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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI climbed unexpectedly in December
The construction PMI in the UK climbed unexpectedly to 54.20 in December, compared to market expectations of a fall to a level of 52.50. The construction PMI had registered a level of 52.80 in the previous month.
UK number of mortgage approvals for house purchases climbed in November
Compared to a revised level of 67.40 K in the prior month number of mortgage approvals for house purchases advanced to 67.50 K in November, in the UK. Market anticipation was for number of mortgage approvals for house purchases to rise to a level of 68.50 K.
UK net lending to individuals registered a rise in November
In the UK, net lending to individuals recorded a rise of £5.10 billion in November. Net lending to individuals had advanced £4.90 billion in the previous month.
UK M4 money supply advanced in November
On an annual basis, M4 money supply climbed 6.40% in the UK, in November. M4 money supply had recorded a rise of 6.60% in the prior month.
UK consumer credit recorded a rise in November
Seasonally adjusted consumer credit registered a rise of £21.98 billion in November, in the UK. In the previous month, consumer credit had recorded a rise of £22.40 billion.
UK net lending secured on dwellings advanced less than expected in November
Net lending secured on dwellings rose £3.20 billion in the UK in November, lower than market expectations for an advance of £3.30 billion. Net lending secured on dwellings had registered a revised similar rise in the prior month.
UK M4 money supply climbed in November
In November, on a monthly basis, M4 money supply in the UK advanced 0.40%. In the previous month, M4 money supply had recorded a rise of 1.10%.
UK net consumer credit advanced more than expected in November
Net consumer credit recorded a rise of £1.90 billion in the UK, in November, more than market expectations for an advance of £1.60 billion. In the previous month, net consumer credit had registered a revised rise of £1.70 billion.
UK M4 Ex-IOFCs 3M annualised rose less than expected in November
In November, M4 Ex-IOFCs 3M annualised climbed 4.20% in the UK on a MoM basis, less than market expectations for a rise of 7.50%. In the prior month, M4 Ex-IOFCs 3M annualised had registered a revised rise of 7.20%.
Euro-zone CPI rose more than expected in December
The flash consumer price index (CPI) recorded a rise of 1.10% in the Euro-zone on a YoY basis in December, compared to a rise of 0.60% in the previous month. Market anticipation was for the CPI to rise 1.00%.
Euro-zone composite PMI climbed surprisingly in December
The final composite PMI recorded an unexpected rise to 54.40 in the Euro-zone, in December, higher than market expectations of an unchanged reading. The preliminary figures had recorded a steady reading. In the previous month, composite PMI had recorded a reading of 53.90.
Euro-zone services PMI dropped in December
In December, the final services PMI in the Euro-zone fell to a level of 53.70, compared to market expectations of a drop to a level of 53.10. In the previous month, services PMI had recorded a level of 53.80. The preliminary figures had recorded a drop to 53.10.
Euro-zone core CPI rose more than expected in December
In December, the flash core CPI in the Euro-zone rose 0.90% on an annual basis, higher than market expectations for a rise of 0.80%. The core CPI had advanced 0.80% in the prior month.
German services PMI eased in December
The final services PMI in Germany recorded a drop to 54.30 in December, compared to a reading of 55.10 in the prior month. The preliminary figures had indicated a drop to 53.80. Markets were expecting services PMI to ease to 53.80.
French consumer confidence steadied in December
In December, consumer confidence remained flat at 99.00 in France, at par with market expectations.
French services PMI rose in December
The final services PMI rose to a level of 52.90 in December, in France, compared to a level of 51.60 in the prior month. The preliminary figures had recorded a rise to 52.60. Markets were anticipating services PMI to rise to 52.60.
Italian services PMI registered a drop in December
The services PMI in Italy dropped to 52.30 in December, compared to a reading of 53.30 in the prior month. Market anticipation was for the services PMI to fall to 52.60.
Italian EU normalised CPI advanced more than expected in December
The preliminary EU normalised CPI climbed 0.40% on a MoM basis in Italy, in December, higher than market expectations for a rise of 0.20%. The EU normalised CPI had registered a drop of 0.20% in the previous month.
Italian CPI recorded a rise in December
In Italy, the preliminary CPI rose 0.40% in December on a MoM basis. The CPI had fallen 0.10% in the prior month.
Number of people unemployed in Spain recorded a drop in December
Number of people unemployed registered a drop of 86.80 K in Spain, in December, compared to market expectations of a decline of 50.00 K. Number of people unemployed had recorded a gain of 24.80 K in the previous month.
Spanish services PMI declined in December
In December, the services PMI in Spain dropped to 55.00, compared to market expectations of a drop to 54.70. The services PMI had registered a level of 55.10 in the prior month.
Fed minutes: If economy heats up, pace of rate hikes might accelerate
Minutes of the Federal Reserve’s (Fed) December meeting indicated that many Fed officials thought the central bank’s gradual interest rate policy path was under threat. The committee pointed out “substantial uncertainty” about the US fiscal policy ahead. However, members noted that more expansionary fiscal policy raised the possibility of a somewhat tighter monetary policy than currently anticipated.
US mortgage applications advanced in the last week
On a weekly basis, mortgage applications rose 0.10% in the US, in the week ended 30 December 2016. In the previous week, mortgage applications had recorded a drop of 12.10%.
Japanese Markit composite PMI advanced in December
In Japan, Markit composite PMI registered a rise to 52.80 in December, compared to a reading of 52.00 in the prior month.
Japanese monetary base advanced in December
On a YoY basis, the monetary base rose 23.10% in Japan, in December. The monetary base had recorded a rise of 21.50% in the previous month.
Japanese corporate loans & discounts advanced in November
Corporate loans & discounts climbed 2.63% on an annual basis in Japan, in November. Corporate loans & discounts had risen 2.29% in the previous month.
Chinese Caixin composite PMI advanced in December
In China, Caixin composite PMI registered a rise to 53.50 in December. In the prior month, Caixin composite PMI had recorded a level of 52.90.
Chinese Caixin/Markit services PMI index climbed in December
The Caixin/Markit services PMI index in China rose to a level of 53.40 in December. The Caixin/Markit services PMI index had recorded a level of 53.10 in the prior month.
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