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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
US consumer sentiment index dropped in February
In the US, the consumer sentiment index dropped to a level of 76.80 in February, compared to a level of 79.00 in the previous month. Markets were expecting the consumer sentiment index to record a fall to a level of 76.50.
US personal spending climbed less than expected in January
In the US, personal spending advanced 2.40% on a MoM basis in January, compared to a revised drop of 0.40% in the previous month. Markets were expecting personal spending to record a rise of 2.50%.
US personal income rose more than expected in January
In the US, personal income jumped 10.00% on a MoM basis in January, compared to rise of 0.60% in the previous month. Markets were expecting personal income to record an advance of 9.50%.
US Chicago Fed Purchasing Managers’ Index dropped more than anticipated in February
In the US, the Chicago Fed Purchasing Managers’ Index dropped to a level of 59.50 in February, compared to a reading of 63.80 in the prior month. Markets were expecting the index to record a drop to 61.10.
Chinese manufacturing PMI index unexpectedly dropped in February
In China, the manufacturing PMI index recorded an unexpected drop to 50.90 in February, compared to a reading of 51.50 in the previous month. Market anticipations were for the manufacturing PMI index to record a steady reading of 51.50.
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