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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP rose as expected in 1Q 2017
In 1Q 2017, on a YoY basis, the final gross domestic product (GDP) in the UK rose 2.00%, meeting market expectations. The preliminary figures had also recorded an advance of 2.00%. In the prior quarter, GDP had climbed 1.90%.
UK GDP advanced as expected in 1Q 2017
In 1Q 2017, on a quarterly basis, the final GDP in the UK rose 0.20%, compared to a rise of 0.70% in the prior quarter. The preliminary figures had also recorded a rise of 0.20%. Market expectation was for GDP to climb 0.20%.
UK current account deficit rose in 1Q 2017
In 1Q 2017, current account deficit in the UK expanded to £16.90 billion, compared to a current account deficit of £12.10 billion in the prior quarter. Markets were expecting the nation’s current account deficit to rise to £16.90 billion.
UK total business investment advanced as expected in 1Q 2017
On a QoQ basis, the final total business investment in the UK climbed 0.60% in 1Q 2017, compared to a fall of 0.90% in the previous quarter. Market expectation was for total business investment to advance 0.60%. The preliminary figures had also indicated a rise of 0.60%.
UK index of services rose as expected in April
The index of services advanced 0.20% in the UK on a monthly basis in April, meeting market expectations. In the prior month, the index of services had recorded a revised rise of 0.30%.
UK index of services advanced less than expected in April
In the UK, the index of services rose 0.20% on a MoM basis in April, lower than market expectations for a rise of 0.30%. In the January-March 2017 period, the index of services had advanced by a revised 0.10%.
UK total business investment climbed in 1Q 2017
On a YoY basis, the final total business investment advanced 0.70% in the UK, in 1Q 2017. In the previous quarter, total business investment had registered a drop of 0.90%. The preliminary figures had indicated an advance of 0.80%.
Euro-zone core CPI rose more than expected in June
In June, the flash core consumer price index (CPI) advanced 1.10% on a YoY basis in the Euro-zone, more than market expectations for an advance of 1.00%. In the previous month, the core CPI had recorded a rise of 0.90%.
Euro-zone CPI rose more than expected in June
In June, on an annual basis, the flash CPI advanced 1.30% in the Euro-zone, compared to a rise of 1.40% in the previous month. Markets were anticipating the CPI to advance 1.20%.
German retail sales rose more than expected in May
In May, retail sales climbed 4.80% in Germany on an annual basis, compared to a revised drop of 0.40% in the previous month. Markets were expecting retail sales to climb 2.80%.
German retail sales rose more than expected in May
On a monthly basis, retail sales rose 0.50% in May, in Germany, higher than market expectations for an advance of 0.30%. In the prior month, retail sales had recorded a drop of 0.20%.
German number of people unemployed surprisingly rose in June
The number of people unemployed registered an unexpected rise of 7.00 K in Germany, in June, more than market expectations for a fall of 10.00 K. In the prior month, the number of people unemployed had dropped by a revised 7.00 K.
German unemployment rate steadied in June
In June, the seasonally adjusted unemployment rate in Germany remained steady at 5.70%. Markets were expecting unemployment rate to remain unchanged.
French consumer spending advanced more than expected in May
Consumer spending registered a rise of 1.00% on a MoM basis in France, in May, more than market expectations for a rise of 0.50%. Consumer spending had climbed by a revised 0.40% in the previous month.
French EU normalised CPI steadied in June
In June, the flash EU normalised CPI remained steady on a monthly basis in France, similar to an unchanged reading in the prior month. Market expectation was for EU normalised CPI to record an unchanged reading.
French CPI (ex-tobacco) rose as expected in June
In June, on an annual basis, the preliminary CPI (ex-tobacco) registered a rise of 0.70% in France, meeting market expectations. In the previous month, the CPI (ex-tobacco) had advanced 0.80%.
French PPI eased in May
The producer price index (PPI) in France recorded a drop of 0.60% in May on a monthly basis. PPI had recorded a revised drop of 0.50% in the prior month.
French CPI (ex-tobacco) steadied in June
The flash CPI (ex-tobacco) remained flat in France on a monthly basis in June, at par with market expectations. The CPI (ex-tobacco) had recorded an unchanged reading in the previous month.
Italian deficit to GDP (YTD) rose in 1Q 2017
In 1Q 2017, deficit to GDP (YTD) in Italy registered a rise to 4.30%. Deficit to GDP (YTD) had recorded a level of 2.40% in the previous quarter.
Spanish current account surplus fell in April
Current account surplus in Spain fell to €0.40 billion in April. Spain had registered a current account surplus of €1.30 billion in the previous month.
Swiss KOF economic barometer climbed in June
In Switzerland, the KOF economic barometer registered a rise to 105.50 in June, higher than market expectations of a rise to a level of 102.50. In the prior month, the KOF economic barometer had registered a revised level of 102.00.
US core personal consumption expenditure advanced as expected in May
In May, core personal consumption expenditure recorded a rise of 0.10% in the US on a monthly basis, compared to a revised similar rise in the prior month. Markets were expecting core personal consumption expenditure to rise 0.10%.
US Reuters/Michigan consumer sentiment index fell in June
The final Reuters/Michigan consumer sentiment index registered a drop to 95.10 in June, in the US, higher than market expectations of a fall to a level of 94.50. The preliminary figures had recorded an advance to 98.00. In the previous month, the Reuters/Michigan consumer sentiment index had recorded a level of 97.10.
US personal consumption expenditure deflator rose less than expected in May
In May, personal consumption expenditure deflator in the US advanced 1.40% on a YoY basis, less than market expectations for an advance of 1.50%. In the prior month, personal consumption expenditure deflator had climbed 1.70%.
US core personal consumption expenditure rose as expected in May
In May, on an annual basis, core personal consumption expenditure rose 1.40% in the US, at par with market expectations. In the prior month, core personal consumption expenditure had risen 1.50%.
US personal income rose more than expected in May
Personal income registered a rise of 0.40% on a MoM basis in May, in the US, more than market expectations for an advance of 0.30%. In the prior month, personal income had risen by a revised 0.30%.
US Chicago Fed purchasing managers index unexpectedly advanced in June
The Chicago Fed purchasing managers index recorded an unexpected rise to a level of 65.70 in June, in the US, higher than market expectations of a drop to a level of 58.00. In the previous month, the Chicago Fed purchasing managers index had registered a level of 59.40.
US personal spending rose as expected in May
On a MoM basis, personal spending registered a rise of 0.10% in May, in the US, meeting market expectations. Personal spending had advanced 0.40% in the previous month.
US personal consumption expenditure deflator declined as expected in May
On a monthly basis, personal consumption expenditure deflator fell 0.10% in the US, in May, in line with market expectations. In the previous month, personal consumption expenditure deflator had climbed 0.20%.
Canadian firms expecting sales to grow at a faster pace over the next 12 months widened in 2Q 2017, reported Bank of Canada
The Bank of Canada, in its latest business outlook survey indicated that the balance of opinion on future sales rose to 31.00% from 21.00% in the prior quarter.
Canadian raw material price index surprisingly dropped in May
On a MoM basis, the raw material price index unexpectedly eased 1.80% in Canada, in May, compared to a rise of 1.60% in the previous month. Markets were anticipating the raw material price index to record an unchanged reading.
Canadian GDP advanced less than expected in April
The GDP in Canada climbed 3.30% on a YoY basis in April, compared to an advance of 3.20% in the prior month. Markets were anticipating the GDP to climb 3.40%.
Canadian GDP advanced as expected in April
On a monthly basis, the GDP in Canada advanced 0.20% in April, meeting market expectations. In the previous month, the GDP had advanced 0.50%.
Canada’s overall business lending conditions tightened in 2Q 2017
Overall business lending conditions in Canada tightened during the 2Q 2017, with the reading coming in at 2.10 from a reading of -1.90 in the previous quarter.
Canadian industrial product price index unexpectedly dropped in May
On a MoM basis, in May, the industrial product price index recorded an unexpected drop of 0.20% in Canada, less than market expectations for a rise of 0.40%. The industrial product price index had advanced 0.60% in the previous month.
Japanese annualised housing starts remained flat in May
The annualised housing starts in Japan remained steady at a level of 1.00 mn units in May, higher than market expectations of a fall to 0.98 mn units.
Japanese Tankan non-manufacturing outlook index rose in 2Q 2017
The Tankan non-manufacturing outlook index in Japan recorded a rise to 18.00 in 2Q 2017, compared to a reading of 16.00 in the prior quarter. Market anticipation was for the Tankan non-manufacturing outlook index to climb to 21.00.
Japanese housing starts dropped less than expected in May
Housing starts in Japan recorded a drop of 0.30% in May on an annual basis, lower than market expectations for a drop of 0.70%. In the previous month, housing starts had recorded a rise of 1.90%.
Japanese construction orders dropped in May
In May, on a YoY basis, construction orders in Japan slid 0.50%. In the previous month, construction orders had dropped 0.20%.
Japanese Tankan large manufacturing outlook index rose in 2Q 2017
In 2Q 2017, the Tankan large manufacturing outlook index in Japan registered a rise to 15.00, compared to a reading of 11.00 in the prior quarter. Market anticipation was for the Tankan large manufacturing outlook index to advance to a level of 14.00.
Japanese Tankan large manufacturing index climbed in 2Q 2017
In Japan, the Tankan large manufacturing index rose to a level of 17.00 in 2Q 2017, compared to a reading of 12.00 in the prior quarter. Market anticipation was for the Tankan large manufacturing index to advance to 15.00.
Japanese Tankan non-manufacturing index advanced in 2Q 2017
In 2Q 2017, the Tankan non-manufacturing index advanced to 23.00 in Japan, meeting market expectations. The Tankan non-manufacturing index had registered a level of 20.00 in the prior quarter.
Japanese manufacturing PMI declined in June
In June, the final manufacturing PMI eased to 52.40 in Japan. In the prior month, manufacturing PMI had recorded a reading of 53.10. The preliminary figures had recorded a drop to 52.00.
Japanese Tankan large all industry capex advanced more than expected in 2Q 2017
In 2Q 2017, on a QoQ basis, Tankan large all industry capex advanced 8.00% in Japan, higher than market expectations for an advance of 7.20%. Tankan large all industry capex had registered a rise of 0.60% in the previous quarter.
Chinese Caixin/Markit manufacturing PMI index rose in June
Compared to a level of 49.60 in the prior month Caixin/Markit manufacturing PMI index climbed to 50.40 in June, in China. Markets were expecting Caixin/Markit manufacturing PMI index to advance to 49.80.
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