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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone consumer confidence index dropped in April
In the Euro-zone, the final consumer confidence index eased to a level of -22.70 in April, compared to a reading of -11.60 in the previous month. Markets were anticipating the consumer confidence index to fall to a level of -22.70.
Euro-zone economic sentiment indicator fell in April
In the Euro-zone, the economic sentiment indicator eased to a level of 67.00 in April, compared to a revised reading of 94.20 in the previous month. Market expectations were for the economic sentiment indicator to fall to 74.40.
German CPI advanced in April
In Germany, the preliminary consumer price index (CPI) registered a rise of 0.80% on a YoY basis in April, compared to a rise of 1.40% in the prior month. Markets were expecting CPI to report a rise of 0.60%.
Fed holds interest rate steady, pledges to keep rates near zero
The US Federal Reserve (Fed), in its latest monetary policy meeting, indicated that it would maintain its current interest rate target between 0% and 0.25%. However, the officials warned over the impact of coronavirus pandemic on economic activity, employment, and inflation in the near term, and that it also poses considerable risks to the economic outlook over the medium term.
US GDP fell more than expected in 1Q 2020
In the US, the preliminary gross domestic product (GDP) fell 4.80% on a QoQ basis in 1Q 2020, compared to a rise of 2.10% in the previous quarter. Markets were expecting the GDP to drop 4.00%.
US pending home sales declined in March
In the US, pending home sales recorded a drop of 20.80% on a MoM basis in March, compared to a revised advance of 2.30% in the previous month. Market expectations were for pending home sales to ease 10.00%.
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