Guardian Stockbrokers Key Economic News Tuesday 18 April 2023

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

US NY Empire State manufacturing index unexpectedly advanced in April

In the US, the NY Empire State manufacturing index rose to 10.80 in April, compared to a level of -24.60 in the previous month.

US NAHB housing market index rose more than anticipated in April

In the US, the NAHB housing market index climbed to 45.00 in April, compared to a level of 44.00 in the prior month.

RBA hints at further interest rate hike

The Reserve Bank of Australia (RBA) indicated that it could tighten monetary policy further based on inflation and economic conditions.

China gross domestic product (GDP) climbed as expected in 1Q23

In China, gross domestic product (GDP) grew 2.2% on a QoQ basis in 1Q23, at par with market expectations and compared to a flat reading in the prior quarter.

China retail sales advanced more than anticipated in March

In China, retail sales rose 10.60% on a YoY basis in March, compared to a rise of 3.50% in the previous month. Markets were expecting retail sales to rise 7.40%.

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