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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales rose more than expected in January
In the UK, retail sales climbed 1.90% on a MoM basis in January, compared to a revised drop of 4.00% in the previous month. Markets were expecting retail sales to record an advance of 1.00%.
Euro-zone consumer confidence index unexpectedly fell in February
In the Euro-zone, the preliminary consumer confidence index unexpectedly declined to a level of -8.80 in February, compared to a level of -8.50 in the prior month. Markets were expecting the index to record a rise to -8.00.
Euro-zone construction output dropped more than anticipated in December
In the Euro-zone, construction output declined 4.00% on a MoM basis in December, compared to a drop of 0.20% in the previous month. Markets were expecting construction output to fall 0.70%.
Euro-zone current account surplus narrowed in November
In the Euro-zone, current account surplus narrowed to €22.60 billion in November, compared to a surplus of €23.60 billion in the prior month. Markets were expecting surplus to widen to €26.20 billion.
US existing home sales unexpectedly advanced in January
In the US, the existing home sales unexpectedly jumped 6.70% on a MoM in January, compared to a revised drop of 3.80% in the previous month. Markets were expecting the existing home sales to drop 1.00%.
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