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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales advanced more than expected in February
On a MoM basis in February, retail sales climbed 0.80% in the UK, more than market expectations for an advance of 0.40%. Retail sales had registered a revised drop of 0.20% in the prior month.
BoE held interest rate at 0.50%, hints at a May rate hike
The Bank of England (BoE), at its March monetary policy meeting, opted to keep the benchmark interest rate steady at 0.50% and its asset purchase facility at £435.0 billion, with two officials surprisingly voting for an immediate rate hike. The minutes of the meeting revealed that policymakers expressed the need for further gradual monetary policy tightening in order to bring inflation back to the central bank’s 2.00% target. Further, the central bank warned that an increase in protectionism could have a “significant negative impact” on global growth and could stoke inflation.
UK retail sales ex-fuel advanced more than expected in February
On a MoM basis, retail sales ex-fuel in the UK rose 0.60% in February, more than market expectations for a rise of 0.40%. In the previous month, retail sales ex-fuel had fallen by a revised 0.20%.
UK retail sales advanced more than expected in February
In the UK, retail sales rose 1.50% on an annual basis in February, more than market expectations for a rise of 1.40%. In the prior month, retail sales had registered a revised similar rise.
Euro-zone current account surplus narrowed in January
The non-seasonally adjusted current account surplus of €12.80 billion in January, following a revised current account surplus of €46.80 billion in the previous month.
Euro-zone services PMI declined in March
In March, the preliminary services PMI in the Euro-zone dropped to 55.00, lower than market expectations of a drop to 56.00. In the previous month, services PMI had registered a level of 56.20.
Euro-zone composite PMI dropped in March
The preliminary composite PMI eased to 55.30 in March, in the Euro-zone, compared to market expectations of a fall to a level of 56.80. In the prior month, composite PMI had registered a level of 57.10.
Euro-zone manufacturing PMI fell in March
In the Euro-zone, the flash manufacturing PMI recorded a drop to 56.60 in March, compared to market expectations of a drop to 58.10. In the prior month, the manufacturing PMI had registered a level of 58.60.
Euro-zone current account surplus widened in January
The seasonally adjusted current account surplus in the Euro-zone rose to €37.60 billion in January. The Euro-zone had reported a revised current account surplus of €31.00 billion in the previous month.
German Markit composite PMI slid in March
The flash Markit composite PMI in Germany dropped to 55.40 in March, compared to a level of 57.60 in the previous month. Market anticipation was for Markit composite PMI to ease to 57.00.
German Ifo current assessment index dropped in March
In March, the Ifo current assessment index eased to 125.90 in Germany, compared to market expectations of a fall to a level of 125.60. The Ifo current assessment index had recorded a revised level of 126.40 in the previous month.
German services PMI slid in March
In March, the preliminary services PMI in Germany dropped to 54.20, lower than market expectations of a drop to 55.00. Services PMI had registered a reading of 55.30 in the prior month.
German Ifo business climate index dropped in March
Ifo business climate index registered a drop to 114.70 in March, in Germany, higher than market expectations of a fall to 114.60. The Ifo business climate index had recorded a reading of 115.40 in the prior month.
German Ifo business expectations index eased in March
In March, the Ifo business expectations index registered a drop to 104.40 in Germany, compared to a level of 105.40 in the previous month. Market anticipation was for the Ifo business expectations index to drop to a level of 104.40.
German manufacturing PMI fell in March
In March, the preliminary manufacturing PMI in Germany registered a drop to 58.40, lower than market expectations of a drop to 59.80. In the previous month, manufacturing PMI had recorded a reading of 60.60.
French services PMI dropped in March
The preliminary services PMI recorded a drop to 56.80 in March, in France, compared to market expectations of a fall to 57.00. In the prior month, services PMI had registered a level of 57.40.
French manufacturing PMI declined in March
In France, the preliminary manufacturing PMI registered a drop to 53.60 in March, compared to market expectations of a drop to 55.50. In the prior month, manufacturing PMI had recorded a level of 55.90.
French production outlook indicator slid in March
In March, the production outlook indicator dropped to 27.00 in France, compared to a reading of 30.00 in the prior month. Market anticipation was for the production outlook indicator to fall to 28.00.
French Markit composite PMI dropped in March
The preliminary Markit composite PMI registered a drop to 56.20 in March, in France, compared to market expectations of a fall to a level of 57.00. In the previous month, Markit composite PMI had registered a level of 57.30.
French own-company production outlook surprise dropped in March
Own-company production outlook in France recorded an unexpected drop to 11.00 in March, compared to a revised level of 15.00 in the previous month. Market anticipation was for own-company production outlook to advance to a level of 16.00.
French industrial business climate index dropped in March
In France, the industrial business climate index dropped to 109.00 in March, compared to a revised reading of 110.00 in the previous month. Markets were expecting the industrial business climate index to fall to a level of 109.00.
Italy posted current account deficit in January
Current account deficit in Italy recorded a level of €1.27 billion in January, from a revised current account surplus of €6.17 billion in the previous month.
US Markit composite PMI eased in March
The flash Markit composite PMI in the US recorded a drop to 54.30 in March. Markit composite PMI had registered a reading of 55.80 in the previous month.
US Markit manufacturing PMI climbed in March
In March, the flash Markit manufacturing PMI recorded a rise to 55.70 in the US, higher than market expectations of a rise to a level of 55.50. The Markit manufacturing PMI had registered a level of 55.30 in the previous month.
US Markit services PMI unexpected dropped in March
In March, the flash Markit services PMI recorded an unexpected drop to a level of 54.10 in the US, compared to market expectations of an advance to a level of 56.00. Markit services PMI had recorded a reading of 55.90 in the previous month.
US housing price index advanced more than expected in January
On a monthly basis in the US, the housing price index recorded a rise of 0.80% in January, higher than market expectations for a rise of 0.40%. The housing price index had risen by a revised 0.40% in the previous month.
US leading indicator rose more than expected in February
On a MoM basis, in February, leading indicator rose 0.60% in the US, more than market expectations for a rise of 0.50%. In the previous month, leading indicator had registered a revised rise of 0.80%.
US continuing jobless claims slid in the last week
The seasonally adjusted continuing jobless claims eased to 1828.00 K in the week ended 10 March 2018, compared to a revised level of 1885.00 K in the previous week in the US. Markets were anticipating continuing jobless claims to drop to 1870.00 K.
US Kansas City Fed manufacturing activity index remained flat in March
The Kansas City Fed manufacturing activity index remained steady at 17.00 in the US, in March, meeting market expectations.
US initial jobless claims surprisingly climbed in the last week
The seasonally adjusted initial jobless claims recorded an unexpected rise to a level of 229.00 K in the week ended 17 March 2018, in the US, compared to a level of 226.00 K in the previous week. Markets were expecting initial jobless claims to ease to a level of 225.00 K.
Japanese Tokyo department store sales advanced in February
In Japan, Tokyo department store sales advanced 0.60% in February on an annual basis. In the prior month, Tokyo department store sales had registered a drop of 0.20%.
Japanese supermarket sales rose in February
On an annual basis, supermarket sales rose 1.30% in February, in Japan. In the previous month, supermarket sales had recorded a rise of 0.60%.
Japanese national CPI rose as expected in February
On an annual basis, the national consumer price index (CPI) in Japan advanced 1.50% in February, compared to an advance of 1.40% in the prior month. Markets were expecting the national CPI to climb 1.50%.
Japanese national CPI ex-fresh food rose as expected in February
National CPI ex-fresh food advanced 1.00% on a YoY basis in February, in Japan, compared to an advance of 0.90% in the prior month. Market expectation was for national CPI ex-fresh food to climb 1.00%.
Japanese nationwide department store sales dropped in February
In Japan, nationwide department store sales recorded a drop of 0.90% on an annual basis, in February. In the previous month, nationwide department store sales had dropped 1.20%.
Japanese all industry activity index dropped as expected in January
In January, the all industry activity index slid 1.80% in Japan, on a MoM basis, at par with market expectations. The all industry activity index had recorded a revised rise of 0.60% in the previous month.
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