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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK official reserves climbed in March
In the UK, official reserves advanced $756.00 million, in March. In the previous month, official reserves had registered a rise of $1362.00 million.
UK services PMI recorded a rise in March
The services Purchasing Managers Index (PMI) rose to a level of 53.70 in the UK, in March, compared to market expectations of a rise to 53.50. The services PMI had registered a level of 52.70 in the prior month.
UK BRC shop price index declined in March
The BRC shop price index registered a drop of 1.70% on an annual basis in the UK, in March. The BRC shop price index had fallen 2.00% in the prior month.
Euro-zone services PMI registered a surprise drop in March
In March, the final services PMI in the Euro-zone recorded an unexpected drop to a level of 53.10, compared to a reading of 53.30 in the prior month. The preliminary figures had indicated an advance to 54.00. Markets were anticipating services PMI to rise to a level of 54.00.
Euro-zone retail sales recorded an unexpected rise in February
In February, the seasonally adjusted retail sales registered an unexpected rise of 0.20% on a monthly basis in the Euro-zone, more than market expectations for an unchanged reading. Retail sales had recorded a revised rise of 0.30% in the prior month.
Euro-zone composite PMI advanced in March
Compared to a reading of 53.00 in the prior month the final composite PMI registered a rise to 53.10 in March, in the Euro-zone. Market anticipation was for composite PMI to advance to a level of 53.70. The preliminary figures had recorded a rise to 53.70.
German services PMI declined surprisingly in March
In March, the final services PMI dropped unexpectedly to a level of 55.10 in Germany, lower than market expectations of an advance to a level of 55.50. Services PMI had registered a level of 55.30 in the previous month. The preliminary figures had recorded a rise to 55.50.
German factory orders surprisingly dropped in February
In February, the seasonally adjusted factory orders unexpectedly fell 1.20% on a MoM basis in Germany, lower than market expectations for a rise of 0.30%. Factory orders had advanced by a revised 0.50% in the prior month.
German factory orders advanced less than expected in February
In February, the non-seasonally adjusted factory orders climbed 0.50% on a YoY basis in Germany, lower than market expectations for an advance of 2.20%. In the prior month, factory orders had registered a revised rise of 0.40%.
French services PMI advanced in March
In March, the final services PMI rose to a level of 49.90 in France, compared to a reading of 49.20 in the prior month. The preliminary figures had indicated a rise to 51.20. Market anticipation was for services PMI to rise to 51.20.
Italian services PMI recorded a surprise drop in March
The services PMI registered an unexpected drop to 51.20 in March, in Italy, compared to market expectations of an advance to 53.90. In the prior month, the services PMI had recorded a reading of 53.80.
Spanish services PMI climbed in March
In Spain, the services PMI advanced to 55.30 in March, compared to a reading of 54.10 in the previous month. Markets were expecting the services PMI to climb to 54.50.
US on track for two rate increases this year, says Charles Evans
Speaking at the Credit Suisse Asian Investment Conference in Hong Kong, the Federal Reserve (Fed) Bank of Chicago President, Charles Evans, stated that the US economy is on path for two rate hikes this year. However, he did not comment on the timing of the same. He added that though the US inflation measures have shown some recent strength, the US Fed needs to be proactive and aggressive to achieve the central bank’s inflation target of 2.0%.
US Markit services PMI climbed in March
The final Markit services PMI climbed to 51.30 in the US, in March, higher than market expectations of a rise to 51.20. Markit services PMI had registered a level of 49.70 in the previous month. The preliminary figures had recorded an advance to 51.00.
US trade deficit rose in February
In February, trade deficit in the US expanded to $47.10 billion, from a revised trade deficit of $45.90 billion in the previous month. Market anticipation was for the nation to record a trade deficit of $46.20 billion.
US Redbook index recorded a rise in the last week
On a YoY basis, the Redbook index climbed 0.60% in the US, in the week ended 01 April 2016. In the prior week, the Redbook index had climbed 1.50%.
US Redbook index rose in the last week
On a MoM basis, the seasonally adjusted Redbook index in the US advanced 3.10% in the week ended 01 April 2016. In the previous week, the Redbook index had registered a similar rise.
US economic optimism index slid surprisingly in April
In April, the economic optimism index in the US recorded an unexpected drop to a level of 46.30, compared to a reading of 46.80 in the prior month. Markets were anticipating the economic optimism index to advance to 47.00.
US Markit composite PMI advanced in March
In March, the final Markit composite PMI rose to a level of 51.30 in the US. Markit composite PMI had registered a reading of 50.00 in the prior month. The preliminary figures had recorded an advance to 51.10.
US JOLTs job openings declined in February
In February, JOLTs job openings in the US fell to a level of 5445.00 K. In the previous month, JOLTs job openings had registered a revised reading of 5604.00 K.
US non-manufacturing PMI climbed in March
Compared to a reading of 53.40 in the prior month the non-manufacturing PMI registered a rise to 54.50 in March, in the US. Market expectation was for the non-manufacturing PMI to advance to a level of 54.20.
Canadian international merchandise trade deficit widened in February
The international merchandise trade deficit in Canada rose to C$1.91 billion in February, from a revised international merchandise trade deficit of C$0.63 billion in the prior month. Market expectation was for the nation to register an international merchandise trade deficit of C$0.90 billion.
Chinese Caixin composite PMI advanced in March
In March, Caixin composite PMI advanced to 51.30 in China. In the prior month, Caixin composite PMI had recorded a level of 49.40.
Chinese Caixin/Markit services PMI index advanced in March
The Caixin/Markit services PMI index climbed to 52.20 in March, in China. The Caixin/Markit services PMI index had registered a reading of 51.20 in the prior month.
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