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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB’s Draghi: Current levels of monetary support needed despite economy’s resilience
The European Central Bank (ECB) President, Mario Draghi, in his statement to the European Parliament, indicated that the Euro-zone is recovering at a “moderate to steady pace and unemployment is falling”, but the central bank still relies on the continuation of the current unprecedented level of monetary support to help the Euro-zone inflation rate return towards the bank’s 2.0% target. Draghi also repeated his call for fiscal policies to support the region’s economic recovery.
Spanish trade deficit slid in September
Trade deficit in Spain narrowed to €2.23 billion in September. Spain had registered a trade deficit of €2.56 billion in the prior month.
Swiss M3 money supply advanced in October
M3 money supply in Switzerland advanced 2.90% on an annual basis, in October. M3 money supply had climbed 3.00% in the prior month.
US Chicago Fed national activity index recorded a rise in October
The Chicago Fed national activity index rose to a level of -0.08 in the US, in October. In the prior month, the Chicago Fed national activity index had recorded a revised level of -0.23.
Canadian wholesale sales surprisingly fell in September
In September on a monthly basis, wholesale sales in Canada recorded an unexpected drop of 1.20%, less than market expectations for an advance of 0.50%. In the prior month, wholesale sales had advanced 0.80%.
Japanese all industry activity index climbed unexpectedly in September
In September, the all industry activity index registered an unexpected rise of 0.20% in Japan, on a MoM basis, higher than market expectations for a steady reading. The all industry activity index had registered a similar rise in the prior month.
Japanese supermarket sales advanced in October
On an annual basis, supermarket sales registered a rise of 0.60% in October, in Japan. In the prior month, supermarket sales had fallen 3.20%.
Japanese convenience store sales registered an unexpected rise in October
In October, convenience store sales unexpectedly rose 0.20% in Japan on a YoY basis, more than market expectations for a steady reading. In the previous month, convenience store sales had recorded a flat reading.
Chinese leading economic index advanced in October
In China, the leading economic index climbed 0.80% on a monthly basis, in October. The leading economic index had risen 1.10% in the prior month.
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