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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK official reserves declined in May
Official reserves eased $1168.00 million in the UK, in May. Official reserves had risen $728.00 million in the previous month.
UK services PMI rose in May
The services PMI registered a rise to 53.50 in May, in the UK, compared to market expectations of an advance to a level of 52.50. In the prior month, the services PMI had registered a level of 52.30.
Euro-zone retail sales remained steady in April
On a monthly basis, the seasonally adjusted retail sales remained steady in April, in the Euro-zone, compared to a revised fall of 0.60% in the previous month. Market expectation was for retail sales to rise 0.40%.
Euro-zone composite PMI unexpectedly advanced in May
The final composite PMI climbed unexpectedly to a level of 53.10 in the Euro-zone, in May, higher than market expectations of a fall to a level of 52.90. The preliminary figures had recorded a fall to 52.90. In the previous month, composite PMI had registered a level of 53.00.
Euro-zone services PMI advanced unexpectedly in May
In May, the final services PMI in the Euro-zone recorded an unexpected rise to 53.30, compared to market expectations of a steady reading. The preliminary figures had indicated a steady reading. In the previous month, services PMI had registered a reading of 53.10.
German services PMI climbed in May
The final services PMI climbed to 55.20 in May, in Germany, compared to a reading of 54.50 in the previous month. Markets were anticipating services PMI to rise to a level of 55.20. The preliminary figures had also indicated an advance to 55.20.
French services PMI registered a rise in May
The final services PMI recorded a rise to 51.60 in France, in May, lower than market expectations of a rise to a level of 51.80. Services PMI had registered a level of 50.60 in the previous month. The preliminary figures had indicated a rise to 51.80.
Italian services PMI recorded a decline in May
The services PMI fell to a level of 49.80 in Italy, in May, compared to market expectations of a drop to 51.50. The services PMI had recorded a reading of 52.10 in the previous month.
Spanish services PMI unexpectedly climbed in May
In May, the services PMI in Spain rose unexpectedly to a level of 55.40, compared to a reading of 55.10 in the previous month. Markets were expecting the services PMI to drop to 54.00.
Fed member, Lael Brainard urged caution on raising interest rates
The Federal Open Market Committee (FOMC) member, Lael Brainard, warned that the US Federal Reserve (Fed) should be in no hurry to increase interest rates, after the recent employment report indicated that the nation’s labour market has slowed. She further suggested that the central bank should wait until economic developments provide greater confidence.
Non-farm payrolls in the US rose in May
In the US, non-farm payrolls registered a rise of 38.00 K in May, compared to market expectations of an advance of 160.00 K. Non-farm payrolls had recorded a revised gain of 123.00 K in the previous month.
US average weekly hours of all employees remained flat in May
Average weekly hours of all employees remained unchanged at a level of 34.40 in May, in the US. Markets were expecting average weekly hours of all employees to rise to 34.50.
US non-defense capital goods orders (ex aircraft) fell in April
The final non-defense capital goods orders (ex aircraft) slid 0.60% on a MoM basis, in April, in the US. The non-defense capital goods orders (ex aircraft) had dropped by a revised 0.10% in the previous month. The preliminary figures had indicated a fall of 0.80%.
US non-defense capital goods shipments (ex aircraft) recorded a rise in April
In April, on a monthly basis, the final non-defense capital goods shipments (ex aircraft) rose 0.40% in the US. In the previous month, the non-defense capital goods shipments (ex aircraft) had registered a revised drop of 0.30%. The preliminary figures had recorded a rise of 0.30%.
US average hourly earnings of all employees rose as expected in May
On a YoY basis, average hourly earnings of all employees in the US rose 2.50% in May, compared to a similar rise in the previous month. Markets were expecting average hourly earnings of all employees to climb 2.50%.
US durable goods orders advanced in April
In the US, the final durable goods orders climbed 3.40% in April, on a monthly basis. Durable goods orders had advanced by a revised 1.90% in the prior month. The preliminary figures had also indicated a rise of 3.40%.
US Markit services PMI slid in May
In May, the final Markit services PMI eased to 51.30 in the US, compared to a level of 52.80 in the prior month. The preliminary figures had indicated a drop to 51.20. Market expectation was for Markit services PMI to ease to a level of 51.40.
US Markit composite PMI dropped in May
In the US, the final Markit composite PMI fell to a level of 50.90 in May, compared to a reading of 52.40 in the previous month. The preliminary figures had recorded a drop to 50.80.
US non-manufacturing PMI registered a drop in May
The non-manufacturing PMI eased to 52.90 in the US, in May, compared to a level of 55.70 in the prior month. Market expectation was for the non-manufacturing PMI to ease to a level of 55.30.
Private payrolls in the US recorded a rise in May
Private payrolls in the US climbed by 25.00 K in May, following a revised increase of 130.00 K in the previous month. Markets were anticipating private payrolls to advance 150.00 K.
US trade deficit expanded in April
In April, trade deficit in the US expanded to $37.40 billion, from a revised trade deficit of $35.50 billion in the previous month. Market expectation was for the nation to record a trade deficit of $41.00 billion.
US durable goods orders (ex transportation) advanced in April
The final durable goods orders (ex transportation) in the US recorded a rise of 0.50% on a monthly basis, in April. Durable goods orders (ex transportation) had risen by a revised 0.10% in the prior month. The preliminary figures had recorded a rise of 0.40%.
Manufacturing payrolls in the US eased in May
Manufacturing payrolls eased by 10.00 K in the US, in May, compared to market expectations of a decline of 2.00 K. Manufacturing payrolls had registered a revised gain of 2.00 K in the prior month.
US factory orders rose as expected in April
Factory orders recorded a rise of 1.90% on a MoM basis in the US, in April, compared to a revised advance of 1.70% in the prior month. Markets were anticipating factory orders to climb 1.90%.
US unemployment rate slid in May
In May, unemployment rate eased to 4.70% in the US, compared to market expectations of a drop to 4.90%. In the previous month, unemployment rate had registered a level of 5.00%.
Household employment in the US registered a rise in May
Household employment rose by 26.00 K in the US, in May, compared to a decline of 316.00 K in the previous month.
US underemployment rate remained steady in May
Underemployment rate remained unchanged at 9.70% in the US, in May.
US average hourly earnings of all employees advanced as expected in May
Average hourly earnings of all employees in the US climbed 0.20% in May on a monthly basis, meeting market expectations. Average hourly earnings of all employees had advanced by a revised 0.40% in the previous month.
Canadian international merchandise trade deficit fell in April
The international merchandise trade deficit in Canada fell to C$2.94 billion in April, compared to a revised international merchandise trade deficit of C$3.18 billion in the previous month. Market anticipation was for the nation’s international merchandise trade deficit to drop to C$2.50 billion.
Canadian labor productivity advanced as expected in 1Q 2016
In 1Q 2016, on a quarterly basis, labor productivity climbed 0.40% in Canada, in line with market expectations. In the previous quarter, labor productivity had registered a revised unchanged reading.
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