The most important events of the past week

By Samir El Khoury, ACSI, ACICMP?

United States of America?

• The Manufacturing Purchasing Managers’ Index rose, recording a growth of 51.7 points, which exceeded expectations (51.0) and the previous reading (51.3).?

• The Services Purchasing Managers’ Index rose, recording a growth of 55.1 points, which exceeded expectations (53.4) and the previous reading (54.8).?

• The existing home sales index recorded 4.11 million, which exceeded expectations (4.08M) but lower than the previous reading (4.14M).?

• The Philadelphia Manufacturing Index declined, recording 1.3 points, which is lower than expectations (4.8) and the previous reading (4.5).?

• The initial jobless claims index recorded 238K, which is higher than expectations (235K) but lower than the previous reading (243K).?

• Core retail sales recorded a contraction on a monthly basis of 0.1%, which is lower than expectations (0.2%) but in line with the previous reading.?

• The industrial production index rose on a monthly basis, recording a growth of 0.9%, which exceeded expectations (0.3%) and the previous reading (0.0%).?

• The Empire State Manufacturing Index in New York State rose, recording a contraction of 6.0%, which was higher than expectations (-12.50) and the previous reading (-15.60).?

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Eurozone?

• The average wage index rose on an annual basis in the first quarter, recording 5.30%, which exceeded expectations (3.20%).?

• The headline consumer price index recorded on an annual basis 2.6%, which is in line with expectations but lower than the previous reading (4.2%). The core consumer price index, which excludes food and energy, recorded on an annual basis 2.9%, which is in line with expectations, but lower than the previous reading (7.2%).?

• The Manufacturing Purchasing Managers’ Index declined, recording a contraction of 45.6 points, which is lower than expectations (48.0) and the previous reading (47.3).?

• The services Purchasing Managers’ Index (PMI) declined, recording a growth of 52.6 points, which is lower than expectations (53.5) and the previous reading (53.2).?

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?United Kingdom?

• The Bank of England decided to keep the interest rate of 5.25% unchanged, for the eighth meeting in a row, in line with market expectations.?

• The headline consumer price index recorded on an annual basis 2.0%, which is in line with expectations, but lower than the previous reading (3.2%). The core consumer price index, which excludes food and energy, recorded on an annual basis 3.5%, which is in line with expectations, but lower than the previous reading (3.9%).?

• The manufacturing purchasing managers index rose, recording a growth of 51.4 points, which exceeded expectations (51.3) and the previous reading (51.2).?

• The Services Purchasing Managers’ Index (PMI) declined, registering a growth of 51.2 points, which is lower than expectations (53.0).?

• Retail sales increased, registering a growth of 1.3%, which exceeded expectations (-0.9%) and the previous reading (-2.3%).?

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Switzerland?

• The Monetary Policy Committee of the Swiss National Bank decided to reduce the interest rate by 25 basis points, bringing the rate to the level of 1.25%, which was contrary to expectations that indicated keeping the interest rate at the level of 1.50%.?

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Canada?

• The monthly retail sales index recorded a growth of 0.7%, which was in line with expectations but higher than the previous reading (-0.3%).?

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New Zealand?

• The GDP index rose on an annual basis in the first quarter, recording a growth of 0.3%, which exceeded expectations (0.2%) and the previous reading (-0.2%).?

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Australia?

?The Reserve Bank of Australia decided to keep the interest rate at 4.35% unchanged, in line with market expectations.?

• The Manufacturing PMI recorded a contraction of 47.5 points, which is a lower percentage than the previous reading (49.7).?

• The services PMI recorded a growth of 50.6 points, which is a lower percentage than the previous reading (52.5).?

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China?

• The People's Bank of China set the 5-year key lending rate at 3.95%, which is in line with expectations and the previous reading.?

• The fixed assets investment index decreased on an annual basis, recording 4.2%, which is lower than expectations and the previous reading (4.2%).?

• The industrial production index decreased on an annual basis, recording 5.6%, which is lower than expectations (6.2%) and the previous reading (6.7%).?

• Retail sales rose on an annual basis, recording 3.7%, which exceeded expectations (3.0%) and the previous reading (2.3%).?

• The unemployment rate was 5.0%, which was in line with expectations and the previous reading.?

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Japan?

• The headline consumer price index rose on an annual basis, recording 2.8%, which is higher than the previous reading (2.5%). The core CPI, which excludes food, recorded on an annual basis 2.5%, which is lower than expectations (2.6%) but higher than the previous reading (2.2%).?

• The export index rose, registering a growth of 13.5%, which exceeded expectations (10.4%) and the previous reading (8.3%).?

• The import index recorded a growth of 9.5%, which is lower than expectations (13.0%) but higher than the previous reading (8.3%).?

• The Manufacturing Purchasing Managers' Index declined, registering a growth of 50.1 points, which is lower than expectations (50.6) and the previous reading (50.4).?

• The services PMI declined, recording a contraction of 49.8 points, which is a lower percentage than the previous reading (53.8).?

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?The most important events of this week...

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