The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK index of services surprisingly climbed in March
The index of services recorded an unexpected rise of 0.20% on a monthly basis in March, in the UK, higher than market expectations for a steady reading. The index of services had recorded a revised rise of 0.10% in the prior month.
UK government spending advanced more than expected in 1Q 2017
In 1Q 2017, the flash government spending rose 0.80% on a QoQ basis in the UK, compared to an unchanged reading in the prior quarter. Market anticipation was for government spending to advance 0.40%.
UK BBA mortgage approvals fell in April
BBA mortgage approvals eased to 40.75 K in April, in the UK, lower than market expectations of a drop to a level of 40.80 K. In the prior month, BBA mortgage approvals had registered a revised level of 40.87 K.
UK gross fixed capital formation surprisingly rose in 1Q 2017
In 1Q 2017, the preliminary gross fixed capital formation registered an unexpected rise of 1.20% in the UK on a QoQ basis, higher than market expectations for a fall of 0.20%. In the previous quarter, gross fixed capital formation had advanced 0.10%.
UK private consumption advanced as expected in 1Q 2017
The flash private consumption in the UK registered a rise of 0.30% on a quarterly basis in 1Q 2017, at par with market expectations. In the previous quarter, private consumption had recorded a rise of 0.70%.
UK index of services rose less than expected in March
On a monthly basis, in March, the index of services rose 0.20% in the UK, less than market expectations for an advance of 0.30%. The index of services had climbed by a revised 0.40% in the December-February 2017 period.
UK exports surprisingly eased in 1Q 2017
The flash exports in the UK unexpectedly eased 1.60% on a quarterly basis in 1Q 2017, less than market expectations for a rise of 0.50%. Exports had recorded a drop of 2.60% in the prior quarter.
UK imports rose more than expected in 1Q 2017
On a quarterly basis, the preliminary imports in the UK rose 2.70% in 1Q 2017, more than market expectations for an advance of 0.90%. In the prior quarter, imports had risen 1.30%.
UK total business investment advanced more than expected in 1Q 2017
On a quarterly basis, in the UK, the preliminary total business investment rose 0.60% in 1Q 2017, compared to a drop of 0.90% in the prior quarter. Market anticipation was for total business investment to climb 0.30%.
UK GDP rose less than expected in 1Q 2017
In 1Q 2017, the second estimate of gross domestic product (GDP) registered a rise of 2.00% on a YoY basis in the UK, less than market expectations for an advance of 2.10%. The preliminary figures had indicated a rise of 2.10%. In the prior quarter, GDP had climbed 1.90%.
UK GDP rose less than expected in 1Q 2017
In 1Q 2017, the second estimate of GDP climbed 0.20% in the UK, on a quarterly basis, lower than market expectations for a rise of 0.30%. The preliminary figures had indicated an advance of 0.30%. GDP had risen 0.70% in the prior quarter.
UK total business investment rose in 1Q 2017
In 1Q 2017, on an annual basis, the flash total business investment climbed 0.80% in the UK. Total business investment had dropped 0.90% in the prior quarter.
Italian industrial sales rose in March
The non-seasonally adjusted industrial sales registered a rise of 7.20% in Italy on a YoY basis, in March. Industrial sales had climbed 4.60% in the previous month.
Italian industrial sales climbed in March
The seasonally adjusted industrial sales rose 0.50% on a monthly basis in Italy, in March. Industrial sales had climbed 2.00% in the previous month.
Italian industrial orders rose in March
The non-seasonally adjusted industrial orders advanced 9.20% on a YoY basis, in March, in Italy. In the previous month, industrial orders had advanced 7.80%.
Italian industrial orders declined in March
The seasonally adjusted industrial orders in Italy slid 4.20% in March on a monthly basis. Industrial orders had climbed by a revised 5.20% in the prior month.
Spanish GDP advanced as expected in 1Q 2017
In 1Q 2017, on a QoQ basis, the final GDP recorded a rise of 0.80% in Spain, meeting market expectations. In the prior quarter, GDP had recorded a rise of 0.70%. The preliminary figures had also recorded a rise of 0.80%.
Spanish GDP rose as expected in 1Q 2017
On an annual basis, in 1Q 2017, the final GDP climbed 3.00% in Spain, meeting market expectations. GDP had registered a similar rise in the previous quarter. The preliminary figures had also indicated a rise of 3.00%.
OPEC Vienna meeting: Oil production cuts extended until March 2018
In an attempt to prop up oil prices, the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC members have agreed to extend oil production cuts for a further nine months.
US advance goods trade deficit widened in April
The US has posted advance goods trade deficit of $67.60 billion in April, from a revised advance goods trade deficit of $64.20 billion in the prior month. Markets were expecting the nation to record a advance goods trade deficit of $64.50 billion.
US initial jobless claims advanced in the last week
In the week ended 20 May 2017, the seasonally adjusted initial jobless claims in the US advanced to 234.00 K, compared to market expectations of a rise to 238.00 K. In the previous week, initial jobless claims had registered a revised reading of 233.00 K.
US continuing jobless claims rose in the last week
In the US, the seasonally adjusted continuing jobless claims climbed to 1923.00 K in the week ended 13 May 2017, compared to a revised level of 1899.00 K in the prior week. Market expectation was for continuing jobless claims to rise to 1925.00 K.
US wholesale inventories unexpectedly dropped in April
In April, the seasonally adjusted preliminary wholesale inventories registered an unexpected drop of 0.30% on a MoM basis in the US, less than market expectations for an advance of 0.20%. The wholesale inventories had advanced 0.20% in the prior month.
US Kansas City Fed manufacturing activity index climbed in May
In the US, the Kansas City Fed manufacturing activity index rose to a level of 8.00 in May, lower than market expectations of an advance to a level of 9.00. The Kansas City Fed manufacturing activity index had recorded a reading of 7.00 in the previous month.
Japanese Tokyo CPI excluding fresh food surprisingly advanced in May
Tokyo CPI excluding fresh food in Japan unexpectedly climbed 0.10% on a YoY basis in May, more than market expectations for an unchanged reading. In the previous month, Tokyo CPI excluding fresh food had recorded a drop of 0.10%.
Japanese National CPI ex-fresh food rose less than expected in April
On an annual basis, National CPI ex-fresh food in Japan advanced 0.30% in April, lower than market expectations for a rise of 0.40%. In the prior month, National CPI ex-fresh food had advanced 0.20%.
Japanese Tokyo CPI remained unchanged in May
On a YoY basis in May, Tokyo consumer price index (CPI) remained steady in Japan, meeting market expectations. In the prior month, Tokyo CPI had dropped 0.10%.
Japanese national CPI rose as expected in April
In April, on an annual basis, the national CPI in Japan advanced 0.40%, in line with market expectations. The national CPI had registered a rise of 0.20% in the previous month.
Japanese corporate service price index advanced less than expected in April
The corporate service price index rose 0.70% on an annual basis in Japan, in April, compared to an advance of 0.80% in the previous month. Market anticipation was for the corporate service price index to rise 0.90%.
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