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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE warns of elevated risks for UK’s financial stability
The Bank of England (BoE) in its half-yearly Financial Stability Report, indicated that the likelihood of risks to Britain’s financial stability “remains elevated” following the Brexit vote and is largely dependent on an orderly exit from the European Union. It further warned that the US election outcome has “reinforced existing vulnerabilities” in UK’s financial system.
Euro-zone core CPI rose as expected in November
In November, the preliminary core consumer price index (CPI) in the Eurozone advanced 0.80% on a YoY basis, in line with market expectations. In the previous month, the core CPI had registered a similar rise.
Euro-zone CPI rose as expected in November
In November, the flash CPI in the Euro-zone recorded a rise of 0.60% on a YoY basis, compared to a rise of 0.50% in the prior month. Markets were anticipating the CPI to climb 0.60%.
German number of people unemployed registered a drop in November
The number of people unemployed eased 5.00 K in Germany, in November. The number of people unemployed had recorded a drop of 13.00 K in the previous month.
German retail sales advanced in October
In October, on a MoM basis, retail sales in Germany recorded a rise of 2.40%. Retail sales had registered a revised drop of 1.50% in the previous month.
German unemployment rate remained steady in November
In November, the seasonally adjusted unemployment rate in Germany remained steady at a level of 6.00%.
German retail sales recorded a drop in October
On a YoY basis, retail sales in Germany fell 1.00% in October. Retail sales had advanced by a revised 0.60% in the prior month.
French PPI recorded a rise in October
In October, on a monthly basis, the producer price index (PPI) rose 0.80% in France. In the previous month, the PPI had registered a revised rise of 0.30%.
French EU normalised CPI unexpectedly slid in November
In November, the preliminary EU normalised CPI unexpectedly eased 0.10% on a MoM basis in France, compared to a flat reading in the prior month. Markets were anticipating EU normalised CPI to record an unchanged reading.
French CPI (ex-tobacco) remained steady in November
In November, the flash CPI (ex-tobacco) in France, remained unchanged on a MoM basis, higher than market expectations for a fall of 0.10%. The CPI (ex-tobacco) had recorded a flat reading in the prior month.
Italian CPI declined less than expected in November
In November, the flash CPI dropped 0.10% on a monthly basis in Italy, compared to a similar fall in the previous month. Market expectation was for the CPI to ease 0.20%.
Italian PPI declined in October
The PPI slid 0.20% on a monthly basis in Italy, in October. The PPI had registered a drop of 0.10% in the previous month.
Italian EU normalised CPI declined as expected in November
In November, the preliminary EU normalised CPI 0.20% on a MoM basis in Italy, in line with market expectations. The EU normalised CPI had advanced 0.20% in the prior month.
Italian PPI fell in October
The PPI in Italy recorded a drop of 0.70% in October on an annual basis. In the previous month, the PPI had recorded a drop of 0.80%.
Spanish retail sales rose less than expected in October
On a YoY basis, retail sales climbed 2.20% in Spain, in October, less than market expectations for a rise of 3.20%. In the prior month, retail sales had registered a revised rise of 3.10%.
Spanish current account surplus registered a drop in September
In September, current account surplus in Spain fell to €1.50 billion. Spain had posted a current account surplus of €2.90 billion in the prior month.
Swiss UBS consumption indicator advanced in October
In October, UBS consumption indicator recorded a rise to 1.49 in Switzerland. UBS consumption indicator had registered a revised reading of 1.47 in the prior month.
Swiss KOF economic barometer slid surprisingly in November
The KOF economic barometer dropped unexpectedly to a level of 102.20 in Switzerland, in November, lower than market expectations of a rise to a level of 104.00. In the previous month, the KOF economic barometer had recorded a revised level of 103.90.
Fed’s Beige Book reported modest growth around the US
The Federal Reserve’s (Fed’s) latest Beige book indicated that seven of the central bank’s 12 districts reported modest to moderate growth in the economy from early October through mid-November. The report further stated that the US labour market appeared to tighten in a majority of districts, with continued expansion in employment accompanied by generally modest wage growth and the strong Dollar was found to be weighing on manufacturers.
US personal spending advanced less than expected in October
In October, on a monthly basis, personal spending recorded a rise of 0.30% in the US, less than market expectations for an advance of 0.50%. In the previous month, personal spending had climbed by a revised 0.70%.
US pending home sales recorded a rise in October
Pending home sales climbed 0.20% in the US on a YoY basis, in October. Pending home sales had risen 2.00% in the prior month.
US Chicago Fed purchasing managers index climbed in November
In the US, the Chicago Fed purchasing managers index recorded a rise to 57.60 in November, compared to market expectations of an advance to 52.50. In the prior month, the Chicago Fed purchasing managers index had registered a reading of 50.60.
US mortgage applications dropped in the last week
On a weekly basis, mortgage applications recorded a drop of 9.40% in the week ended 25 November 2016, in the US. Mortgage applications had climbed 5.50% in the previous week.
US personal consumption expenditure deflator rose less than expected in October
In the US, personal consumption expenditure deflator registered a rise of 1.40% in October, on an annual basis, less than market expectations for an advance of 1.50%. In the prior month, personal consumption expenditure deflator had registered a rise of 1.20%.
US pending home sales rose as expected in October
On a MoM basis, pending home sales advanced 0.10% in the US, in October, compared to a revised advance of 1.40% in the prior month. Markets were anticipating pending home sales to climb 0.10%.
US core personal consumption expenditure rose as expected in October
On a YoY basis, core personal consumption expenditure registered a rise of 1.70% in the US, in October, meeting market expectations. Core personal consumption expenditure had registered a similar rise in the previous month.
US personal consumption expenditure deflator rose less than expected in October
In October, personal consumption expenditure deflator in the US climbed 0.20% on a monthly basis, compared to a similar rise in the previous month. Markets were anticipating personal consumption expenditure deflator to climb 0.30%.
US core personal consumption expenditure advanced as expected in October
Core personal consumption expenditure in the US recorded a rise of 0.10% on a monthly basis in October, compared to a similar rise in the prior month. Market anticipation was for core personal consumption expenditure to climb 0.10%.
Private sector employment in the US recorded a rise in November
In the US, the private sector employment registered a rise of 216.00 K in November, compared to a revised advance of 119.00 K in the prior month. Markets were anticipating the private sector employment to rise 170.00 K.
US personal income advanced more than expected in October
On a MoM basis, personal income advanced 0.60% in October, in the US, compared to a revised advance of 0.40% in the previous month. Market anticipation was for personal income to advance 0.40%.
Canadian industrial product price index rose more than expected in October
In Canada, the industrial product price index rose 0.70% on a MoM basis in October, more than market expectations for a rise of 0.60%. In the previous month, the industrial product price index had registered a rise of 0.40%.
Canadian GDP advanced more than expected in September
The gross domestic product (GDP) in Canada recorded a rise of 1.90% in September on an annual basis, more than market expectations for a rise of 1.80%. The GDP had risen by a revised 1.00% in the prior month.
Canadian GDP rose more than expected in September
On a MoM basis, in Canada, the GDP rose 0.30% in September, higher than market expectations for an advance of 0.10%. In the previous month, the GDP had recorded a rise of 0.20%.
Canadian annualised GDP rose more than expected in 3Q 2016
In Canada, annualised GDP registered a rise of 3.50% in 3Q 2016, on a quarterly basis, higher than market expectations for an advance of 3.40%. In the prior quarter, annualised GDP had registered a revised drop of 1.30%.
Canadian raw material price index rose less than expected in October
In October, the raw material price index rose 3.30% in Canada on a monthly basis, less than market expectations for a rise of 3.50%. In the prior month, the raw material price index had registered a revised flat reading.
Foreign investors turned net buyers of Japanese bonds in the previous week
Foreign investors turned net buyers of ¥22.00 billion worth of Japanese bonds in the week ended 25 November 2016, as compared to being net sellers of a revised ¥1109.30 billion worth of Japanese bonds in the prior week.
Japanese construction orders rose in October
In Japan, construction orders registered a rise of 15.20% in October on a YoY basis. In the prior month, construction orders had registered a rise of 16.30%.
Japanese housing starts advanced more than expected in October
Housing starts registered a rise of 13.70% in Japan on a YoY basis in October, compared to an advance of 10.00% in the prior month. Markets were anticipating housing starts to rise 11.00%.
Japanese capital spending excluding software declined more than expected in 3Q 2016
Capital spending excluding software dropped 1.40% on an annual basis in Japan, in 3Q 2016, compared to a rise of 3.10% in the prior quarter. Market expectation was for capital spending excluding software to drop 0.70%.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors remained net buyers of ¥330.50 billion worth of Japanese stocks in the week ended 25 November 2016, from being net buyers of a revised ¥461.50 billion worth of Japanese stocks in the previous week.
Japanese small business confidence index steadied in November
The small business confidence index remained unchanged at 48.30 in November, in Japan. Markets were anticipating the small business confidence index to ease to a level of 48.00.
Japanese manufacturing PMI eased in November
The final manufacturing PMI dropped to 51.30 in November, in Japan, compared to a level of 51.40 in the previous month. The preliminary figures had recorded a drop to 51.10.
Japanese annualised housing starts remained unchanged in October
In October, the annualised housing starts in Japan remained unchanged at 0.98 million units. Markets were anticipating the annualised housing starts to drop to a level of 0.96 million units.
Japanese investors turned net buyers of foreign bonds in the previous week
Japanese investors turned net buyers of ¥112.30 billion worth of foreign bonds in the week ended 25 November 2016, from being net sellers of a revised ¥260.40 billion worth of foreign bonds in the previous week.
Japanese capital spending declined more than expected in 3Q 2016
On an annual basis, in 3Q 2016, capital spending registered a drop of 1.30% in Japan, higher than market expectations for a drop of 0.60%. In the prior quarter, capital spending had climbed 3.10%.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors remained net buyers of ¥117.80 billion worth of foreign stocks in the week ended 25 November 2016, from being net buyers of a revised ¥678.00 billion worth of foreign stocks in the prior week.
Chinese NBS non-manufacturing PMI climbed in November
The NBS non-manufacturing PMI registered a rise to 54.70 in November, in China. The NBS non-manufacturing PMI had recorded a reading of 54.00 in the previous month.
Chinese NBS manufacturing PMI rose surprisingly in November
The NBS manufacturing PMI in China recorded an unexpected rise to a level of 51.70 in November, compared to market expectations of a fall to 51.00. The NBS manufacturing PMI had registered a reading of 51.20 in the previous month.
Chinese Caixin/Markit manufacturing PMI index slid in November
In China, Caixin/Markit manufacturing PMI index dropped to 50.90 in November, compared to a reading of 51.20 in the prior month. Market anticipation was for Caixin/Markit manufacturing PMI index to fall to a level of 51.00.
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