Global steel production continued its double-digit growth in April. According to figures from the sector organisation World Steel Association, the 64 steel-producing countries produced 169.5 million tonnes of steel in April, an increase of 23.3% on an annual basis. In March, production increased with 15.2% on an annual basis.
The manufacturing and service sectors in the United States experienced record growth in May. Preliminary figures from Markit Economics show that the purchasing managers’ index for the services sector increased to 70.1 this month from 64.7 in April. The manufacturing index improved to 61.5 in May from 60.5 in April. An index position of more than 50 indicates growth.
The German economy contracted in the first quarter. The final figures from the German statistics office Destatis show that gross domestic product decreased by 1.8% on a quarterly basis. On an annual basis, GDP decreased with 3.1%.
The 6M Euribor increased with 1 basis point to -0.51% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.15% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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