Macroeconomy

  • 2019-05-24 06:57


    --Brexit Uncertainty Weakens Retailers' Investment Intentions

    LONDON (MNI) - Retail sales volumes contracted in May following last month's Easter euphoria, according to the CBI Distributive Trades Survey, published Friday.

    --Retail sales volumes declined to -27 in May, the fastest pace of decline since

    October 2017, following Easter-led growth of +13 in April.

    --Expectations for sales turn positive in June.
    --Orders placed on suppliers in the year to May also fell at their fastest pace

    in 19 months but were expected to contract again next month, albeit at a slower pace.

    --Non-store retailing was the only sub-sector that reported growth.
    --The quarterly survey showcased a more dismal business environment for

    retailers.

    --Year-ahead investment intentions hit a record low, amid uncertai

  • 2019-05-24 05:01


    By Shaily Mittal and Laurie Laird

    LONDON (MNI) - Retail sales volumes remained steady in April, far exceeding expectations of a retreat after an unusually-strong showing in March.

    The following are the key points from UK Retail Sales data published Friday by the Office for National Statistics.

    - Brexit uncertainty has failed to discourage the UK consumer. Retail sales volumes were unchanged between March and April, far exceeding expections of a 0.8% fall.

    - Unusually-strong sales in March were revised even higher, rising by 1.2% over April.

  • 2019-05-23 08:44


    By Greg Quinn

    OTTAWA (MNI) - Canadian wholesale sales rose 1.4% to C$64.1 billion in March, a fourth straight increase and the fastest pace in two years, with gains across most sectors led by building supplies.

    The gain reported by Statistics Canada Thursday was faster than the estimates of 0.8% from Bank of Montreal and 1.1% from CIBC. However, the solid March gain followed downward revisions in both January and February. Statistics Canada lowered its estimate for February sales to a 0.2% gain from 0.3%, and for January to 0.3% from 0.4%.

    Here are some other key takeaways from the data released Thursday:

    - Six of seven major industries reported gains in March, including a 4.5% rise in building materials and supplies that followed a 5.0% decline in February.

  • 2019-05-22 08:43


    By Greg Quinn

    OTTAWA (MNI) - Canadian retail sales increased in March for the second consecutive month, up a softer-than-expected 1.1% to C$51.3 billion, led by a 6.0% price-related rise in gasoline sales. The March gain was the biggest increase in total sales since May 2018 and followed an upward revision in March to a 1.0% gain from the 0.8% rise previously reported.

    Analysts in an MNI survey had expected a 1.2% gain.

    The following are the other key points from the March data on retail sales released Wednesday by Statistics Canada:

    - Retail sales excluding motor vehicles and parts were up 1.7%, faster than the MNI expected gain of 1.4%.

    - Excluding price changes, sales in volume terms rose 0.3% in March.

  • 2019-05-22 07:00


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a modest rebound in mortgage activity in the May 17 week, with activity up 2.4% on a slight downtick in mortgage rates.

    Here are some of the key features of the report:

    - The Refinance Index rose by 8%, while the Purchase Index fell by 2% in the current week.

    - The 30-year average rate for a 30-year fixed mortgage fell further to 4.33% in the current week from 4.40% in the previous week, hitting its lowest point since January 2018.

    - The unadjusted purchasing index was up 7% from a year earlier.

    --MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

    [TOPICS: MAUDS$,M$U$$$,MK$$$$,M$$MO$]

  • 2019-05-19 17:03


    TOKYO (MNI) - Japan's economy is expected to post a contraction in the January-March period, hit by weak capital investment and private consumption.

    Economists are looking for preliminary Q1 GDP lower by 0.1% fall on quarter, or an annualized -0.2%.

  • 2019-05-17 01:31


    TOKYO (MNI) - Japan's economy is expected to post a contraction in the January-March period, hit by weak capital investment and private consumption.

    Economists are looking for preliminary Q1 GDP lower by 0.1% fall on quarter, or an annualized -0.2%.

  • 2019-05-16 09:08


    By Courtney Tower

    WASHINGTON (MNI) - The following are the key points from the March data on Canadian manufacturing sales released Thursday by Statistics Canada:

    - Sales increased 2.1% in March, matching expectations by analysts surveyed by MNI. While sales were up in eight of the 10 provinces, and well reversed the 0.2% decline in February, they were up only in 12 of 21 industries covered, representing 56% of the Canadian manufacturing sector. Real sales were up 1.6% after decreasing by -0.3% in February.

    - Among sectors posting the largest gains was a 4.5% increase for sales of transportation equipment after three consecutive monthly declines. Their main gain was in motor vehicle sales (+6.5%), with higher sales at all Canadian motor vehicle assembly plants.

  • 2019-05-16 01:31


    TOKYO (MNI) - Japan's economy is expected to post a contraction in the January-March period, hit by weak capital investment and private consumption.

    Economists are looking for preliminary Q1 GDP lower by 0.1% fall on quarter, or an annualized -0.2%.

  • 2019-05-15 09:29


    By Courtney Tower

    WASHINGTON (MNI) - The following are the key points from the April data on Canadian CPI released Wednesday by Statistics Canada.

    - Total CPI rose 0.4% on the month when analysts surveyed by MNI had expected an increase of 0.5%. Headline CPI year-over-year was +2.0%, up one notch from +1.9% in March.

    - The Bank of Canada April core, NSA, was flat, the first no-growth level since December of 2018. The year-over-year BOC core was +1.5% versus +2.4% the previous month. The seasonally adjusted BOC core was +0.2% versus March +0.1%. For the Bank of Canada's three preferred measures of core inflation, CPI-trim came in at 2.0% and CPI-median at 1.9%, both below the 2.1% for each recorded in March.