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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI advanced in May
In the UK, the final manufacturing PMI advanced to a level of 40.70 in May, compared to a level of 32.60 in the previous month. Markets were anticipating the manufacturing PMI to rise to 40.70.
Euro-zone manufacturing PMI rose in May
In the Euro-zone, the final manufacturing PMI rose to a level of 39.40 in May, compared to a level of 33.40 in the prior month. Markets were expecting the manufacturing PMI to rise to 39.50.
German manufacturing PMI rose in May
In Germany, the final manufacturing PMI climbed to a level of 36.60 in May, compared to a level of 34.50 in the prior month. Markets were anticipating manufacturing PMI to advance to 36.80.
US ISM manufacturing activity index climbed in May
In the US, the ISM manufacturing activity index rose to a level of 43.10 in May, compared to a reading of 41.50 in the prior month. Markets were expecting the manufacturing PMI to advance to a level of 43.00.
US construction spending dropped in April
In the US, construction spending eased 2.90% on a MoM basis in April, compared to a revised flat reading in the previous month. Market anticipation was for construction spending to drop 5.30%.
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