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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CBI trends selling prices declined in June
CBI trends selling prices in the UK dropped to 1.00 in June. In the previous month, CBI trends selling prices had registered a level of 2.00.
UK public sector net borrowing reported a deficit in May
The public sector net borrowing in the UK has reported a deficit of £9.10 billion in May, from a revised deficit of £7.60 billion in the previous month. Market expectation was for public sector net borrowing to show a deficit of £9.40 billion.
UK public sector net cash requirement reported a deficit in May
Public finances (public sector net cash requirement) has posted a deficit of £3.42 billion in May, in the UK, as compared to a revised surplus of £2.04 billion in the prior month.
UK balance of firms reporting total order book above normal recorded an unexpected rise in June
The balance of firms reporting total order book above normal in the UK registered an unexpected rise to a level of -2.00 in June, compared to market expectations of a fall to a level of -10.00. The balance of firms reporting total order book above normal had recorded a reading of -8.00 in the previous month.
UK public sector net borrowing reported a deficit in May
In the UK, the public sector net borrowing (excluding temporary effects of financial interventions) has posted a deficit £9.70 billion in May, from a revised deficit of £8.20 billion in the prior month. Markets were anticipating public sector net borrowing to announce a deficit of £9.50 billion.
Mario Draghi: ECB prepared for Brexit contingencies
The European Central Bank (ECB) President, Mario Draghi, indicated that the central bank is preparing for “all possible contingencies” in the event of a UK vote to leave EU, adding that it is “very difficult” to predict the impact of Brexit on the single currency area.
Euro-zone economic sentiment index rose in June
ZEW Institute has reported that, in June, the economic sentiment index in the Euro-zone advanced to 20.20. In the prior month, the economic sentiment index had recorded a reading of 16.80.
German economic sentiment index registered an unexpected rise in June
In June, the economic sentiment index rose unexpectedly to 19.20 in Germany, compared to market expectations of a drop to 4.80. The economic sentiment index had recorded a level of 6.40 in the prior month.
German current situation index recorded an unexpected rise in June
The current situation index registered an unexpected rise to a level of 54.50 in June, in Germany, compared to market expectations of a fall to a level of 53.00. In the previous month, the current situation index had registered a level of 53.10.
Swiss M3 money supply advanced in May
M3 money supply climbed 2.00% on an annual basis, in May, in Switzerland. In the prior month, M3 money supply had advanced 2.30%.
Swiss trade surplus expanded in May
Trade surplus in Switzerland widened to CHF 3.79 billion in May, from a revised trade surplus of CHF 2.51 billion in the previous month.
Swiss exports dropped in May
Exports slid 0.40% on a monthly basis, in May, in Switzerland. In the previous month, exports had risen by a revised 0.60%.
Swiss imports advanced in May
Imports in Switzerland rose 0.20% on a monthly basis, in May. Imports had registered a revised drop of 3.70% in the prior month.
Fed’s Yellen says cautious monetary policy approach appropriate
In a testimony to the Senate Banking Committee, the Federal Reserve (Fed) Chairwoman, Janet Yellen, justified the central bank’s cautious approach by stating that the US economy continues to face risks given the recent slowdown in the nation’s labour market. However, she assured that headwinds holding back the economy will “slowly fade over time” and further gradual increases in interest rates are likely needed. She further added that a possible “Brexit” vote in Europe could shake up global markets but does not believe that the US would see a “Brexit-induced” recession.
US Redbook index climbed in the last week
On an annual basis, the Redbook index recorded a rise of 0.90% in the US, in the week ended 17 June 2016. In the prior week, the Redbook index had recorded a rise of 0.70%.
US Redbook index dropped in the last week
In the week ended 17 June 2016, on a MoM basis, the seasonally adjusted Redbook index in the US eased 0.90%. The Redbook index had dropped 1.00% in the prior week.
Japanese supermarket sales eased in May
On an annual basis, supermarket sales dropped 1.30% in Japan, in May. In the prior month, supermarket sales had recorded a drop of 0.70%.
Japanese all industry activity index rose more than expected in April
The all industry activity index rose 1.30% on a MoM basis in April, in Japan, compared to a revised advance of 0.20% in the prior month. Market anticipation was for the all industry activity index to climb 1.20%.
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