G3 Recap 4-28-11

Main Items:

  • US Initial Jobless Claims increased to 429k last week vs 395k expected and 403k previously. It is possible the Easter holiday had an impact.
  • US 1Q GDP rose 1.8% SAAR vs 2.0% expected and 3.1% previously. Personal Consumption was stronger than expected at 2.7%. Government expenditure fell 5.2%, (driven by defense) which took down the headline GDP growth rate by 1.1%.
  • RBNZ kept rates unchanged as expected.

Overseas:

  • German UE declined -37k in April as expected
  • Italian Business Confidence declined to 103 in April vs 103.5 expected and 103.8 previously

Commentary:

Advertisements