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MNI Global Morning Briefing

MNI (London)
     LONDON (MNI) - The BOE publishes data on M4 money supply and Lending to
individuals at 0930BST. The rest of Europe is quiet because of Labour Day on the
1st of May. In the US, the publication of the ISM Manufacturing Index and data
on construction, both at 1500BST, will be closely watched.
     Increasing Lending in the UK
     March's reading of M4 money supply was 0.3% m/m and 1.2% y/y.
     March's values for net lending on dwelling was GBP 3.5bn and according to
the MNI median net lending on dwellings rises to GBP 3.6bn. Mortgage approvals
are expected to increase to 64,800 in April after a reading of 64,300 in March.
Net consumer credit registered at GBP 1.1bn in March and is anticipated to fall
to GBP 1.0bn.
     ISM Manufacturing Index about to fall?
     The US ISM manufacturing index is expected to tick down slightly to a
reading of 55.2 in April after a March increase. Regional conditions data have
been generally to the downside.
     The value of construction spending is expected to rise by only 0.2% in
March after a 1.0% gain in February, which was led by private residential
construction and public construction.
     The highlights in terms of speeches are ECB policymakers Nowotny and Praet,
both speaking at the OeNB in Vienna.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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