US factory orders plunged in April, adding to signs that manufacturers are struggling amid a stronger Greenback and cheaper oil. Orders dropped 0.4% in April, marking the eighth decrease in nine months, the Commerce Department reported.
For the first time this year, consumer prices across the 19-country currency bloc edged higher, easing fears that the Euro zone is set for a prolonged Japan-style era of deflation.
The Reserve Bank of Australia decided to keep interest rates unchanged, in line with analysts' expectations, opting to hold rather than risk further fuelling house price inflation in Sydney.
UK manufacturing activity rebounded in May after sliding to the lowest level in seven months in April, but strong domestic demand was largely offset by sluggish exports.
US manufacturing activity growth accelerated in May for the first time in six months, supported by more new orders as well as an increase in hiring.
Spanish and Italian factories led a pick-up in the Euro zone manufacturing activity in May, while German consumer inflation climbed at the fastest pace in eight months as the European Central Bank's new stimulus programme yielded early results.
After announcing an acceleration of money printing to boost bond buying before liquidity dries up during Europe's summer vacation period in July and August, the ECB slowed its weekly pace of purchases.
New Zealand business confidence plunged this month, with the annual Budget release being the major reason behind the worsening mood.
Canada's economy unexpectedly shrank in the first quarter, marking the first contraction in four years and the largest since the 2009 recession as falling energy prices caused a plunge in business investment.
China's manufacturing sector continued to expand, with the official gauge hitting the highest level in six months in May, adding to sings recent stimulus measures are helping to keep the world's second-largest economy on track for meeting policy makers' growth goal.
The world's number economy contracted in the first quarter depressed by brutal weather and a higher-valued Dollar.
German retail sales increased faster than expected in April, adding to signs private consumption is likely to remain a solid catalyst to economic growth in Europe's number one economy.
A set of economic data from Japan painted a mixed picture with inflation and industrial production surpassing analysts' expectations, while improved labour market failed to persuade consumers to open their wallets.
Canada's current account widened in the first quarter to the second highest level on record amid worsening trade, particularly in the energy sector.
The UK economic output rose in line with expectation in the first three months of 2015, marking the lowest growth rate since the fourth quarter of 2012.
The number of Americans applying for unemployment benefits unexpectedly jumped last week, but remained at levels consistent with an improving labour market.
The European Commission's Economic Sentiment Indicator, a measure of business and consumer confidence, was stable in May, after slightly falling in April from near the highest level in four years in March.
Dismal capex data raised concerns that Australia's transition from a mining-led economy offers nothing but hard landing, spurring bets the Reserve Bank of Australia may cut its official interest rate again soon.
Japan's retail sales rose less than expected in April compared with the previous year, suggesting a weak start to the second quarter for an economy that is struggling with a devastating effect of last year's sales-tax hike.
The Bank of Canada maintained its target for the overnight rate at 0.75% for a third consecutive meeting, underscoring that growth and inflation are in line with expectations.
Vice Chairman of Federal Reserve Stanley Fischer noted during his speech in Israel that there is too much importance placed on the first hike of federal fund rate and the process of returning back to the pre-crisis level will take some time.
Consumers' morale in Germany reached the highest level since 2001, as optimistic economic outlook and low inflation persuaded consumers to open their wallets.
While the Bank of Japan's policy makers believed private consumption would remain resilient as incomes are increasing, they expressed concerns about Japan's inflation.
UK retail sales growth soared in May, while the expectations for the next month's sales hit the highest level in almost 27 years.