecting GDP to climb 0.30%.
Fed’s Beige Book cited modest growth in US economy
The US Federal Reserve’s (Fed) Beige Book report indicated that most of the regions in the US economy were growing only modestly during the April-May period. However, the report noted that the nation’s labor market continued to tighten, as employers added more jobs and pushed wages higher.
US ISM new orders dropped in May
ISM new orders in the US registered a drop to 55.70 in May. In the prior month, ISM new orders had registered a reading of 55.80.
US Redbook index rose in the last week
In the US, the Redbook index registered a rise of 0.90% in the week ended 27 May 2016 on a YoY basis. The Redbook index had advanced 0.40% in the previous week.
US ISM production declined in May
ISM production in the US recorded a drop to 52.60 in May. In the previous month, ISM production had recorded a level of 54.20.
US construction spending registered an unexpected drop in April
On a MoM basis in April, construction spending unexpectedly eased 1.80% in the US, less than market expectations for a rise of 0.60%. In the prior month, construction spending had advanced by a revised 1.50%.
US ISM prices paid index advanced unexpectedly in May
The ISM prices paid index registered an unexpected rise to 63.50 in May, in the US, compared to a reading of 59.00 in the prior month. Markets were expecting the ISM prices paid index to fall to a level of 58.50.
US Redbook index advanced in the last week
The seasonally adjusted Redbook index rose 2.20% in the US on a monthly basis, in the week ended 27 May 2016. In the previous week, the Redbook index had risen 2.10%.
US ISM backlog orders registered a drop in May
ISM backlog orders in the US eased to 47.00 in May. In the prior month, ISM backlog orders had recorded a reading of 50.50.
US ISM manufacturing activity index registered an unexpected rise in May
In the US, the ISM manufacturing activity index registered an unexpected rise to a level of 51.30 in May, higher than market expectations of a fall to 50.30. The ISM manufacturing activity index had recorded a level of 50.80 in the previous month.
US mortgage applications dropped in the last week
On a weekly basis, mortgage applications recorded a drop of 4.10% in the week ended 27 May 2016, in the US. Mortgage applications had recorded a rise of 2.30% in the previous week.
US Markit manufacturing PMI recorded a drop in May
The final Markit manufacturing PMI in the US recorded a drop to 50.70 in May, compared to market expectations of a drop to 50.50. The preliminary figures had indicated a drop to 50.50. In the prior month, the Markit manufacturing PMI had registered a level of 50.80.
US ISM inventories dropped in May
In May, ISM inventories eased to 45.00 in the US, compared to a level of 45.50 in the prior month.
Japanese investors turned net sellers of foreign bonds in the previous week
Japanese investors turned net sellers of ¥549.40 billion worth of foreign bonds in the week ended 27 May 2016, as compared to being net buyers of a revised ¥683.00 billion worth of foreign bonds in the prior week.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥68.00 billion worth of Japanese bonds in the week ended 27 May 2016, from being net buyers of ¥492.00 billion worth of Japanese bonds in the previous week.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors remained net buyers of ¥124.90 billion worth of foreign stocks in the week ended 27 May 2016, as compared to being net buyers of ¥182.30 billion worth of foreign stocks in the previous week.
Japanese vehicle sales rose in May
Vehicle sales rose 6.60% on an annual basis in Japan, in May. Vehicle sales had recorded a rise of 7.20% in the prior month.
Foreign investors turned net sellers of Japanese stocks in the previous week
Foreign investors turned net sellers of ¥175.30 billion worth of Japanese stocks in the week ended 27 May 2016, from being net buyers of a revised ¥40.70 billion worth of Japanese stocks in the prior week.
Japanese monetary base climbed in May
In Japan, the monetary base advanced 25.50% in May on an annual basis. In the previous month, the monetary base had registered a rise of 26.80%.
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