In US economic news this Friday, the final US composite PMI for the month of May will be released at 3:45 p.m. (consensus 60.5 for the manufacturing index and 64.5 for services). It should therefore mark a very clear expansion of activity in the United States in May.
The resales of existing homes in the USA for the month of April will be published at 4 pm by the National Association of Realtors (consensus at the rate of 6.085 million).
The Fed’s Robert Kaplan and Mary Daly speak during the day, as ‘Minutes’ from the latest FOMC meeting confirmed on Wednesday that voting members have started … to consider the idea of discussing ‘tapering’, a term for the decrease in the Fed’s bond asset purchases currently amounting to $ 120 billion per month.
Elsewhere in the world on Friday, UK retail sales came out extremely solid in April, up 9.2% from the previous month against + 4.5% consensus.
The European PMI indicators unveiled this morning, for their part, came out contrasted but in clear expansion overall (flash readings for the month of May). In France, the manufacturing indicator stood at 59.2 and the services index at 56.6, two readings above expectations. In Germany, the manufacturing indicator was 64, slightly less robust than expected, while the services index was 52.8, close to expectations. The European manufacturing index reached 62.8 and the services index was 55.1, beating the consensus.
–
