US flash PMI downturn dampens second quarter rebound hopes

Hopes of US economic growth rebounding in the second quarter were dealt a blow by weak flash PMI data from Markit. A slowdown in the pace of growth signalled by the May surveys suggests the US economy could see GDP rise at a disappointing rate similar to that recorded in the opening quarter of the year.

UK consumers prop up ailing economy in first quarter

Updated official data confirm that the pace of UK economic growth slowed in the opening quarter of the year; a trend which survey data maintained into the spring.

UK house prices show signs of cooling after three-year surge

UK house prices fell 0.8% in April, according to the Halifax House Price Index. The fall followed a 2.2% surge in March, and still leaves home prices some 9.2% higher than a year ago. That's nevertheless a cooling in the annual rate of increase to the lowest since November of last year, suggesting that house price inflation may be starting to moderate

US flash manufacturing PMI sinks to lowest since September 2009

Disappointing flash manufacturing PMI data cast doubt on the ability of the US economy to rebound from its weak start to the year. The seasonally adjusted Markit Flash US Manufacturing PMI™ sank to 50.5 in May, down from 50.8 in April, its lowest since September 2009.

Japan flash manufacturing PMI signals steepening export-led downturn

PMI data point to Japan's all-important manufacturing economy suffering its steepest downturn since late 2012. The Nikkei Flash Japan Manufacturing PMI fell from 48.2 in April to 47.6 in May, its lowest since December 2012.

Eurozone flash PMI weakness fuels concerns over second quarter slowdown

A disappointing flash eurozone PMI for May adds further to the suggestion that the robust pace of economic growth seen in the first quarter will prove temporary.

Nigeria's economic worries mount as inflation hits near six-year high

Nigerian inflation accelerated to the fastest in almost six years during April, according to CPI figures released earlier today by the National Bureau of Statistics. Consumer prices rose 13.7% on an annual basis, up from 12.8% in March. The latest pick-up in price pressures was the sixth in as many months.