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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Number of unemployment benefits claimants in the UK climbed surprisingly in March
Number of unemployment benefits claimants registered an unexpected increase of 6.70 K in the UK, in March, compared to market anticipations of a decline of 10.00 K. Number of unemployment benefits claimants had recorded a revised decline of 9.30 K in the prior month.
UK average earnings including bonus advanced less than expected in the December-February 2016 period
On an annual basis, the average earnings including bonus rose 1.80% in the UK, in the December-February 2016 period, lower than market expectations for a rise of 2.30%. In the November-January 2016 period, the average earnings including bonus had risen 2.10%.
Employment in the UK climbed in the December-February 2016 period
Employment recorded an increase of 20.00 K in the UK, in the December-February 2016 period, lower than market anticipations of an advance of 60.00 K. Employment had registered an increase of 116.00 K in the November-January 2016 period.
UK ILO unemployment rate steadied in the December-February 2016 period
In the December-February 2016 period, the ILO unemployment rate remained flat at a level of 5.10% in the UK, at par with market expectations.
UK average earnings excluding bonus advanced more than expected in the December-February 2016 period
The average earnings excluding bonus in the UK recorded a rise of 2.20% on an annual basis in the December-February 2016 period, compared to a similar rise in the November-January 2016 period. Markets were anticipating the average earnings excluding bonus to rise 2.10%.
UK claimant count rate remained flat in March
The claimant count rate remained steady at 2.10% in March, in the UK, meeting market expectations.
German PPI remained flat in March
On a monthly basis in March, the producer price index (PPI) remained steady in Germany, compared to a fall of 0.50% in the previous month. Market anticipation was for the PPI to advance 0.20%.
German PPI dropped more than expected in March
On a YoY basis, the PPI dropped 3.10% in March, in Germany, higher than market expectations for a fall of 2.90%. In the previous month, the PPI had recorded a drop of 3.00%.
Swiss economic expectations index climbed in April
The economic expectations index advanced to 11.50 in Switzerland, in April, compared to a level of 2.50 in the prior month.
US existing home sales advanced in March
Existing home sales in the US registered a rise of 5.10%, on MoM basis, to a level of 5.33 million in March, compared to market expectations of 5.28 million. Existing home sales had recorded a revised reading of 5.07 million in the previous month.
US mortgage applications recorded a rise in the last week
Mortgage applications in the US climbed 1.30% on a weekly basis, in the week ended 15 April 2016. Mortgage applications had registered a rise of 10.00% in the previous week.
Canada might need more than 3 years to recover from low oil prices, says Stephen Poloz
The Bank of Canada Governor, Stephen Poloz, in prepared remarks to the Senate Banking Committee, indicated that it could take more than three years for the Canadian economy to fully adjust to the sharp drop in global oil prices. He further added that it could take even longer than three years to reach a new equilibrium with a smaller energy sector relative to the whole economy, while the rest of the economy would have grown to fill the space.
Canadian wholesale sales dropped more than expected in February
Wholesale sales eased 2.20% in Canada on a MoM basis in February, compared to a revised rise of 0.20% in the previous month. Market anticipation was for wholesale sales to fall 0.40%.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥770.90 billion worth of Japanese bonds in the week ended 15 April 2016, as compared to being net buyers of a revised ¥816.40 billion worth of Japanese bonds in the previous week.
Japanese investors became net sellers of foreign stocks in the previous week
Japanese investors remained net sellers of ¥503.40 billion worth of foreign stocks in the week ended 15 April 2016, from being net sellers of a revised ¥206.10 billion worth of foreign stocks in the previous week.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors were net buyers of ¥538.60 billion worth of Japanese stocks in the week ended 15 April 2016, from being net buyers of ¥146.50 billion worth of Japanese stocks in the previous week.
Japanese machine tool orders fell in March
The final machine tool orders slid 21.20% in Japan on an annual basis, in March. Machine tool orders had registered a drop of 22.50% in the prior month. The preliminary figures had also indicated a fall of 21.20%.
Japanese convenience store sales fell in March
In Japan, convenience store sales registered a drop of 0.10% on an annual basis, in March. In the previous month, convenience store sales had registered a rise of 1.60%.
Japanese investors turned net buyers of foreign bonds in the previous week
Japanese investors turned net buyers of ¥844.70 billion worth of foreign bonds in the week ended 15 April 2016, from being net sellers of a revised ¥1176.10 billion worth of foreign bonds in the previous week.
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