UK mortgage approvals rose to a 15-month high in April despite higher borrowing costs, data from the Bank of England showed Tuesday. Mortgage approvals unexpectedly increased to 65,945 in April from 63,979 in the previous month. This was the highest since January 2025 and was above forecast of 62,000.
Cyprus' economic growth rate moderated in the first quarter of 2026, as estimated initially. Gross domestic product advanced a seasonally adjusted 3.0 percent year-on-year, slower than the 4.3 percent increase in the fourth quarter. On the production side, the annual growth in agriculture, forestry, and fishing eased to 0.1 percent from 1.0 percent.
Greece's manufacturing growth rebounded in May amid faster expansions in output and new orders despite facing inflationary pressures. The manufacturing Purchasing Managers' Index climbed to 53.3 in May from 52.4 in the previous month. A reading above 50.0 indicates expansion. Both output and new orders gained growth momentum in May, led by stronger demand and successful outreach to new customers.
Consumer price inflation in Croatia eased in May from a 30-month high in the prior month. The consumer price index climbed 5.2 percent year-on-year in May, slower than the 5.8 percent rise in April, which was the highest inflation since October 2023. The overall price growth in May was largely driven by a 16.9 percent surge in energy costs.
Euro area inflation accelerated to the highest since 2023 in May as the Middle East conflict continue to push energy prices higher and the rising price pressures strengthened the chances of an interest rate hike from the European Central Bank next week. Inflation rose to 3.2 percent in May from 3.0 percent in April, flash data from Eurostat showed Tuesday.
Hong Kong's retail sales growth moderated for the second straight month in April. The value of retail sales grew 8.6 percent year-on-year in April, slower than the 12.8 percent surge in March. Sales of consumer durable goods continued to grow sharply by 26.2 percent from last year, and those of jewelry, watches and clocks, and valuable gifts rose by 19.8 percent.
Austria's consumer price inflation increased further in May to the highest level in five months. The consumer price index climbed 3.7 percent year-over-year in May, faster than the 3.4 percent increase in April. The upward trend in inflation was largely attributed to higher costs for services, with the corresponding inflation rising to 4.4 percent from 4.1 percent in April.
Hungary's economy expanded at a faster pace in the first quarter of 2026, as estimated initially. On an unadjusted basis, gross domestic product rose 1.7 percent annually in the March quarter, following a 0.8 percent expansion in the fourth quarter. The expenditure breakdown showed that final consumption expenditure of households grew 4.9 percent, and government consumption was 5.4 percent higher.
Spain's unemployment declined less than forecast in May, data from the labor ministry showed Tuesday. The number of unemployed persons decreased 36,323 to 2.32 million in May. Economists had forecast a sharp decline of 56,800. Compared to last year, unemployment fell 134,162. Unemployment decreased...
Switzerland's foreign trade surplus grew in April as exports rose amid a fall in imports. The trade surplus rose to CHF 3.2 billion in April from CHF 2.6 billion in March. Exports increased slightly by 0.1 percent monthly in March, while imports declined by 3.0 percent. Exports of machines, electronics, and appliances advanced 5.5 percent.
Ireland's manufacturing activity grew at the strongest pace in four years in May, survey results published by S&P Global showed Tuesday. The AIB manufacturing Purchasing Managers' Index rose to 55.9 from 54.9 in April. A score above 50.0 indicates expansion. The improvement was driven by the strongest...
Dutch consumer price inflation increased further in May to the highest level in just over a year amid soaring energy costs. Consumer prices logged an annual increase of 3.5 percent in May, faster than the 2.8 percent rise in April. A 9.9 percent surge in energy costs, including motor fuels, primarily drove the upward trend in inflation. On a monthly basis, consumer prices edged up 1.1 percent.
Flash inflation from the euro area and mortgage approvals from the UK are the top economic news due on Tuesday. At 3.00 am ET, Spain's labor agency is scheduled to publish unemployment data for May. Unemployment is forecast to decline 56,800 compared to a drop of 62,700 in April.
The total number of building approvals issued in Australia was down a seasonally adjusted 3.4 percent on month in April, the Australian Bureau of Statistics said on Tuesday - coming in at 16,710. Approvals for private sector houses dipped 1.0 percent on month to 10,088, while approvals for private...
Australia posted a seasonally adjusted current account deficit of A$27.1 billion in the first quarter of 2026, the Australian Bureau of Statistics said on Tuesday. That missed forecasts for a shortfall of A$23.1 billion following the downwardly revised A$23.0 billion deficit in the previous three...
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.