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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales rose more than expected in October
Retail sales rose 1.90% on a monthly basis in October, in the UK, higher than market expectations for a rise of 0.50%. In the prior month, retail sales had registered a revised rise of 0.10%.
UK retail sales rose more than expected in October
Retail sales advanced 7.40% on an annual basis in the UK, in October, more than market expectations for a rise of 5.30%. In the previous month, retail sales had risen by a revised 4.20%.
Bleak ECB minutes point to further stimulus, decision to be made next month
The European Central Bank’s October monetary policy meeting minutes revealed that rate setters agreed on the need to extend its €80.0 billion a month bond-purchase program, which is due to end in March. However, the policymakers widely agreed that it was better to wait until December 2016 to get a clearer picture of the inflation outlook to form a policy view. Fears over mounting protectionism, paltry wage growth and a lack of investment were among the risks flagged in the minutes.
Euro-zone new car registrations in EU 28 countries remained flat in October
New car registrations in the EU 28 countries remained steady on an annual basis, in October, in the Euro-zone. In the previous month, new car registrations in the EU 28 countries had recorded a rise of 7.20%.
Euro-zone construction output eased in September
The seasonally adjusted construction output eased 0.90% in the Euro-zone on a monthly basis, in September. In the prior month, construction output had climbed by a revised 0.10%.
Euro-zone CPI rises less than expected in October
The consumer price index (CPI) in the Euro-zone climbed 0.20% in October on a MoM basis, lower than market expectations for an advance of 0.30%. In the previous month, the CPI had risen 0.40%.
Euro-zone core CPI rose as expected in October
In October, the final core CPI in the Euro-zone recorded a rise of 0.80% on an annual basis, compared to a similar rise in the previous month. The preliminary figures had also indicated a rise of 0.80%. Market anticipation was for the core CPI to advance 0.80%.
Euro-zone CPI rose as expected in October
The final CPI in the Euro-zone rose 0.50% on a YoY basis in October, compared to an advance of 0.40% in the previous month. The preliminary figures had indicated an advance of 0.40%. Markets were expecting the CPI to climb 0.50%.
French ILO unemployment rate climbed unexpectedly in 3Q 2016
Compared to a level of 9.90% in the prior quarter ILO unemployment rate rose unexpectedly to 10.00% in France, in 3Q 2016. Market anticipation was for ILO unemployment rate to record a steady reading.
Italian trade surplus rose in September
Trade surplus in Italy expanded to €0.78 billion in September. Italy had posted a revised trade surplus of €0.37 billion in the previous month.
Janet Yellen signalled that the Fed could raise interest rates ‘relatively soon’
The Federal Reserve (Fed) Chairwoman, Janet Yellen, in her testimony before the Joint Economic Committee, confirmed investors’ view that the US economy is strong enough to withstand an interest-rate rise soon. She further stated that holding off on a rate increase for too long could force the Fed to raise rates abruptly in the future to keep the economy from overheating. However, she reiterated that the bank expects to raise rates gradually over the next few years.
US CPI (ex-food & energy) rose less than expected in October
The CPI (ex-food & energy) in the US recorded a rise of 0.10% in October on a MoM basis, lower than market expectations for a rise of 0.20%. In the prior month, the CPI (ex-food & energy) had registered a similar rise.
US building permits registered an unexpected rise in October
Building permits registered an unexpected rise of 0.30%, on MoM basis, to an annual rate of 1229.00 K in October, in the US, compared to a reading of 1225.00 K in the prior month. Market expectation was for building permits to fall to 1193.00 K.
US CPI advanced as expected in October
On a MoM basis, the CPI climbed 0.40% in the US, in October, in line with market expectations. In the prior month, the CPI had recorded a rise of 0.30%.
US CPI rose as expected in October
On a YoY basis, the CPI recorded a rise of 1.60% in October, in the US, at par with market expectations. The CPI had recorded a rise of 1.50% in the prior month.
US CPI (ex-food & energy) rose less than expected in October
On an annual basis, the CPI (ex-food & energy) in the US registered a rise of 2.10% in October, compared to a rise of 2.20% in the prior month. Market expectation was for the CPI (ex-food & energy) to climb 2.20%.
US CPI registered a rise in October
The non-seasonally adjusted CPI in the US recorded a rise to 241.73 in October, compared to market expectations of an advance to 241.75. In the previous month, the CPI had registered a reading of 241.43.
US Philadelphia Fed manufacturing index declined in November
In November, Philadelphia Fed manufacturing index in the US recorded a drop to 7.60, lower than market expectations of a fall to a level of 7.80. Philadelphia Fed manufacturing index had recorded a level of 9.70 in the previous month.
US initial jobless claims slid unexpectedly in the last week
In the US, the seasonally adjusted initial jobless claims registered an unexpected drop to 235.00 K in the week ended 12 November 2016, compared to market expectations of a rise to a level of 257.00 K. Initial jobless claims had recorded a reading of 254.00 K in the previous week.
US core CPI climbed in October
The seasonally adjusted core CPI rose to a level of 248.98 in the US, in October, lower than market expectations of an advance to a level of 249.06. In the prior month, the core CPI had recorded a level of 248.61.
US housing starts registered a rise in October
Housing starts rose 25.50%, on MoM basis, to an annual rate of 1323.00 K in October, in the US, compared to a revised level of 1054.00 K in the prior month. Market anticipation was for housing starts to climb to 1156.00 K.
US continuing jobless claims registered a drop in the last week
The seasonally adjusted continuing jobless claims in the US registered a drop to 1977.00 K in the week ended 05 November 2016, compared to a revised reading of 2043.00 K in the previous week. Markets were anticipating continuing jobless claims to drop to 2030.00 K.
Foreign investors became net buyers of Canadian securities in the previous month
Foreign investors were net buyers of C$11.77 billion worth of Canadian securities in September, from being net buyers of a revised C$12.75 billion worth of Canadian securities in the previous month.
Canadian investors remained net buyers of foreign securities in the previous month
Canadian investors remained net buyers of C$1.80 billion worth of foreign securities in September, as compared to being net buyers of C$1.60 billion worth of foreign securities in the previous month.
Chinese house price index advanced in October
In China, the house price index recorded a rise of 12.30% on a YoY basis, in October. In the previous month, the house price index had registered a rise of 11.20%.
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