MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BOE DMP and UK services PMI both soft

UK DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • BOE DMP: At first glance a soft report with output prices still coming down, realised and expected employment lower and expected wage growth lower.
  • Combined with the downward revision to the flash services PMI, this data together is disappointing.
  • From the press release:
    • Output prices still coming down: "Businesses expect their output price inflation to decline over the next year. Year-ahead own-price inflation was expected to be 4.1% in the three months to March, down from 4.3% in the three months to February."
    • Softer employment: "Firms reported annual employment growth of 2.0% in the three months to March, lower than the 2.3% reported in the three months to February. Expected year-ahead employment growth was 1.4% in the three months to March, down 0.2 percentage points from the three months to February."
    • Wage growth declined too: "Expected year-ahead wage growth declined to 4.9% on a three-month moving-average basis. Annual wage growth was 6.4% in the three months to March, down 0.3 percentage points from the three months to February."
163 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • BOE DMP: At first glance a soft report with output prices still coming down, realised and expected employment lower and expected wage growth lower.
  • Combined with the downward revision to the flash services PMI, this data together is disappointing.
  • From the press release:
    • Output prices still coming down: "Businesses expect their output price inflation to decline over the next year. Year-ahead own-price inflation was expected to be 4.1% in the three months to March, down from 4.3% in the three months to February."
    • Softer employment: "Firms reported annual employment growth of 2.0% in the three months to March, lower than the 2.3% reported in the three months to February. Expected year-ahead employment growth was 1.4% in the three months to March, down 0.2 percentage points from the three months to February."
    • Wage growth declined too: "Expected year-ahead wage growth declined to 4.9% on a three-month moving-average basis. Annual wage growth was 6.4% in the three months to March, down 0.3 percentage points from the three months to February."