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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI unexpectedly advanced in February
In the UK, the preliminary manufacturing PMI registered an unexpected rise to a level of 54.90 in February, compared to a reading of 54.10 in the previous month. Markets were anticipating the manufacturing PMI to fall to 53.20.
UK retail sales dropped more than expected in January
In the UK, retail sales slid 8.20% on a MoM basis in January, compared to a revised rise of 0.40% in the previous month. Markets were anticipating retail sales to drop 2.50%.
Euro-zone manufacturing PMI unexpectedly climbed in February
In the Euro-zone, the preliminary manufacturing PMI unexpectedly rose to a level of 57.70 in February, compared to a reading of 54.80 in the prior month. Markets were expecting the manufacturing PMI to ease to a level of 54.30.
German manufacturing PMI unexpectedly rose in February
In Germany, the flash manufacturing PMI recorded an unexpectedly jumped to 60.60 in February, compared to a level of 57.10 in the previous month. Markets were expecting the manufacturing PMI to record a drop to 56.50.
US manufacturing PMI dropped as anticipated in February
In the US, the preliminary manufacturing PMI fell to a level of 58.50 in February, in line with expectations and compared to a level of 59.20 in the prior month.
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