The key points from today’s economic news, brought to you by Guardian Stockbrokers.
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UK services PMI dropped in April
In the UK, the final services PMI registered a drop to a level of 13.40 in April, compared to a reading of 34.50 in the previous month. Markets were expecting the services PMI to drop to 12.30.
US services PMI dropped in April
In the US, the final services PMI fell to a level of 26.70 in April, compared to a reading of 39.80 in the prior month.
US trade deficit widened in March
In the US, trade deficit expanded to $44.40 billion in March, following a trade deficit of $39.80 billion in the prior month. Market expectations were for the country’s trade deficit to narrow to $38.00 billion.
Australian retail sales rose in March
In Australia, the seasonally adjusted retail sales rose 8.50% on a MoM basis in March, compared to a revised rise of 0.60% in the previous month. Markets were expecting retail sales to record a rise of 8.20%.
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