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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK house price index dropped in May
In the UK, the house price index eased 0.20% on a MoM basis in May, compared to a drop of 0.60% in the previous month. Markets were expecting the house price index to record a fall of 0.70%.
German factory orders fell more than expected in April
In Germany, the seasonally adjusted factory orders dropped 25.80% on a MoM basis in April, compared to a revised drop of 15.00% in the prior month. Markets were expecting factory orders to record a fall of 19.70%.
US unemployment rate unexpectedly dropped in May
In the US, unemployment rate registered an unexpected drop to 13.30% in May, compared to a level of 14.70% in the prior month. Market anticipation was for the unemployment rate to rise to 19.70%.
US average hourly earnings of all employees rose in May
In the US, average hourly earnings of all employees registered a rise of 6.70% on a YoY basis in May, compared to a revised rise of 8.00% in the previous month. Markets were expecting average hourly earnings of all employees to record a rise of 8.60%.
US nonfarm payrolls unexpectedly climbed in May
In the US, nonfarm payrolls unexpectedly rose by 2059.00K in May, compared to a revised fall of 20687.00K jobs in the prior month. Market expectation was for nonfarm payrolls to drop by 8000.00K.
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