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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales unexpectedly declined in February
In the UK, retail sales unexpectedly dropped 0.30% on a MoM basis in February, compared to a rise of 1.90% in the prior month. Markets were expecting retail sales to rise 0.60%.
Germany IFO business climate index dropped more than expected in March
In Germany, the IFO business climate index fell to a level of 90.80 in March, compared to a revised reading of 98.50 in the prior month. Markets were expecting the index to decline to 94.20.
German IFO current assessment index fell less than anticipated in March
In Germany, the IFO current assessment index dropped to a level of 97.00 in March, compared to a reading of 98.60 in the previous month. Markets were expecting index to decline to a level of 96.50.
US consumer sentiment index dropped more than expected in March
In the US, the consumer sentiment index fell to level of 59.40 in March, compared to a reading of 62.80 in the previous month. Markets were expecting the index to drop to 59.70.
US pending home sales unexpectedly declined in February
In the US, pending home sales dropped 4.10% on a MoM basis in February, compared to a revised decline of 5.80% in the prior month. Markets were expecting pending home sales to record an advance of 1.00%.
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