Figures published by the research firm Markit, showed that the US industry has grown at a lower rate in April 2016. The PMI, the index which reflects industrial production, fell from 51.5 in March 2016 to 50.8 in April 2016, compared to an expected level of 51.0. In contrast, the European industrial production grew at a faster rate in April 2016. The European PMI rose from 51.5 to 51.7, compared to 51.5 as was expected.
Oil production by OPEC countries increased in April 2016 to 32.64 million barrels per day. These figures were published by Reuters. The oil production is now again approaching the highest production level in recent years. Partly as a result of these figures, the price of Brent crude oil decreased by 3%.
The financial position of Dutch pension funds improved slightly last month. The average coverage ratio increased from 96% in March 2016 to 97% in April 2016. This increase is partly due to higher long term interest rates. The policy coverage, the average coverage ratio in the past 12 months, remained stable at 102%. The minimum requirement for the policy coverage ratio is 105%.
The 6M Euribor remained unchanged at -0.14%. The 10Y Swap remained unchanged at 0.66%.
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