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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB Chief signalled potential for further policy action in March
The governing council of the ECB kept its benchmark main refinancing rate and deposit rate unchanged at 0.05% and -0.30%, respectively. At a news conference, the ECB President Mario Draghi stated that the additional stimulus measures undertaken by the central bank last month were appropriate and effective given the macro economic conditions then. He noted that as the New Year has begun, downside risks have increased again amid volatility in financial markets and geopolitical risks. And therefore he called out for review and possible reconsideration of the ECB’s monetary policy stance at its next meeting in March.
Euro-zone consumer confidence index dropped surprisingly in January
In the Euro-zone, the preliminary consumer confidence index registered an unexpected drop to a level of -6.30 in January, compared to a level of -5.70 in the prior month. Markets were anticipating the consumer confidence index to record a flat reading.
French production outlook indicator recorded a rise in January
The production outlook indicator climbed to 2.00 in France, in January, compared to a level of 0.00 in the prior month.
French business survey overall demand declined in January
Business survey overall demand in France dropped to 2.00 in January. Business survey overall demand had registered a revised level of 4.00 in the previous month.
French own-company production outlook advanced in January
In January, own-company production outlook in France registered a rise to 10.00, compared to a revised level of 9.00 in the previous month.
French industrial business climate index recorded a rise in January
Compared to a reading of 101.00 in the previous month the industrial business climate index climbed to 102.00 in France, in January. Markets were anticipating the industrial business climate index to advance to a level of 102.00.
Swiss M3 money supply advanced in December
M3 money supply registered a rise of 1.60% in Switzerland on a YoY basis, in December. In the prior month, M3 money supply had risen by a revised 2.10%.
US initial jobless claims climbed unexpectedly in the last week
In the week ended 16 January 2016, the seasonally adjusted initial jobless claims climbed unexpectedly to 293.00 K in the US, compared to market expectations of a fall to a level of 278.00 K. Initial jobless claims had recorded a revised level of 283.00 K in the prior week.
US continuing jobless claims slid in the last week
The seasonally adjusted continuing jobless claims dropped to 2208.00 K in the US, in the week ended 09 January 2016, lower than market expectations of a drop to a level of 2250.00 K. Continuing jobless claims had recorded a revised level of 2264.00 K in the prior week.
US Philadelphia Fed manufacturing index registered a rise in January
In January, Philadelphia Fed manufacturing index in the US climbed to -3.50, higher than market expectations of a rise to -5.90. Philadelphia Fed manufacturing index had recorded a revised reading of -10.20 in the previous month.
Japanese all industry activity index declined more than expected in November
The all industry activity index in Japan dropped 1.00% in November on a MoM basis, more than market expectations for a fall of 0.70%. In the previous month, the all industry activity index had risen by a revised 0.90%.
Japanese supermarket sales remained steady in December
In Japan, supermarket sales remained steady on a YoY basis, in December. In the prior month, supermarket sales had recorded a drop of 1.00%.
Japanese manufacturing PMI slid surprisingly in January
In Japan, the flash manufacturing PMI fell unexpectedly to 52.40 in January, lower than market expectations of a rise to a level of 52.80. Manufacturing PMI had registered a reading of 52.60 in the previous month.
Chinese MNI business sentiment index dropped in January
In China, the MNI business sentiment index recorded a drop to 52.30 in January, compared to a level of 52.70 in the previous month.
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