Guardian Stockbrokers Key Economic News Tuesday 18 May 2021

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

US NY Empire State manufacturing index dropped in May

In the US, the NY Empire State manufacturing index fell to a level of 24.30 in May, compared to a reading of 26.30 in the previous month. Markets were expecting the index to drop to a level of 23.90.

US housing market index remained unchanged in May

In the US, the housing market index remained unchanged at 83.00 in May, at par with market expectations.

Japan GDP fell more than expected in 1Q 2021

In Japan, the annualised gross domestic product (GDP) dropped 5.1% in 1Q 2021, compared to a revised jump of 11.6% in the previous quarter. Markets were expecting GDP to decline 4.6%.

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