US Fed keeps policy on hold

As expected, the US Fed kept policy on hold at its June meeting, worried about signs of a weakening labour market in particular.

UK retailers enjoy spring surge in sales

UK retail sales surged higher in May in a sign that consumer spending continues to boost the economy.

Global all-industry output loses growth momentum amid slowdowns in manufacturing and services

Although the global economy remained in expansion mode during May, a subdued trend in output growth prevailed, with the rate of expansion being among the slowest in over three-and-a-half years. Sector data highlighted intermediate goods as the weakest link in manufacturing, where a renewed slump in production was recorded to suggest that other manufacturers were pulling back on their purchases of components. In services, the overall slowdown was reflective of stagnant activity at consumer-facing service providers.

UK unemployment falls to lowest in over a decade, but job creation slows

News of better than expected health of the labour market in April suggests that employment is holding up despite signs that the economy is in the midst of a soft patch.

UK construction upturn in April belies weakening building sector trend

As with the better than expected official manufacturing data for April, official construction data paint a brighter picture of the economy at the start of the second quarter than the business surveys. But dig deeper and there's good reason to treat the better news with caution. The underlying trend in fact appears to be one of weakening output, albeit to some extent due to what will hopefully be temporary uncertainty surrounding the EU referendum.

Nigeria PMI signals renewed downturn as recession looms

Recent data releases suggest that Nigeria is at risk of sliding into recession. After GDP figures published last month showed that the economy had contracted over the first quarter, the Stanbic IBTC Bank PMI signalled a downturn for the third time in four months during May. With inflation, currency weakness and fuel shortages all depressing the economy, Nigeria looks unlikely to escape recession in the second quarter.

UK factory output surges in April, but surveys cast doubt on sector's resilience

The UK manufacturing sector enjoyed its strongest expansion since July 2012 at the start of the second quarter, according to the Office for National Statistics, but any sparkle looks to be short-lived.