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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK public sector net borrowing reported a surplus in January
The public sector net borrowing has reported a surplus £9.80 billion in January, in the UK, from a revised deficit of £4.20 billion in the previous month. Markets were anticipating public sector net borrowing to show a surplus of £14.40 billion.
UK public sector net borrowing reported a surplus in January
The public sector net borrowing (excluding temporary effects of financial interventions) has posted a surplus £9.40 billion in January, in the UK, as compared to a revised deficit of £4.70 billion in the previous month. Market expectation was for public sector net borrowing to announce a surplus of £14.00 billion.
UK public sector net cash requirement posted a surplus in January
Public finances (public sector net cash requirement) has posted a surplus of £26.50 billion in January, in the UK, as compared to a deficit of £36.29 billion in the previous month.
Euro-zone composite PMI rose surprisingly in February
In the Euro-zone, the flash composite PMI recorded an unexpected rise to 56.00 in February, higher than market expectations of a fall to a level of 54.30. In the prior month, composite PMI had recorded a level of 54.40.
Euro-zone manufacturing PMI rose unexpectedly in February
The preliminary manufacturing PMI in the Euro-zone climbed unexpectedly to a level of 55.50 in February, compared to a reading of 55.20 in the prior month. Market expectation was for the manufacturing PMI to drop to a level of 55.00.
Euro-zone services PMI surprisingly advanced in February
The flash services PMI advanced unexpectedly to a level of 55.60 in February, in the Euro-zone, compared to a level of 53.70 in the prior month. Market anticipation was for services PMI to record a flat reading.
German manufacturing PMI advanced unexpectedly in February
In February, the preliminary manufacturing PMI climbed unexpectedly to a level of 57.00 in Germany, compared to a reading of 56.40 in the prior month. Market expectation was for manufacturing PMI to ease to 56.00.
German services PMI advanced in February
The flash services PMI in Germany recorded a rise to 54.40 in February, compared to a reading of 53.40 in the prior month. Markets were expecting services PMI to climb to 53.60.
French EU normalized CPI declined more than expected in January
The final EU normalised consumer price index (CPI) fell 0.30% on a monthly basis in January, in France, more than market expectations for a drop of 0.20%. In the prior month, EU normalised CPI had risen 0.30%. The preliminary figures had recorded a drop of 0.20%.
French manufacturing PMI slid in February
In February, the preliminary manufacturing PMI registered a drop to 52.30 in France, compared to a level of 53.60 in the previous month. Markets were anticipating manufacturing PMI to drop to a level of 53.50.
French services PMI climbed surprisingly in February
In February, the preliminary services PMI in France recorded an unexpected rise to 56.70, higher than market expectations of a fall to a level of 53.90. Services PMI had registered a level of 54.10 in the prior month.
French CPI (ex-tobacco) advanced less than expected in January
On a YoY basis, the final CPI (ex-tobacco) rose 1.30% in January, in France, lower than market expectations for a rise of 1.40%. The CPI (ex-tobacco) had climbed 0.60% in the previous month. The preliminary figures had indicated an advance of 1.40%.
French CPI (ex-tobacco) declined as expected in January
In France, the final CPI (ex-tobacco) slid 0.20% in January, on a monthly basis, at par with market expectations. In the previous month, the CPI (ex-tobacco) had recorded a rise of 0.30%. The preliminary figures had also indicated a drop of 0.20%.
Swiss M3 money supply rose in January
M3 money supply in Switzerland registered a rise of 2.90% on a YoY basis, in January. M3 money supply had climbed 3.00% in the prior month.
Swiss imports dropped in January
In Switzerland, imports registered a drop of 5.30% in January on a monthly basis. In the previous month, imports had fallen by a revised 0.60%.
Swiss trade surplus rose in January
Trade surplus in Switzerland rose to CHF 4.73 billion in January, from a revised trade surplus of CHF 2.69 billion in the previous month.
Swiss exports dropped in January
In Switzerland, exports fell 4.00% on a MoM basis, in January. In the previous month, exports had risen by a revised 9.70%.
Fed’s Harker indicated that he could back a March interest rate hike
The Federal Reserve (Fed) Bank of Philadelphia President, Patrick Harker, reiterated that he sees three rate hikes in 2017. He further added that he would support an interest rate increase at a mid-March policy meeting if inflation, output and other data until then continue to show that the US economy is growing.
US Markit composite PMI slid in February
In the US, the flash Markit composite PMI eased to 54.30 in February. In the prior month, Markit composite PMI had registered a level of 55.80.
US Markit services PMI dropped surprisingly in February
The preliminary Markit services PMI recorded an unexpected drop to 53.90 in February, in the US, compared to market expectations of a rise to 55.80. In the prior month, Markit services PMI had registered a reading of 55.60.
US Markit manufacturing PMI eased unexpectedly in February
The flash Markit manufacturing PMI fell unexpectedly to 54.30 in the US, in February, lower than market expectations of an advance to 55.40. In the prior month, the Markit manufacturing PMI had registered a reading of 55.00.
Japanese nationwide department store sales fell in January
Nationwide department store sales registered a drop of 1.20% on a YoY basis in Japan, in January. Nationwide department store sales had registered a drop of 1.70% in the prior month.
Japanese Tokyo department store sales eased in January
Tokyo department store sales registered a drop of 1.50% on an annual basis, in January, in Japan. Tokyo department store sales had registered a drop of 1.00% in the prior month.
Japanese supermarket sales eased in January
On a YoY basis, supermarket sales dropped 1.60% in Japan, in January. In the previous month, supermarket sales had registered a drop of 2.00%.
Japanese all industry activity index fell more than expected in December
The all industry activity index recorded a drop of 0.30% on a MoM basis in Japan, in December, higher than market expectations for a fall of 0.20%. In the previous month, the all industry activity index had advanced by a revised 0.40%.
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