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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone retail sales fell in April
In the Euro-zone, seasonally adjusted retail sales dropped 1.30% on a MoM basis in April, compared to a revised rise of 0.30% in the previous month. Markets were expecting retail sales to record an advance of 0.30%.
US nonfarm payrolls increased in May
In the US, nonfarm payrolls rose by 390.00 K in May, compared to revised rise of 436.00 K jobs in the previous month. Markets were expecting nonfarm payrolls to rise by 325.00 K.
US unemployment rate remained unchanged in May
In the US, the unemployment rate remained steady at 3.60% in May. Markets were anticipating unemployment rate to drop to 3.50%.
US ISM services PMI dropped more than anticipated in May
In the US, the ISM services PMI declined to 55.90 in May, compared to a reading of 57.10 in the previous month. Market anticipations were for the services PMI to fall to 56.40
US Beige Book sees ‘slight or modest’ economic growth
According to the US Fed’s latest Beige Book report, most districts in the US witnessed just “slight or modest” economic growth over the past two months. The report indicated that most districts showed price increases rising at a “strong or robust” pace.
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