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Guardian Stockbrokers Key Economic News Friday 26 May 2023

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


German GfK consumer confidence index rose less than expected in June

In Germany, the GfK consumer confidence index advanced to -24.20 in June, compared to a revised level of -25.80 in the previous month. Markets were expecting the index to rise to -24.00.

German GDP unexpectedly fell in 1Q23

In Germany, the GDP unexpectedly declined 0.30% on a QoQ basis in 1Q23, compared to a fall of 0.50% in the previous quarter.

US GDP grew more than anticipated in 1Q23

In the US, the GDP rose 1.30% in 1Q23, compared to a rise of 2.60% in the previous quarter. Markets were expecting the GDP to rise 1.10%.

US Chicago Fed National activity index advanced more than expected in April

In the US, the Chicago Fed National Activity Index rose to 0.07 in April, compared to a revised drop of 0.37 in the prior month.

US initial jobless claims advanced less than expected in the week ended 19 May 2023

In the US, initial jobless claims rose to 229.00K in the week ended 19 May 2023, compared to a revised level of 225.00K in the prior week. Market anticipations were for jobless claims to rise to 245.00K.

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