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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK net consumer credit advanced as expected in April
Net consumer credit advanced £1.50 billion in the UK in April, at par with market expectations. Net consumer credit had risen £1.60 billion in the previous month.
UK net lending to individuals rose in April
Net lending to individuals in the UK registered a rise of £4.30 billion in April. In the previous month, net lending to individuals had recorded a rise of £4.70 billion.
UK number of mortgage approvals for house purchases surprisingly eased in April
In April, number of mortgage approvals for house purchases in the UK eased unexpectedly to a level of 64.60 K, lower than market expectations of an unchanged reading. Number of mortgage approvals for house purchases had recorded a revised reading of 66.00 K in the previous month.
UK M4 Ex-IOFCs 3M annualised rose in April
On a monthly basis, M4 Ex-IOFCs 3M annualised advanced 5.60% in the UK, in April. M4 Ex-IOFCs 3M annualised had registered a revised rise of 4.40% in the prior month.
UK M4 money supply rose in April
On a MoM basis, M4 money supply rose 1.20% in the UK, in April. In the previous month, M4 money supply had recorded a rise of 0.30%.
UK M4 money supply rose in April
M4 money supply rose 8.20% on a YoY basis, in April, in the UK. In the previous month, M4 money supply had recorded a rise of 6.60%.
UK net lending secured on dwellings rose less than expected in April
Net lending secured on dwellings rose £2.70 billion in the UK, in April, compared to an advance of £3.10 billion in the prior month. Market expectation was for net lending secured on dwellings to climb £3.00 billion.
Euro-zone CPI rose less than expected in May
In May, on a YoY basis, the flash consumer price index (CPI) rose 1.40% in the Euro-zone, lower than market expectations for an advance of 1.50%. The CPI had climbed 1.90% in the prior month.
Euro-zone unemployment rate unexpectedly dropped in April
In April, the unemployment rate fell unexpectedly to a level of 9.30% in the Euro-zone, lower than market expectations of an unchanged reading. In the previous month, the unemployment rate had registered a revised level of 9.40%.
Euro-zone core CPI advanced less than expected in May
On a YoY basis, the flash core CPI in the Euro-zone advanced 0.90% in May, lower than market expectations for an advance of 1.00%. The core CPI had risen 1.20% in the prior month.
German retail sales unexpectedly dropped in April
In April, on an annual basis, retail sales registered an unexpected drop of 0.90% in Germany, compared to a revised rise of 2.90% in the prior month. Markets were anticipating retail sales to rise 2.20%.
German retail sales surprisingly eased in April
On a MoM basis, retail sales registered an unexpected drop of 0.20% in Germany, in April, compared to a revised rise of 0.20% in the previous month. Market anticipation was for retail sales to advance 0.30%.
German unemployment rate declined in May
In May, the seasonally adjusted unemployment rate recorded a drop to 5.70% in Germany, compared to a level of 5.80% in the prior month. Markets were expecting unemployment rate to drop to a level of 5.70%.
German number of people unemployed declined less than expected in May
The number of people unemployed recorded a drop of 9.00 K in May, in Germany, compared to a fall of 15.00 K in the previous month. Market anticipation was for the number of people unemployed to ease 15.00 K.
French PPI dropped in April
The producer price index (PPI) in France eased 0.60% on a monthly basis, in April. In the prior month, the producer price index had fallen by a revised 0.30%.
French EU normalised CPI remained flat in May
The flash EU normalised CPI in France remained steady on a monthly basis in May, lower than market expectations for a rise of 0.10%. EU normalised CPI had advanced 0.10% in the previous month.
French CPI (ex-tobacco) advanced as expected in May
On a monthly basis in May, the flash CPI (ex-tobacco) registered a rise of 0.10% in France, in line with market expectations. In the previous month, the CPI (ex-tobacco) had registered a similar rise.
French CPI (ex-tobacco) rose less than expected in May
The flash CPI (ex-tobacco) in France registered a rise of 0.80% in May on a YoY basis, compared to an advance of 1.20% in the previous month. Markets were anticipating the CPI (ex-tobacco) to advance 0.90%.
Italian CPI declined as expected in May
In May, the flash CPI in Italy, registered a drop of 0.20% on a MoM basis, at par with market expectations. The CPI had registered a rise of 0.40% in the prior month.
Italian unemployment rate unexpectedly dropped in April
Unemployment rate registered an unexpected drop to 11.10% in Italy, in April, compared to market expectations of an advance to a level of 11.60%. Unemployment rate had registered a revised reading of 11.50% in the prior month.
Italian EU normalised CPI advanced as expected in May
The preliminary EU normalised CPI recorded a rise of 1.50% in Italy on an annual basis in May, at par with market expectations. In the previous month, the EU normalised CPI had climbed 2.00%.
Italian CPI rose as expected in May
The flash CPI registered a rise of 1.50% on a YoY basis in Italy, in May, meeting market expectations. In the previous month, the CPI had climbed 1.90%.
Italian EU normalised CPI declined as expected in May
In May, the preliminary EU normalised CPI eased 0.20% in Italy on a MoM basis, in line with market expectations. In the previous month, the EU normalised CPI had climbed 0.80%.
Spain recorded current account surplus in March
Current account surplus in Spain recorded a level of €1.30 billion in March, from a current account deficit of €0.20 billion in the prior month.
Swiss UBS consumption indicator climbed in April
UBS consumption indicator climbed to 1.48 in April, in Switzerland, compared to a revised reading of 1.44 in the previous month.
Swiss economic expectations index climbed in May
In Switzerland, the economic expectations index rose to a level of 30.80 in May. In the previous month, the economic expectations index had registered a reading of 22.20.
Fed’s Beige Book: US economic growth modest, ‘optimism waned’ in some areas
The Federal Reserve’s (Fed) Beige Book report indicated that the US economy expanded at a modest to moderate pace from early April through late May. However, the economy showed little sign of breaking out from a recent trend of sluggish inflation and some firms have become a bit less optimistic about the future.
US Chicago Fed PMI fell in May
In May, the Chicago Fed PMI in the US dropped to 55.20, lower than market expectations of a fall to 57.00. In the previous month, the Chicago Fed PMI had registered a reading of 58.30.
US Redbook index climbed in the last week
In the US, the Redbook index climbed 1.80% in the week ended 26 May 2017 on a YoY basis. The Redbook index had climbed 2.00% in the previous week.
US mortgage applications declined in the last week
On a weekly basis, mortgage applications in the US slid 3.40% in the week ended 26 May 2017. Mortgage applications had risen 4.40% in the previous week.
US pending home sales dropped in April
Pending home sales in the US eased 5.40% on an annual basis, in April. In the previous month, pending home sales had climbed 0.50%.
US pending home sales unexpectedly dropped in April
In April, on a MoM basis, pending home sales in the US recorded an unexpected drop of 1.30%, compared to a revised fall of 0.90% in the previous month. Markets were anticipating pending home sales to advance 0.50%.
US Redbook index dropped in the last week
The seasonally adjusted Redbook index fell 1.10% in the US on a MoM basis, in the week ended 26 May 2017. In the prior week, the Redbook index had registered a similar fall.
Canadian annualised GDP advanced less than expected in 1Q 2017
In 1Q 2017, annualised gross domestic product (GDP) in Canada registered a rise of 3.70% on a quarterly basis, compared to a revised advance of 2.70% in the previous quarter. Markets were anticipating annualised GDP to rise 4.20%.
Canadian GDP advanced more than expected in March
The GDP in Canada rose 0.50% in March on a MoM basis, compared to an unchanged reading in the previous month. Markets were expecting the GDP to climb 0.20%.
Canadian GDP advanced more than expected in March
On a YoY basis, the GDP advanced 3.20% in March, in Canada, more than market expectations for a rise of 2.90%. The GDP had registered a revised rise of 2.40% in the previous month.
Japanese annualised housing starts surprisingly climbed in April
In April, the annualised housing starts in Japan climbed unexpectedly to a level of 1.00 mn units, higher than market expectations of a drop to 0.97 mn units. In the prior month, the annualised housing starts had registered a reading of 0.98 mn units.
Japanese capital spending excluding software rose more than expected in 1Q 2017
In 1Q 2017, capital spending excluding software registered a rise of 5.20% in Japan on a YoY basis, compared to an advance of 3.30% in the prior quarter. Market expectation was for capital spending excluding software to advance 4.10%.
Japanese investors turned net buyers of foreign stocks in the previous week
Japanese investors turned net buyers of ¥630.30 billion worth of foreign stocks in the week ended 26 May 2017, as compared to being net sellers of ¥26.10 billion worth of foreign stocks in the previous week.
Japanese small business confidence index advanced in May
The small business confidence index in Japan climbed to 48.90 in May, compared to a level of 48.60 in the previous month.
Japanese housing starts unexpectedly rose in April
On an annual basis, in Japan, housing starts registered an unexpected rise of 1.90% in April, compared to an advance of 0.20% in the prior month. Market expectation was for housing starts to drop 1.50%.
Japanese investors remained net buyers of foreign bonds in the previous week
Japanese investors remained net buyers of ¥732.10 billion worth of foreign bonds in the week ended 26 May 2017, as compared to being net buyers of a revised ¥779.90 billion worth of foreign bonds in the prior week.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors were net buyers of ¥460.90 billion worth of Japanese bonds in the week ended 26 May 2017, as compared to being net buyers of a revised ¥562.70 billion worth of Japanese bonds in the prior week.
Japanese construction orders fell in April
In April, on a YoY basis, construction orders in Japan slid 0.20%. Construction orders had recorded a rise of 1.10% in the prior month.
Japanese capital spending rose more than expected in 1Q 2017
Capital spending rose 4.50% on an annual basis in Japan, in 1Q 2017, higher than market expectations for an advance of 4.00%. In the previous quarter, capital spending had advanced 3.80%.
Japanese corporate loans & discounts rose in April
On an annual basis, corporate loans & discounts climbed 3.74% in April, in Japan. In the prior month, corporate loans & discounts had registered a revised rise of 3.26%.
Japanese manufacturing PMI climbed in May
The final manufacturing PMI in Japan rose to a level of 53.10 in May, compared to a level of 52.70 in the prior month. The preliminary figures had indicated a drop to 52.00.
Foreign investors turned net buyers of Japanese stocks in the previous week
Foreign investors turned net buyers of ¥129.60 billion worth of Japanese stocks in the week ended 26 May 2017, from being net sellers of a revised ¥25.90 billion worth of Japanese stocks in the prior week.
Chinese Caixin/Markit manufacturing PMI index dropped in May
Caixin/Markit manufacturing PMI index in China recorded a drop to 49.60 in May, lower than market expectations of a drop to a level of 50.10. In the previous month, Caixin/Markit manufacturing PMI index had recorded a level of 50.30.
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