IMF Chief Speaks to UK Voters on Brexit Risks

Economic data from New Zealand continues to pick up steam following the first quarter GDP results last week. Manufacturing continued to expand in May at an accelerated pace, data from Business NZ showed on Friday. The index expanded to 57.1 - higher than April's 56.6 and still safely above 50, indicating expansion in the sector. Within the manufacturing index, production jumped to 61.1 and new orders in the manufacturing sector expanded to 59.90. The upbeat numbers continue to positive GDP expectations in the second quarter of 2016.

 

Construction of new residential properties in the US fell -0.30% in May, according to data from the US Commerce Department. The report showed that housing starts edged lower to an annually adjusted rate of 1.164 million in May, down from 1.167 million in April. Economists were expecting to see a -1.90% decline on the month. In a separate report, building permits, which record the number of new permits issued by the government grew at a modest pace of 0.70% in May, lower than analyst forecasts and April's revised 4.90% monthly increase.