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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German CPI climbed more than expected in April
In Germany, the flash CPI rose 7.40% on a YoY basis in April, compared to a jump of 7.30% in the prior month. Markets were expecting the CPI to record a rise of 7.20%.
US annualised GDP unexpectedly dropped in 1Q 2022
In the US, the flash annualised GDP fell 1.40% on a QoQ basis in 1Q 2022, compared to a jump of 6.90% in the prior quarter. Markets were expecting the GDP to record an advance of 1.10%.
US initial jobless claims dropped as expected in the week ended 22 April 2022
In the US, seasonally adjusted number of initial jobless claims registered a drop to 180.00 K in week ended 22 April 2022, in line with market expectations and compared to a revised reading of 185.00 K in the previous week.
US Kansas City Fed manufacturing activity index dropped in April
In the US, the Kansas City Fed manufacturing activity index eased to 25.00 in April, compared to a level of 37.00 in the prior month.
Australian PPI advanced more than expected in 1Q 2022
In Australia, the producer price index (PPI) advanced 4.90% on a YoY basis in 1Q 2022, compared to a rise of 3.70% in the prior quarter. Market anticipations were for the PPI to advance 4.20%.
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