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2013-03-04
Economic Updates


On a seasonally adjusted basis, South Africa’sKagiso PMI rose to a reading of 53.60 in February, the first reading above the 50.00 level since August 2012 and compared to a reading of 49.10 recorded in the preceding month.

The Bank of England reported that, mortgage approvals in the UK fell unexpectedly to 54,719 approvals in January, from a downwardly revised 55,632 approvals in December.

NationwideBuilding Societyreported that, on a seasonally adjusted monthly basis, house prices in the UK rose 0.2% in February, following a 0.5% gain recorded in January. 

Markit Economics reported that, on a seasonally adjusted basis, manufacturing PMI in the UK retreated to a reading of 47.90 in February, from a downwardly revised reading of 50.50 in January.

The Lloyds business sentiment index in the UK has declined to a reading of 13.00 in February compared to a reading of 15.00 posted in January.

On a monthly basis, real retail sales in Germany advanced 3.1% in January, compared to a downwardly revised 2.1% drop in the previous month.

Markit Economics reported that, on a seasonally adjusted basis, manufacturing PMI in Germany rose to a reading of 50.30 in February, following a reading of 49.80 in January.

The PMI for manufacturing in France climbed to a reading of 43.90 in February, slightly higher than the flash reading of 43.60, and compared to a reading of 42.90 in January.

On a seasonally adjusted basis, manufacturing PMI in the eurozone stood unchanged at 47.90 in February, slightly higher than the preliminary estimates for a reading of 47.80.

On a seasonally adjusted unemployment rate in the eurozone, rose to 11.9% in January, from a revised 11.8% in December.

On an annual basis, consumer price index preliminary estimate in the eurozone eased 1.8% in February, to the the lowest level since August 2010 andfrom a rate of 2.0% in January.

Thomson Reuters and the University of Michigan reported that, the final reading of consumer sentiment index in the US came in at 77.60 in February, compared to a flash reading of 76.30.

The Institute for Supply Management reported that, its PMI for manufacturing in the US rose to a reading of 54.20 in February, to the highest level since June 2011 and from a reading of 53.10 in January.

Personal income in the US tumbled 3.6% in January, compared to a 2.6% growth in December. Personal spending edged up 0.2% in January, following a 0.1% rise in December.

The US Federal Reserve Chairman, Ben Bernanke, has supported the central bank’s low interest rate regime and indicated that a premature withdrawal of the current accommodative monetary policy might damage economic growth.

The non-manufacturing PMI in China has declined to a reading of 54.50 in February compared to a reading of 56.20 reported in the previous month.

Thank you ANchor Capital


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