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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price balance slid unexpectedly in March
House price balance in the UK eased unexpectedly to 42.00 in March, lower than market expectations of a steady reading. In the previous month, house price balance had recorded a level of 50.00.
Euro-zone industrial production dropped more than expected in February
The seasonally adjusted industrial production registered a drop of 0.80% on a MoM basis in the Euro-zone, in February, more than market expectations for a fall of 0.70%. Industrial production had registered a revised rise of 1.90% in the prior month.
French EU normalised CPI climbed in March
The final EU normalised consumer price index (CPI) advanced 0.80% in France on a monthly basis, in March. EU normalised CPI had risen 0.30% in the prior month. The preliminary figures had indicated a rise of 0.70%.
Spanish CPI rose as expected in March
On a MoM basis in March, the final CPI climbed 0.60% in Spain, compared to a fall of 0.40% in the previous month. Market anticipation was for the CPI to climb 0.60%. The preliminary figures had also indicated a rise of 0.60%.
Spanish CPI fell as expected in March
The final CPI slid 0.80% on a YoY basis in Spain, in March, meeting market expectations. The CPI had registered a similar fall in the prior month. The preliminary figures had also recorded a fall of 0.80%.
Spanish HICP index dropped as expected in March
The final harmonised consumer price index (HICP) in Spain slid 1.00% in March on an annual basis, meeting market expectations. The preliminary figures had also recorded a fall of 1.00%. In the previous month, the HICP index had registered a similar fall.
Spanish HICP index rose as expected in March
In Spain, the final HICP index rose 2.00% on a monthly basis in March, at par with market expectations. The preliminary figures had also indicated a rise of 2.00%. In the previous month, the HICP index had recorded a drop of 0.40%.
Fed’s Beige Book: Several US regions see pickup in wage growth
The US economy continued to expand from late February to early April, boosting employment and delivering some long-awaited upward pressure on wages and prices, as per the Federal Reserve’s (Fed) Beige Book report. The Fed found that 11 of its 12 regions reported wage growth during the period. However, consumer spending increased only modestly in most districts and capital outlays had been lackluster amid the manufacturing and energy downturn.
US mortgage applications recorded a rise in the last week
In the week ended 08 April 2016, on a weekly basis, mortgage applications recorded a rise of 10.00% in the US. Mortgage applications had recorded a rise of 2.70% in the previous week.
US retail sales Control Group rose less than expected in March
In March, retail sales Control Group climbed 0.10% in the US on a monthly basis, lower than market expectations for an advance of 0.40%. In the prior month, retail sales Control Group had registered a revised similar rise.
US producer prices surprisingly fell in March
In March, producer prices in the US recorded an unexpected drop of 0.10% on a monthly basis, less than market expectations for a rise of 0.20%. In the prior month, producer prices had fallen 0.20%.
US producer prices (ex-food & energy) advanced less than expected in March
Producer prices (ex-food & energy) recorded a rise of 1.00% on a YoY basis in the US, in March, compared to an advance of 1.20% in the prior month. Markets were expecting producer prices (ex-food & energy) to climb 1.30%.
US producer prices unexpectedly eased in March
On a YoY basis in the US, producer prices unexpectedly dropped 0.10% in March, lower than market expectations for a rise of 0.30%. Producer prices had recorded an unchanged reading in the prior month.
US retail sales ex-autos advanced less than expected in March
Retail sales ex-autos in the US rose 0.20% on a MoM basis in March, lower than market expectations for an advance of 0.40%. Retail sales ex-autos had registered a revised flat reading in the prior month.
US business inventories dropped as expected in February
On a MoM basis, business inventories eased 0.10% in February, in the US, compared to a revised similar fall in the previous month. Markets were anticipating business inventories to fall 0.10%.
US producer prices (ex-food & energy) surprisingly eased in March
Producer prices (ex-food & energy) in the US registered an unexpected drop of 0.10% in March on a monthly basis, compared to an unchanged reading in the previous month. Market expectation was for producer prices (ex-food & energy) to advance 0.10%.
US advance retail sales unexpectedly dropped in March
In March, on a MoM basis, advance retail sales unexpectedly eased 0.30% in the US, compared to a revised unchanged reading in the previous month. Market anticipation was for advance retail sales to rise 0.10%.
US retail sales (ex-auto & gas) rose less than expected in March
On a MoM basis in the US, retail sales (ex-auto & gas) registered a rise of 0.10% in March, lower than market expectations for an advance of 0.30%. In the prior month, retail sales (ex-auto & gas) had risen by a revised 0.60%.
Bank of Canada maintains interest rate, raises economic outlook for 2016
The Bank of Canada (BoC) kept its benchmark interest rate steady at 0.50%, as Canada continues to face continuing pressure on oil industry investment coupled with a strengthening Canadian dollar. In a policy report accompanying the rate decision, the central bank upgraded its economic growth forecast for 2016 as it sees new government stimulus measures outweighing economic headwinds. The BoC raised its outlook for Canada’s growth to 1.7% in 2016, up from an earlier projection of 1.4%, citing the positive impact of the March 22 federal budget and recent improvements in the country’s manufacturing sales, exports and jobs. However, the bank trimmed its growth forecast for 2017 to 2.3% from January’s 2.4% estimate. For 2018, growth is expected to decelerate to 2.0%. Further, the central bank warned that while positive economic data in early 2016 has boosted optimism recently, a strong first quarter is unlikely to be sustained over the rest of the year and that the global commodity-price swoon will continue to dampen growth in the coming years.
Japanese investors became net sellers of foreign stocks in the previous week
Japanese investors were net sellers of ¥206.00 billion worth of foreign stocks in the week ended 08 April 2016, as compared to being net sellers of a revised ¥47.80 billion worth of foreign stocks in the prior week.
Foreign investors became net buyers of Japanese bonds in the previous week
Foreign investors were net buyers of ¥816.50 billion worth of Japanese bonds in the week ended 08 April 2016, as compared to being net buyers of ¥30.20 billion worth of Japanese bonds in the prior week.
Japanese investors remained net sellers of foreign bonds in the previous week
Japanese investors remained net sellers of ¥1175.30 billion worth of foreign bonds in the week ended 08 April 2016, as compared to being net sellers of a revised ¥1555.50 billion worth of foreign bonds in the previous week.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors were net buyers of ¥146.50 billion worth of Japanese stocks in the week ended 08 April 2016, from being net buyers of ¥415.20 billion worth of Japanese stocks in the prior week.
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