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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI unexpectedly rose in February
In the UK, the construction PMI recorded an unexpected rise to a level of 59.10 in February, compared to a reading of 56.30 in the prior month. Markets were expecting the construction PMI to record a steady reading of 56.30.
Euro-zone retail sales climbed less than expected in January
In the Euro-zone, seasonally adjusted retail sales advanced 0.20% on a MoM basis in January, compared to a revised drop of 2.70% in the previous month. Markets were anticipating retail sales to climb 1.30%.
US non-farm payrolls climbed more than anticipated in February
In the US, non-farm payrolls increased by 678.00 K in February, compared to a revised level of 481.00 K jobs in the previous month. Markets were expecting non-farm payrolls to record a rise of 400.00 K jobs.
US unemployment rate dropped more than expected in February
In the US, the unemployment rate dropped to 3.80% in February, compared to 4.00% in the previous month. Markets were expecting unemployment rate to fall to 3.90%.
US average hourly earnings of all employees advanced less than expected in February
In the US, average hourly earnings of all employees recorded a rise of 5.10% on a YoY basis in February, compared to a revised rise of 5.50% in the prior month. Markets were expecting average earnings to record a rise of 5.80%.
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