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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing production declined more than expected in February
In February, manufacturing production dropped 1.10% in the UK on a MoM basis, more than market expectations for a fall of 0.20%. In the previous month, manufacturing production had recorded a revised rise of 0.50%.
UK manufacturing production dropped more than expected in February
On a YoY basis, manufacturing production in the UK recorded a drop of 1.80% in February, more than market expectations for a fall of 0.70%. In the previous month, manufacturing production had dropped by a revised 0.30%.
UK NIESR estimated GDP climbed in the January-March 2016 period
In the January-March 2016 period, on a MoM basis, NIESR estimated gross domestic product (GDP) rose 0.30% in the UK. NIESR estimated GDP had advanced by a revised 0.20% in the December-February 2016 period.
UK visible trade deficit fell in February
In February, visible trade deficit in the UK dropped to £11.96 billion, more than market expectations of a visible trade deficit of £10.20 billion. The UK had registered a revised visible trade deficit of £12.16 billion in the previous month.
UK industrial production unexpectedly slid in February
In February, industrial production in the UK, unexpectedly fell 0.50% on a YoY basis, lower than market expectations for a steady reading. Industrial production had recorded a revised rise of 0.10% in the previous month.
UK trade deficit fell in February
Non-EU trade deficit in the UK narrowed to £3.36 billion in February, following a revised trade deficit of £4.36 billion in the previous month. Market expectation was for the country’s trade deficit to narrow to £2.50 billion.
UK industrial production unexpectedly slid in February
On a MoM basis, industrial production in the UK recorded an unexpected drop of 0.30% in February, compared to a revised advance of 0.20% in the prior month. Markets were anticipating industrial production to climb 0.10%.
UK total trade deficit fell in February
The UK has posted total trade deficit of £4.84 billion in February, following a revised total trade deficit of £5.23 billion in the prior month. Market expectation was for a total trade deficit of £3.40 billion.
German current account surplus rose in February
In February, the non-seasonally adjusted current account surplus in Germany widened to €20.00 billion, more than market expectations of a current account surplus of €16.50 billion. Germany had registered a revised current account surplus of €14.30 billion in the prior month.
German trade surplus widened in February
The seasonally adjusted trade surplus in Germany widened to €20.30 billion in February, compared to market expectations of a trade surplus of €18.00 billion. Germany had reported a revised trade surplus of €13.40 billion in the prior month.
German imports surprisingly advanced in February
The seasonally adjusted imports in Germany unexpectedly rose 0.40% on a MoM basis in February, compared to a revised rise of 1.30% in the previous month. Markets were anticipating imports to ease 0.30%.
German exports advanced more than expected in February
In February, the seasonally adjusted exports in Germany registered a rise of 1.30% on a MoM basis, more than market expectations for a rise of 0.50%. In the prior month, exports had fallen by a revised 0.60%.
French business sentiment index advanced unexpectedly in March
The business sentiment index climbed unexpectedly to a level of 99.00 in France, in March, higher than market expectations of an unchanged reading. In the prior month, the business sentiment index had recorded a reading of 98.00.
French industrial production dropped more than expected in February
Industrial production slid 1.00% in France on a monthly basis in February, more than market expectations for a fall of 0.40%. Industrial production had risen by a revised 1.00% in the prior month.
French manufacturing production dropped more than expected in February
On a monthly basis, in February, manufacturing production slid 0.90% in France, compared to a revised rise of 0.40% in the previous month. Market expectation was for manufacturing production to ease 0.30%.
French budget deficit widened in February
In February, budget deficit in France expanded to €25.60 billion, from a budget deficit of €9.20 billion in the prior month.
Swiss CPI advanced as expected in March
In March, on a monthly basis, the consumer price index (CPI) registered a rise of 0.30% in Switzerland, meeting market expectations. In the previous month, the CPI had advanced 0.20%.
Swiss unemployment rate advanced in March
In March, the seasonally adjusted unemployment rate registered a rise to 3.50% in Switzerland, compared to a reading of 3.40% in the previous month. Markets were anticipating unemployment rate to advance to a level of 3.50%.
Swiss EU HICP rose more than expected in March
In March, the EU harmonised consumer price index rose 0.40% on a MoM basis in Switzerland, higher than market expectations for a rise of 0.30%. The EU HICP had risen 0.20% in the previous month.
Swiss EU HICP dropped less than expected in March
The EU harmonised consumer price index (HICP) eased 1.00% in Switzerland on an annual basis in March, compared to a drop of 0.90% in the prior month. Markets were anticipating the EU HICP to ease 1.10%.
Swiss unemployment rate slid in March
In March, the non-seasonally adjusted unemployment rate recorded a drop to 3.60% in Switzerland, compared to a reading of 3.70% in the prior month. Market expectation was for unemployment rate to ease to 3.60%.
Swiss CPI fell as expected in March
On a YoY basis, the CPI in Switzerland dropped 0.90% in March, meeting market expectations. The CPI had registered a drop of 0.80% in the previous month.
New York Fed’s Dudley calls for cautious approach to lifting interest rates
The Federal Reserve Bank (Fed) of New York President, William Dudley, at a speech at the University of Bridgeport in Connecticut, called for a “cautious and gradual” approach to lifting interest rates, as uncertainty over the outlook for the US economy is higher than usual. He highlighted that low levels of energy and commodity prices might indicate persistent disinflationary pressures than currently anticipated, while renewed tightening of financial market conditions could have a greater negative impact on the nation’s economy. Separately, he stated that he expects the economy to expand at about 2.0% overall this year, with unemployment falling to about 4.75% from 5% now.
US wholesale inventories declined more than expected in February
In February, the seasonally adjusted wholesale inventories eased 0.50% on a monthly basis in the US, compared to a revised drop of 0.20% in the prior month. Market expectation was for the wholesale inventories to fall 0.20%.
Part time employment in Canada recorded an increase in March
Part time employment rose by 5.30 K in Canada, in March. Part time employment had recorded an increase of 49.50 K in the prior month.
Net number of people employed in Canada advanced in March
In Canada, the net number of people employed climbed by 40.60 K in March, compared to a fall of 2.30 K in the prior month. Market expectation was for the net number of people employed to rise 10.00 K.
Canadian unemployment rate declined unexpectedly in March
In March, the unemployment rate in Canada dropped unexpectedly to 7.10%, lower than market expectations of an unchanged reading. In the prior month, the unemployment rate had registered a level of 7.30%.
Canadian housing starts eased in March
Compared to a revised reading of 219.10 K in the prior month the seasonally adjusted housing starts in Canada fell to a level of 204.30 K in March. Markets were expecting housing starts to fall to 190.00 K.
Number of full time employment in Canada recorded an increase in March
The number of full time employment in Canada advanced by 35.30 K in March, compared to a fall of 51.80 K in the prior month.
Canadian participation rate steadied in March
In March, the participation rate remained unchanged at 65.90% in Canada, in line with market expectations.
Japanese consumer confidence index advanced in March
In March, the consumer confidence index recorded a rise to 41.70 in Japan, compared to a reading of 40.10 in the previous month. Markets were anticipating the consumer confidence index to rise to a level of 40.50.
Japanese machinery orders declined less than expected in February
On an annual basis, machinery orders registered a drop of 0.70% in February, in Japan, less than market expectations for a drop of 2.50%. Machinery orders had advanced 8.40% in the previous month.
Japanese corporate bankruptcies slid in March
Corporate bankruptcies in Japan recorded a drop of 13.15% on a YoY basis, in March. In the previous month, corporate bankruptcies had climbed 4.47%.
Japanese Eco Watchers Survey for current situation climbed in March
Compared to a level of 44.60 in the previous month Eco Watchers Survey for the current situation rose to a level of 45.40 in March, in Japan. Market anticipation was for Eco Watchers Survey for the current situation to rise to a level of 45.50.
Japanese Eco Watchers Survey for future outlook fell unexpectedly in March
Eco Watchers Survey for the future outlook fell unexpectedly to 46.70 in Japan, in March, compared to market expectations of an advance to 48.30. Eco Watchers Survey for the future outlook had recorded a reading of 48.20 in the prior month.
Japanese machinery orders dropped less than expected in February
On a monthly basis in February, machinery orders registered a drop of 9.20% in Japan, lower than market expectations for a fall of 12.00%. In the previous month, machinery orders had risen 15.00%.
Chinese CPI dropped in March
The consumer price index (CPI) slid 0.40% on a MoM basis in China, in March. In the prior month, the CPI had risen 1.60%.
Chinese PPI fell less than expected in March
In March, on a YoY basis, the producer price index (PPI) in China slid 4.30%, lower than market expectations for a fall of 4.60%. The PPI had recorded a drop of 4.90% in the prior month.
Chinese CPI rose less than expected in March
On an annual basis, in March, the CPI advanced 2.30% in China, less than market expectations for an advance of 2.40%. The CPI had registered a similar rise in the prior month.
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