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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales remained flat in September
On a MoM basis, retail sales remained unchanged in September, in the UK, less than market expectations for an advance of 0.30%. In the prior month, retail sales had registered a revised flat reading.
UK retail sales advanced less than expected in September
In September, retail sales climbed 4.10% in the UK on a YoY basis, lower than market expectations for a rise of 4.70%. In the prior month, retail sales had risen by a revised 6.60%.
ECB kept interest rate on hold
The ECB kept the key interest rate and its quantitative easing (QE) programme unchanged, as widely expected. The central bank held the main refinancing rate at 0.0%, the deposit rate at -0.4% and asset purchases at €80.0 billion a month. Further, the Governing Council expects the ECB interest rates to remain at present or lower levels for an extended period of time and the QE programme is intended to run until the end of March 2017, or beyond, if necessary.
Euro-zone current account surplus rose in August
The seasonally adjusted current account surplus in the Euro-zone expanded to €29.70 billion in August, from a revised current account surplus of €27.70 billion in the previous month.
Euro-zone current account surplus dropped in August
The non-seasonally adjusted current account surplus in the Eurozone fell to €23.60 billion in August. The Euro-zone had registered a revised current account surplus of €33.80 billion in the prior month.
German PPI recorded an unexpected drop in September
On a monthly basis, the producer price index (PPI) unexpectedly dropped 0.20% in Germany, in September, compared to a fall of 0.10% in the prior month. Market expectation was for the PPI to rise 0.20%.
German PPI dropped more than expected in September
In Germany, the PPI dropped 1.40% on a YoY basis in September, compared to a drop of 1.60% in the prior month. Markets were expecting the PPI to drop 1.20%.
Italian current account surplus narrowed in August
Current account surplus in Italy fell to €3.37 billion in August, following a current account surplus of €9.42 billion in the prior month.
Spanish trade deficit expanded in August
Trade deficit in Spain widened to €2.56 billion in August. Spain had registered a trade deficit of €0.56 billion in the previous month.
Swiss trade surplus widened in September
Trade surplus in Switzerland widened to CHF 4.37 billion in September. Switzerland had posted a revised trade surplus of CHF 3.01 billion in the prior month.
Swiss imports eased in September
Imports dropped 3.30% in Switzerland on a monthly basis, in September. Imports had fallen by a revised 3.90% in the prior month.
Swiss exports climbed in September
On a monthly basis, exports rose 4.30% in September, in Switzerland. Exports had dropped by a revised 1.90% in the prior month.
US leading indicator advanced as expected in September
In the US, leading indicator advanced 0.20% on a monthly basis in September, compared to a drop of 0.20% in the prior month. Market expectation was for leading indicator to advance 0.20%.
US continuing jobless claims advanced in the last week
The seasonally adjusted continuing jobless claims recorded a rise to 2057.00 K in the US, in the week ended 08 October 2016, compared to market expectations of a rise to 2053.00 K. Continuing jobless claims had recorded a revised level of 2050.00 K in the previous week.
US existing home sales rose in September
In the US, existing home sales recorded a rise of 3.20%, on monthly basis, to a level of 5.47 million in September, compared to market expectations of 5.35 million. Existing home sales had registered a revised reading of 5.30 million in the prior month.
US Philadelphia Fed manufacturing index fell in October
Philadelphia Fed manufacturing index in the US registered a drop to 9.70 in October, higher than market expectations of a fall to 5.00. Philadelphia Fed manufacturing index had recorded a reading of 12.80 in the previous month.
US initial jobless claims advanced in the last week
The seasonally adjusted initial jobless claims advanced to 260.00 K in the week ended 15 October 2016, in the US, higher than market expectations of an advance to a level of 250.00 K. Initial jobless claims had registered a revised level of 247.00 K in the previous week.
Japanese machine tool orders eased in September
The final machine tool orders in Japan registered a drop of 6.30% on an annual basis, in September. Machine tool orders had dropped 8.40% in the previous month. The preliminary figures had also recorded a fall of 6.30%.
Japanese nationwide department store sales recorded a drop in September
In September, on a YoY basis, nationwide department store sales in Japan fell 5.00%. Nationwide department store sales had registered a drop of 6.00% in the previous month.
Japanese convenience store sales dropped in September
In Japan, convenience store sales eased 0.01% on an annual basis, in September. Convenience store sales had climbed 0.60% in the prior month.
Japanese Tokyo department store sales recorded a drop in September
Tokyo department store sales in Japan eased 3.40% on a YoY basis, in September. Tokyo department store sales had fallen 5.90% in the previous month.
Chinese MNI business sentiment index fell in October
The MNI business sentiment index in China eased to 52.20 in October, compared to a level of 55.80 in the prior month.
Chinese house price index registered a rise in September
The house price index registered a rise of 4.30% in China on an annual basis, in September. The house price index had climbed 9.20% in the previous month.
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