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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Nationwide house prices declined in May
In the UK, the seasonally adjusted Nationwide house prices registered a drop of 1.70% on a MoM basis in May, compared to a revised rise of 0.90% in the prior month. Markets were expecting the Nationwide house prices to record a fall of 1.00%.
UK net consumer credit declined in April
In the UK, net consumer credit registered a drop of £7.40 billion in April, compared to a drop of £3.80 billion in the prior month. Markets were expecting net consumer credit to fall £4.50 billion.
UK shop price index dropped in May
In the UK, the shop price index fell 2.40% on a YoY basis in May, compared to a drop of 1.70% in the prior month.
Japan services PMI climbed in May
In Japan, the final Japan services PMI advanced to a level of 26.50 in May, compared to a reading of 21.50 in the prior month.
Australian GDP dropped in 1Q 2020
In Australia, gross domestic product (GDP) registered a drop of 0.30% on a QOQ basis in 1Q 2020, compared to a rise of 0.50% in previous quarter. Market anticipations were for the seasonally adjusted GDP to fall 0.30%.
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