Services PMI at 63.7%; March 2021 Services ISM Report On Business (Canda).
Economic activity in the services sector grew in March for the 10th month in a row, say the nation’s purchasing and supply executives in the latest Services ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “The Services PMI® registered an all-time high of 63.7 percent, 8.4 percentage points higher than the February reading of 55.3 percent. The previous high was in October 2018, when the Services PMI® registered 60.9 percent.
Yellen calls on other nations to avoid early fiscal tightening (USA)
Statement by Philip Lowe, Governor: Monetary Policy Decision (Australia)
At its meeting today, the Board decided to maintain the current policy settings, including the targets of 10 basis points for the cash rate and the yield on the 3-year Australian Government bond, as well as the parameters of the Term Funding Facility and the government bond purchase program. The rollout of vaccines is supporting the recovery of the global economy, although the recovery is uneven. While there are still considerable uncertainties regarding the outlook, the central case has improved. Global trade has picked up and commodity prices are mostly higher than at the start of the year.
Gentiloni: Confident EU Recovery Fund Legal Basis Is Strong (Euro Zone)
World Economic Outlook (Global)
Global prospects remain highly uncertain one year into the pandemic. New virus mutations and the accumulating human toll raise concerns, even as growing vaccine coverage lifts sentiment. Economic recoveries are diverging across countries and sectors, reflecting variation in pandemic-induced disruptions and the extent of policy support. The outlook depends not just on the outcome of the battle between the virus and vaccines—it also hinges on how effectively economic policies deployed under high uncertainty
UK service economy returns to growth in March, spurred by sharp rise in new orders ahead of lockdown easing (UK)
UK service providers reported a strong rebound in business conditions during March, with activity, new orders and employment all picking up since the previous month. Renewed job creation in March represented the first overall expansion of staffing numbers across the service sector since the start of the coronavirus disease 2019 (COVID-19) pandemic.
Minutes of the Federal Open Market Committee (USA)
By unanimous vote, the Committee approved a final rule that revises its Rules Regarding Availability of Information, which are the Committee’s Freedom of Information Act (FOIA) rules. The revised FOIA rules, which include a range of minor and technical updates, will become effective 30 days after the forthcoming publication of the final rule in the Federal Register.
Fed’s Evans: high home costs are partially due to a shortage of availability
EU drug regulator says AstraZeneca shot benefit outweighs the risk (Euro Zone)
Construction output expands at sharpest pace since September 2014(UK)
The recovery in UK construction output gained considerable momentum in March, supported by robust rises in house building, commercial work and civil engineering. Adjusted for seasonal influences, the IHS Markit/CIPS UK Construction Total Activity Index registered 61.7 in March, up sharply from 53.3 in February. The latest reading signalled the strongest rate of construction output growth since September 2014.
Unemployment insurance weekly claims (USA)
Powell: A brighter outlook for US economy from fiscal support, vaccines(USA)
Production in February 2021: -1.6% on the previous month (USA)
In February 2021, production in industry was down by 1.6% on the previous month on a price, seasonally and calendar adjusted basis according to provisional data of the Federal Statistical Office (Destatis).Compared with February 2020, which was the month before restrictions were imposed due to the corona pandemic in Germany, real production decreased by a calendar adjusted 6.4% in February 2021. In February 2021, production in industry excluding energy and construction was down by 1.8%.
Labour Force Survey, March 2021 (Canada)
March Labour Force Survey (LFS) data reflect labour market conditions during the week of March 14 to 20. Compared with the February 2021 reference week, public health measures were less restrictive in several provinces during the March LFS reference week. Stay-at-home orders had been lifted for all regions of Ontario by March 8, although personal care services, recreation and fitness facilities, and in-person dining remained closed in some areas, including Toronto.
- Fed Chair Powell Speaks
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- 10-y Bond Auction
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- NAB Business Confidence
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- 30-y Bond Auction
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- Unemployment Rate
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