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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 UK public sector net borrowing has reported a surplus of £15.80 billion in January, following a deficit of £2.10 billion in the prior month. Market anticipation was for public sector net borrowing to post a surplus of £11.10 billion.
Euro-zone manufacturing PMI fell in February
The flash manufacturing PMI in the Euro-zone dropped to a level of 49.20 in February, compared to market expectations of a drop to a reading of 50.30. The index had recorded a reading of 50.50 in the prior month.
German manufacturing PMI surprisingly eased in February
The preliminary manufacturing PMI in Germany registered an unexpected drop to a level of 47.60 in February, compared to market expectations of an advance to a level of 49.80. In the previous month, the index had registered a reading of 49.70.
US Markit manufacturing PMI slid in February
The flash Markit manufacturing PMI in the US fell to a level of 53.70 in February, compared to a reading of 54.90 in the previous month. Market expectation was for the index to drop to a level of 54.80.
US existing home sales surprisingly fell in January
Existing home sales in the US unexpectedly dropped by 1.20%, on MoM basis, to a level of 4.94 million in January, compared to a revised reading of 5.00 million in the previous month. Markets were expecting existing home sales to remain unchanged at 5.00 million.
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