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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK visible trade deficit dropped in April
Visible trade deficit in the UK narrowed to £10.53 billion in April, compared to market expectations of a visible trade deficit of £11.10 billion. The UK had registered a revised visible trade deficit of £10.65 billion in the prior month.
UK trade deficit dropped in April
The UK has registered non-EU trade deficit of £2.60 billion in April, compared to a revised trade deficit of £2.86 billion in the previous month. Market anticipation was for the nation to record a trade deficit of £3.20 billion.
UK total trade deficit narrowed in April
Total trade deficit in the UK dropped to £3.29 billion in April, from a revised total trade deficit of £3.53 billion in the prior month. Market anticipation was for the nation to record a total trade deficit of £3.70 billion.
ECB’s Draghi stated that the Euro-zone Government must act to help economy grow
The European Central Bank (ECB) President, Mario Draghi, urged European governments to play their part in boosting growth and inflation in the region, warning that the Euro-zone could not rely solely on the central bank’s efforts and needs more action from the government. He further indicated that while structural reforms – such as cutting red tape and making labour markets more flexible – can be politically difficult, they are essential to boost growth and lower unemployment in the region.
German imports surprisingly eased in April
On a monthly basis, the seasonally adjusted imports unexpectedly fell 0.20% in Germany, in April, lower than market expectations for an advance of 1.30%. In the prior month, imports had recorded a drop of 2.30%.
German labour costs registered a rise in 1Q 2016
The working day adjusted labour costs in Germany rose 3.10% in 1Q 2016 on a YoY basis. Labour costs had risen by a revised 2.00% in the prior quarter.
German exports remained flat in April
On a MoM basis, the seasonally adjusted exports in Germany remained steady in April, more than market expectations for a fall of 0.80%. In the previous month, exports had advanced 1.90%.
German trade surplus slid in April
Germany has posted the seasonally adjusted trade surplus of €25.60 billion in April, from a revised trade surplus of €26.20 billion in the prior month. Markets were expecting the nation to post a trade surplus of €22.80 billion.
German labour costs recorded a rise in 1Q 2016
On a quarterly basis, the seasonally adjusted labour costs climbed 1.70% in 1Q 2016, in Germany. Labour costs had climbed 0.50% in the previous quarter.
German current account surplus narrowed in April
Germany has posted the non-seasonally adjusted current account surplus of €28.80 billion in April, from a revised current account surplus of €29.90 billion in the previous month. Markets were anticipating a current account surplus of €21.00 billion.
French non-farm payrolls rose more than expected in 1Q 2016
The final non-farm payrolls rose 0.30% in France on a QoQ basis in 1Q 2016, more than market expectations for an advance of 0.20%. The preliminary figures had recorded an advance of 0.20%. In the previous quarter, non-farm payrolls had registered a rise of 0.20%.
Spanish housing price index climbed in 1Q 2016
The housing price index in Spain registered a rise of 1.50% in 1Q 2016 on a QoQ basis. In the prior quarter, the housing price index had registered a drop of 0.10%.
Swiss unemployment rate remained flat in May
In May, the seasonally adjusted unemployment rate in Switzerland remained unchanged at a level of 3.50%, at par with market expectations.
Swiss unemployment rate recorded a drop in May
The non-seasonally adjusted unemployment rate eased to 3.30% in Switzerland, in May, lower than market expectations of a fall to a level of 3.40%. In the prior month, unemployment rate had registered a level of 3.50%.
US wholesale inventories advanced more than expected in April
The seasonally adjusted wholesale inventories in the US climbed 0.60% on a MoM basis in April, higher than market expectations for an advance of 0.10%. In the prior month, the wholesale inventories had registered a revised rise of 0.20%.
US household wealth recorded a rise in 1Q 2016
Household wealth rose $837.00 billion, in 1Q 2016, in the US. In the previous quarter, household wealth had recorded a revised rise of $2180.00 billion.
US initial jobless claims fell surprisingly in the last week
The seasonally adjusted initial jobless claims in the US recorded an unexpected drop to a level of 264.00 K in the week ended 04 June 2016, compared to a revised level of 268.00 K in the prior week. Markets were anticipating initial jobless claims to rise to 270.00 K.
US continuing jobless claims dropped in the last week
In the week ended 28 May 2016, the seasonally adjusted continuing jobless claims in the US eased to 2095.00 K, lower than market expectations of a drop to 2171.00 K. In the previous week, continuing jobless claims had registered a reading of 2172.00 K.
Canadian new housing price index rose as expected in April
On an annual basis, the new housing price index in Canada advanced 2.10% in April, compared to an advance of 2.00% in the prior month. Markets were anticipating the new housing price index to advance 2.10%.
Canadian new housing price index rose more than expected in April
The new housing price index in Canada registered a rise of 0.30% on a monthly basis in April, higher than market expectations for a rise of 0.20%. In the previous month, the new housing price index had climbed 0.20%.
Canadian capacity utilisation advanced in 1Q 2016
Capacity utilisation advanced to 81.40% in Canada, in 1Q 2016, compared to market expectations of an advance to 81.30%. Capacity utilisation had recorded a revised reading of 80.90% in the previous quarter.
Japanese domestic corporate goods price index declined as expected in May
In May, the domestic corporate goods price index in Japan slid 4.20% on a YoY basis, compared to a similar fall in the prior month. Markets were anticipating the domestic corporate goods price index to ease 4.20%.
Japanese machine tool orders dropped in May
In Japan, the preliminary machine tool orders eased 25.00% in May on an annual basis. Machine tool orders had registered a drop of 26.30% in the prior month.
Japanese domestic corporate goods price index rose more than expected in May
In May, the domestic corporate goods price index in Japan recorded a rise of 0.20% on a monthly basis, compared to a revised drop of 0.40% in the previous month. Market anticipation was for the domestic corporate goods price index to climb 0.10%.
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