Haver Resources

Jun 05

UK services sector remained robust in May

Today’s estimates of the UK services PMI suggest that business activity continued to expand during May, thanks to a strong rise in output and incoming new orders. The key details were as follows: • The S&P Global / CIPS UK Services PMI Business Activity Index was 55.2 in May, a...

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Jun 02
Jun 01
May 31
May 26

UK Retail Sales Volume Rebound in April

UK retail sales grew a little more than expected in April. The broader trend also suggests a slightly brighter picture for consumer spending, notwithstanding still-intense cost of living pressures from high inflation. The main points from this report were as follows – • Retail sales volumes rose by 0.5% m/m...

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May 25

U.S. GDP Growth Revised Up in Q1’23; Profits Decline

Summary Inventories continue to subtract substantially from growth. Consumer spending stays strong as auto buying surges; business investment slows. Price index is unrevised & firm. After-tax profitability declines again. Real GDP grew 1.3% at an annual rate (1.6% y/y) during Q1'23 following a 2.6% Q4 rise. The figure was increased...

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May 24

Mortgage Loan Applications Continue to Fall

Summary Purchase & refinance applications drop for second week. Effective interest rate increases again. Average loan size improves slightly. Mortgage loan applications fell 4.6% (-35.0% y/y) in the week ended May 19 after declining 5.7% in the prior week. Applications were at the lowest level since the first week of...

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