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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI dropped less than expected in January
In the UK, the S&P Global/CIPS services PMI fell to 48.70 in January, compared to a reading of 49.90 in the prior month. Markets were expecting the services PMI to fall to 48.00
Euro-zone PPI climbed more than anticipated in December
In the Euro-zone, the producer price index (PPI) rose 24.60% on a YoY basis in December, compared to a revised rise of 27.00% in the previous month. Markets were anticipating the PPI to rise 22.50%.
US average hourly earnings rose as expected in January
In the US, average hourly earnings advanced 0.30% on a MoM basis in January, at par with market expectations and compared to a rise of 0.40% in the prior month.
US nonfarm payrolls unexpectedly advanced in January
In the US, nonfarm payrolls unexpectedly climbed to 517.00 K in January, compared to a revised level of 260.00 K in the previous month.
US unemployment rate unexpectedly dropped in January
In the US, the unemployment rate unexpectedly fell 3.40% in January, compared to 3.50% in the prior month.
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