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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK S&P Global/CIPS manufacturing PMI dropped more than expected in May
In the UK, the manufacturing PMI fell to 54.60 in May, compared to a reading of 55.80 in the prior month. Markets anticipations were for the manufacturing PMI to fall to 55.10.
UK public sector net borrowing deficit unexpectedly widened in April
In the UK, public sector net borrowing deficit unexpectedly widened to £17.80 billion in April, compared to a deficit of £13.91 billion in the previous month. Markets were expecting net borrowing deficit to narrow to £8.51 billion.
Euro-zone S&P Global manufacturing PMI declined more than anticipated in May
In the Euro-zone, the manufacturing PMI fell to 54.40 in May, compared to a level of 55.50 in the previous month. Markets expectations were for the manufacturing PMI to fall to 54.90.
Germany S&P Global/BME manufacturing PMI unexpectedly rose in May
In Germany, the manufacturing PMI unexpectedly climbed to 54.70 in May, compared to a reading of 54.60 in the prior month. Markets were anticipating the manufacturing PMI to record a fall to 54.00.
US S&P Global manufacturing PMI fell as expected in May
In the US, the S&P Global manufacturing PMI fell to 57.50 in May, at par with market expectations and compared to a level of 59.20 in the prior month.
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