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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI climbed in March
In the UK, the services PMI recorded a rise to 55.00 in March, higher than market expectations of an advance to 53.40. In the previous month, the services PMI had recorded a level of 53.30.
UK new car registrations rose in March
On an annual basis, new car registrations advanced 8.40% in March, in the UK. In the previous month, new car registrations had registered a drop of 0.30%.
UK official reserves rose in March
Official reserves in the UK advanced $77.00 million, in March. Official reserves had recorded a rise of $360.00 million in the prior month.
Euro-zone services PMI rose in March
In the Euro-zone, the final services PMI recorded a rise to 56.00 in March, lower than market expectations of a rise to a level of 56.50. The preliminary figures had recorded a rise to 56.50. In the prior month, services PMI had registered a reading of 55.50.
Euro-zone composite PMI climbed in March
The final composite PMI in the Euro-zone advanced to 56.40 in March, compared to market expectations of an advance to a level of 56.70. In the previous month, composite PMI had registered a reading of 56.00. The preliminary figures had recorded an advance to 56.70.
German services PMI advanced in March
The final services PMI registered a rise to 55.60 in Germany, in March, at par with market expectations. Services PMI had recorded a reading of 54.40 in the prior month. The preliminary figures had also recorded a rise to 55.60.
French services PMI rose in March
In March, the final services PMI climbed to 57.50 in France, lower than market expectations of an advance to 58.50. Services PMI had recorded a level of 56.40 in the previous month. The preliminary figures had recorded a rise to 58.50.
Italian services PMI dropped surprisingly in March
In March, the services PMI in Italy eased unexpectedly to 52.90, lower than market expectations of an advance to a level of 54.30. The services PMI had recorded a level of 54.10 in the previous month.
Spanish services PMI eased in March
The services PMI dropped to 57.40 in March, in Spain, at par with market expectations. The services PMI had registered a reading of 57.70 in the prior month.
Balance sheet reduction could start late 2017, indicates Fed minutes
The Federal Reserve’s (Fed) March meeting minutes showed that policymakers are contemplating to reduce the $4.5 trillion balance sheet later this year. However, there did not appear to be much of an agreement yet on the pace or scope of the adjustment.
US mortgage applications slid in the last week
Mortgage applications recorded a drop of 1.60% on a weekly basis, in the week ended 31 March 2017, in the US. Mortgage applications had dropped 0.80% in the prior week.
Private sector employment in the US increased in March
In the US, the private sector employment registered a rise of 263.00 K in March, higher than market expectations of an advance of 185.00 K. The private sector employment had recorded a revised increase of 245.00 K in the previous month.
US Markit composite PMI slid in March
The final Markit composite PMI in the US recorded a drop to 53.00 in March. Markit composite PMI had recorded a reading of 54.10 in the prior month. The preliminary figures had indicated a drop to 53.20.
US Markit services PMI eased in March
The final Markit services PMI in the US dropped to 52.80 in March, compared to market expectations of a drop to 53.10. The preliminary figures had indicated a fall to 52.90. In the previous month, Markit services PMI had registered a level of 53.80.
US non-manufacturing PMI dropped in March
In March, the non-manufacturing PMI in the US recorded a drop to 55.20, compared to a level of 57.60 in the previous month. Market anticipation was for the non-manufacturing PMI to drop to 57.00.
Foreign investors turned net buyers of Japanese stocks in the previous week
Foreign investors turned net buyers of ¥584.50 billion worth of Japanese stocks in the week ended 31 March 2017, as compared to being net sellers of ¥754.30 billion worth of Japanese stocks in the prior week.
Japanese investors turned net buyers of foreign bonds in the previous week
Japanese investors turned net buyers of ¥1099.80 billion worth of foreign bonds in the week ended 31 March 2017, from being net sellers of a revised ¥146.80 billion worth of foreign bonds in the prior week.
Foreign investors turned net buyers of Japanese bonds in the previous week
Foreign investors turned net buyers of ¥890.00 billion worth of Japanese bonds in the week ended 31 March 2017, as compared to being net sellers of ¥1923.70 billion worth of Japanese bonds in the previous week.
Japanese investors turned net buyers of foreign stocks in the previous week
Japanese investors turned net buyers of ¥335.40 billion worth of foreign stocks in the week ended 31 March 2017, as compared to being net sellers of ¥294.00 billion worth of foreign stocks in the previous week.
Chinese Caixin/Markit manufacturing PMI index dropped in March
Caixin/Markit manufacturing PMI index in China fell to a level of 52.20 in March, higher than market expectations of a fall to 51.70. Caixin/Markit manufacturing PMI index had registered a revised reading of 52.60 in the previous month.
Chinese Caixin/Markit services PMI index declined in March
The Caixin/Markit services PMI index eased to 52.20 in March, in China, compared to a reading of 52.60 in the prior month.
Chinese Caixin composite PMI declined in March
In March, Caixin composite PMI in China eased to 52.10. In the previous month, Caixin composite PMI had recorded a reading of 52.60.
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