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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP grew as expected in 1Q23
In the UK, GDP grew 0.10% on a QoQ basis in 1Q23, at par with market expectations.
UK industrial production rose more than anticipated in March
In the UK, industrial production advanced 0.70% on a MoM basis in March, compared to a revised fall of 0.10% in the previous month. Markets were expecting industrial production to remain flat.
UK manufacturing production unexpectedly climbed in March
In the UK, manufacturing production unexpectedly advanced 0.70% on a MoM basis in March, compared to a revised rise of 0.10% in the prior month.
UK NIESR GDP estimate index unexpectedly rose in April
In the UK, the NIESR GDP estimate index unexpectedly advanced 0.10% in the three months to April, compared to a rise of 0.10% in the previous month.
German current account unexpectedly surplus widened in March
In Germany, current account surplus unexpectedly widened to €32.40 billion in March, compared to a revised surplus of €22.50 billion in the previous month.
US Michigan consumer sentiment index dropped more than anticipated in May
In the US, the Michigan consumer sentiment index fell to 57.70 in May, compared to a level of 63.50 in the prior month. Market expectations were for the index to fall to 63.00.
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