China Manufacturing PMI Slips in April

Preliminary inflation estimates from France for April showed a 0.10% increase in April on a month over month basis according to data released by the French statistics agency Insee on Friday. Despite the month over month increase, French consumer prices were down 0.20% on a year over year basis, missing forecasts of a 0.20% increase on the month and a 0.10% decline on a year over year basis. Consumer prices fell with a decline in manufacturing goods. The decline in the French CPI comes following weak consumer prices in Germany released on Thursday. The harmonized measure of consumer inflation fell 0.10% on the year posting a third month of consecutive declines.

The Canadian economy showed signs of easing back after the monthly GDP report showed the economy contracting for the first time in five months. Data from Statistics Canada released on Friday showed that Canada's monthly GDP fell 0.10% in February following a 0.60% increase in January. On a year over year basis, Canada's GDP rose 1.50% on the month. In a separate report, Canada PPI declined in March with lower prices for motorized and recreational vehicles. Data from Statistics Canada showed the PPI falling 0.60% in March, missing forecasts of a 0.50% increase. The previous month's data was also revised showing the PPI declining 1.0% against previous estimates of a 1.10% decline. On a year over year basis, Canada's PPI fell 2.10% on the month.