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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Mark Carney defended BoE actions
During a testimony at House of Lords, the Bank of England (BoE) Governor, Mark Carney, defended the monetary policy pursued by the central bank in recent years and stated that the BoE’s efforts has had a positive impact on Britain’s economy that is “without parallel”.
Mario Draghi stressed commitment to low rates until inflation target is met
The European Central Bank (ECB) President, Mario Draghi, defended the central bank’s actions by stating that the ECB’s aggressive bond buying programme and ultra-low rates haven’t harmed German households. He further reiterated that the ECB would keep its policies in place until it reaches its goal of keeping inflation just below 2.0%.
German Ifo business expectations index surprisingly advanced in October
The Ifo business expectations index in Germany registered an unexpected rise to 106.10 in October, compared to a level of 104.50 in the previous month. Markets were anticipating the Ifo business expectations index to record a flat reading.
German Ifo current assessment index climbed in October
In October, the Ifo current assessment index in Germany advanced to 115.00, compared to a reading of 114.70 in the prior month. Markets were anticipating the Ifo current assessment index to rise to a level of 114.90.
German Ifo business climate index advanced in October
Compared to a reading of 109.50 in the previous month the Ifo business climate index climbed to 110.50 in Germany, in October. Market anticipation was for the Ifo business climate index to rise to 109.60.
French production outlook indicator fell surprisingly in October
In October, the production outlook indicator in France registered an unexpected drop to a level of 2.00, compared to market expectations of a rise to 8.00. The production outlook indicator had registered a revised reading of 6.00 in the previous month.
French business survey overall demand registered a drop in October
Compared to a revised level of 14.00 in the prior month business survey overall demand registered a drop to 4.00 in France, in October.
French industrial business climate index remained unchanged in October
The industrial business climate index remained steady at a level of 101.00 in France, in October, compared to market expectations of a rise to 102.00.
French own-company production outlook remained steady in October
Own-company production outlook remained flat at a level of 9.00 in October, in France, meeting market expectations.
Italian industrial sales recorded a rise in August
In Italy, the non-seasonally adjusted industrial sales registered a rise of 6.80% in August on a YoY basis. In the previous month, industrial sales had fallen by a revised 0.50%.
Italian industrial sales registered a rise in August
In August, on a monthly basis, the seasonally adjusted industrial sales climbed 4.10% in Italy. In the prior month, industrial sales had climbed by a revised 2.30%.
Italian industrial orders advanced in August
On a monthly basis, the seasonally adjusted industrial orders in Italy recorded a rise of 10.20% in August. Industrial orders had recorded a revised drop of 10.40% in the previous month.
Italian industrial orders recorded a rise in August
In Italy, the non-seasonally adjusted industrial orders climbed 15.90% in August on an annual basis. In the prior month, industrial orders had fallen 11.80%.
Spanish PPI recorded a rise in September
The producer price index (PPI) climbed 0.30% on a MoM basis in Spain, in September. The PPI had registered a revised drop of 0.30% in the previous month.
Spanish PPI declined in September
The PPI eased 2.00% on a YoY basis in Spain, in September. In the previous month, the PPI had fallen 3.10%.
US CB consumer confidence index registered a drop in October
In the US, the CB consumer confidence index fell to a level of 98.60 in October, compared to a revised level of 103.50 in the prior month. Markets were anticipating the CB consumer confidence index to fall to a level of 101.50.
US economic optimism index recorded a rise in October
The economic optimism index recorded a rise to 51.30 in the US, in October, compared to market expectations of an advance to 47.50. In the prior month, the economic optimism index had registered a reading of 46.70.
US Redbook index registered a drop in the last week
The seasonally adjusted Redbook index registered a drop of 0.10% in the US on a monthly basis, in the week ended 21 October 2016. In the previous week, the Redbook index had recorded a flat reading.
US S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas advanced more than expected in August
The S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas registered a rise of 5.13% on a YoY basis in August, in the US, more than market expectations for a rise of 5.00%. In the previous month, the S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas had recorded a revised rise of 4.98%.
US S&P/Case-Shiller composite index of 20 metropolitan areas advanced more than expected in August
On a monthly basis, the seasonally adjusted S&P/Case-Shiller composite index of 20 metropolitan areas in the US rose 0.24% in August, higher than market expectations for a rise of 0.10%. In the prior month, the S&P/Case-Shiller composite index of 20 metropolitan areas had risen by a revised 0.02%.
US housing price index rose more than expected in August
On a monthly basis, the housing price index in the US rose 0.70% in August, compared to a rise of 0.50% in the prior month. Markets were expecting the housing price index to climb 0.40%.
US Redbook index registered a rise in the last week
In the US, the Redbook index climbed 0.30% on an annual basis, in the week ended 21 October 2016. The Redbook index had climbed 1.00% in the previous week.
US Richmond Fed manufacturing index registered a rise in October
In the US, the Richmond Fed manufacturing index advanced to -4.00 in October, in line with market expectations. The Richmond Fed manufacturing index had registered a reading of -8.00 in the previous month.
US S&P/Case-Shiller home price index recorded a rise in August
The S&P/Case-Shiller home price index in the US recorded a rise to 191.66 in August, compared to a revised reading of 190.85 in the previous month.
Japanese corporate service price index rose more than expected in September
In September, on a YoY basis, the corporate service price index advanced 0.30% in Japan, compared to a rise of 0.20% in the previous month. Markets were expecting the corporate service price index to rise 0.20%
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