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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK S&P Global/CIPS services PMI climbed more than expected in April
In the UK, the S&P Global/CIPS services PMI rose to 55.90 in April, compared to a level of 52.90 in the previous month. Markets expecting the PMI to rise to 54.90.
Euro-zone HCOB services PMI rose less than expected in April
In the Euro-zone, the HCOB services PMI advanced to 56.20 in April, compared to a level of 55.00 in the prior month. Markets were expecting the PMI to rise to 56.60.
Euro-zone PPI advanced as expected in March
In the Euro-zone, the PPI rose 5.90% in March, at par with market expectations and compared to a revised rise of 13.30% in the previous month.
European Central Bank (ECB) raises its key interest rates
The European Central Bank (ECB) hiked its key interest rates by 25 basis points to 3.75%, as widely expected. Moreover, the central bank hinted at further tightening of monetary policy to contain inflation.
Germany HCOB services PMI advanced more than anticipated in April
In Germany, the HCOB services PMI rose to 56.00 in April, compared to a level of 55.70 in the prior month. Market anticipations were for the PMI to remain steady at 55.70.
US initial jobless claims rose more than expected in the week ended 28 April 2023
In the US, initial jobless claims advanced to 242.00 K in the week ended 28 April 2023, compared to a revised level of 229.00 K in the prior month. Market anticipations were for jobless claims to rise to 240.00 K.
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