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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone manufacturing PMI unexpectedly dropped in April
In the Euro-zone, the final manufacturing PMI unexpectedly eased to a level of 33.40 in April, compared to a reading of 44.50 in the prior month. Markets were anticipating the manufacturing PMI to advance to a level of 44.70.
German manufacturing PMI unexpectedly fell in April
In Germany, the final manufacturing PMI recorded an unexpected drop to a level of 34.50 in April, compared to a reading of 45.40 in the previous month. Markets were expecting the manufacturing PMI to rise to a level of 45.50.
US factory orders dropped in March
In the US, factory orders dropped 10.30% on a MoM basis in March, compared to a revised drop of 0.10% in the prior month. Markets were expecting factory orders to record a fall of 9.50%.
US durable goods orders fell in March
In the US, the final durable goods orders slid 14.70% on a MoM basis in March. Durable goods orders had registered a revised rise of 1.10% in the prior month.
RBA kept its key interest rate unchanged
The Reserve Bank of Australia (RBA), at its latest monetary policy meeting, kept its official cash rate unchanged at 0.25%, as widely expected.
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