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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK new car registrations rose in May
In May, on an annual basis, new car registrations in the UK recorded a rise of 2.50%. New car registrations had advanced 2.00% in the prior month.
UK retail sales across all sectors rose more than expected in May
In the UK, retail sales across all sectors recorded a rise of 0.50% in May, on a YoY basis, more than market expectations for an advance of 0.30%. In the previous month, retail sales across all sectors had fallen 0.90%.
Euro-zone investor confidence index advanced in June
In June, the investor confidence index rose to a level of 9.90 in the Euro-zone, higher than market expectations of an advance to 7.00. In the previous month, the investor confidence index had recorded a level of 6.20.
German factory orders dropped more than expected in April
The seasonally adjusted factory orders slid 2.00% on a monthly basis in Germany, in April, compared to a revised rise of 2.60% in the prior month. Market anticipation was for factory orders to ease 0.50%.
German factory orders recorded an unexpected drop in April
The non-seasonally adjusted factory orders in Germany unexpectedly fell 0.50% on a YoY basis in April, lower than market expectations for a rise of 0.60%. In the previous month, factory orders had recorded a revised rise of 2.40%.
Fed’s Yellen sees rate hikes ahead, but timeframe remains murky
The US Fed Chairwoman, Janet Yellen, gave a largely upbeat assessment of the US economic outlook and said interest rate hikes are coming, but stepped back from allotting a time frame. She further indicated that although the recent US employment report was “disappointing”, one should not give too much significance to a single monthly report and assured that she expects the positive economic forces to outweigh the negatives.
Japanese foreign exchange reserves recorded a drop in May
In May, foreign exchange reserves in Japan dropped to $1254.00 billion, compared to a reading of $1262.50 billion in the previous month.
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