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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales advanced more than expected in April
In April, retail sales recorded a rise of 1.30% in the UK, on a monthly basis, higher than market expectations for a rise of 0.60%. Retail sales had registered a revised drop of 0.50% in the prior month.
UK retail sales rose more than expected in April
In April, retail sales in the UK, advanced 4.30% on an annual basis, higher than market expectations for an advance of 2.50%. Retail sales had registered a revised rise of 3.00% in the prior month.
ECB’s April meeting minutes highlight increased concern over Eurozone inflation expectations
The European Central Bank’s (ECB) April 21 policy meeting minutes revealed that policymakers are concerned about weak inflation expectations within the Euro-zone and emphasized that the central bank’s focus was to maintain a very aggressive monetary policy in the short term. An important theme during the meeting was the need for patience with time needed for the policy measures to take effect. The ECB further stated that the Eurozone’s incoming data pointed to ongoing output growth at a moderate pace, but risks to the growth outlook were still tilted to the downside.
Euro-zone construction output fell in March
On a MoM basis, the seasonally adjusted construction output in the Euro-zone fell 0.90% in March. Construction output had recorded a revised drop of 0.60% in the prior month.
French ILO unemployment rate remained steady in 1Q 2016
ILO unemployment rate in France remained steady at a level of 10.20% in 1Q 2016. Market anticipation was for ILO unemployment rate to record a flat reading.
Dudley joined chorus of Fed officials seeing rate hikes soon
The New York Federal Reserve (Fed) President, William Dudley, noted that it would be appropriate to raise interest rates in June or July if the US economy rebounds from a weak first quarter.
US continuing jobless claims dropped in the last week
The seasonally adjusted continuing jobless claims in the US eased to 2152.00 K in the week ended 07 May 2016, lower than market expectations of a fall to 2158.00 K. Continuing jobless claims had registered a revised level of 2165.00 K in the previous week.
US initial jobless claims dropped in the last week
The seasonally adjusted initial jobless claims registered a drop to 278.00 K in the week ended 14 May 2016, in the US, compared to market expectations of a drop to a level of 275.00 K. In the previous week, initial jobless claims had recorded a level of 294.00 K.
US Chicago Fed national activity index registered a rise in April
In the US, the Chicago Fed national activity index registered a rise to 0.10 in April, higher than market expectations of a rise to -0.20. In the previous month, the Chicago Fed national activity index had registered a revised reading of -0.55.
US Philadelphia Fed manufacturing index recorded an unexpected drop in May
In May, Philadelphia Fed manufacturing index eased unexpectedly to -1.80 in the US, lower than market expectations of an advance to a level of 3.00. Philadelphia Fed manufacturing index had recorded a level of -1.60 in the prior month.
US leading indicator rose more than expected in April
On a MoM basis, leading indicator recorded a rise of 0.60% in the US, in April, more than market expectations for an advance of 0.40%. In the previous month, leading indicator had registered a revised flat reading.
Canadian wholesale sales fell more than expected in March
In March, wholesale sales in Canada recorded a drop of 1.00% on a MoM basis, compared to a revised drop of 2.30% in the prior month. Markets were anticipating wholesale sales to drop 0.50%.
Japanese machine tool orders declined in April
In Japan, the final machine tool orders slid 26.30% on an annual basis, in April. Machine tool orders had dropped 21.20% in the previous month. The preliminary figures had recorded a fall of 26.40%.
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