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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK manufacturing PMI dropped in March
In the UK, the final manufacturing PMI recorded a drop to a level of 47.80 in March, compared to a level of 51.70 in the previous month. Markets were expecting the manufacturing PMI to fall to a reading of 47.00.
Euro-zone manufacturing PMI declined in March
In the Euro-zone, the final manufacturing PMI dropped to a level of 44.50 in March, compared to a reading of 49.20 in the previous month. Markets were expecting the manufacturing PMI to fall to a level of 44.70.
German retail sales rose more than expected in February
In Germany, retail sales climbed 6.40% on a YoY basis in February, compared to a revised advance of 2.10% in the previous month. Market expectations were for retail sales to advance 1.50%.
US manufacturing PMI dropped in March
In the US, the final manufacturing PMI eased to a level of 48.50 in March, compared to a reading of 50.70 in the previous month. Markets were expecting the manufacturing PMI to drop to a level of 49.20.
US construction spending unexpectedly dropped in February
In the US, construction spending recorded a drop of 1.30% on a MoM basis in February, compared to a revised rise of 2.80% in the previous month. Market expectations were for construction spending to advance 0.60%.
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