Guardian Stockbrokers Key Economic News Monday 23 May 2022

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

UK retail sales unexpectedly advanced in April

In the UK, retail sales advanced 1.40% on a MoM basis in April, compared to revised drop of 1.20% in the previous month. Markets were anticipating retail sales to fall 0.20%.

UK Rightmove house price index climbed in May

In the UK, the Rightmove house price index climbed 10.20% on a MoM basis in May, compared to a rise of 9.90% in the previous month.

Euro-zone consumer sentiment improved in May

In the Euro-zone, the consumer confidence index rose to -21.10 in May, compared to level of -22.00 in the prior month. Market anticipations were for the consumer confidence to improve to -21.50.

Germany PPI climbed more than expected in April

In Germany, the PPI rose 2.80% on a MoM basis in April, more than market expectations. The PPI had recorded a rise of 4.9% in the previous month.

PBoC unexpectedly cuts lending rate

The People’s Bank of China (PBoC) has cut its five-year loan prime rate by 15 basis points to 4.45% from 4.60%, in order to support its economy.

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