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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI advanced in February
In the UK, the S&P Global/CIPS manufacturing PMI climbed to 49.20 in February, compared to a level of 47.00 in the prior month. Markets were expecting the manufacturing PMI to rise to 47.50.
Euro-zone manufacturing PMI unexpectedly dropped in February
In the Euro-zone, the S&P Global manufacturing PMI unexpectedly fell to 48.50 in February, compared to a level of 48.80 in the previous month.
German manufacturing PMI unexpectedly fell in February
In Germany, the S&P Global/BME manufacturing PMI unexpectedly dropped to 46.50 in February, compared to a reading of 47.30 in the prior month.
German economic sentiment advanced more than anticipated in February
In Germany, the ZEW survey economic sentiment climbed to 28.10 in February, compared to a reading of 16.90 in the previous month. Market anticipations were for the economic sentiment to rise to 22.00.
US existing home sales unexpectedly dropped in January
In the US, existing home sales unexpectedly fell 0.70% on a MoM basis in January, compared to a revised drop of 2.20% in the prior month.
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