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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK retail sales ex-fuel advanced more than expected in August
In August, on a MoM basis, retail sales ex-fuel climbed 1.00% in the UK, more than market expectations for an advance of 0.10%. Retail sales ex-fuel had recorded a revised rise of 0.70% in the prior month.
UK retail sales advanced more than expected in August
Retail sales rose 1.00% in the UK on a MoM basis in August, compared to a revised advance of 0.60% in the previous month. Markets were anticipating retail sales to advance 0.20%.
UK retail sales rose more than expected in August
Retail sales in the UK recorded a rise of 2.40% on an annual basis in August, higher than market expectations for an advance of 1.10%. Retail sales had advanced by a revised 1.40% in the previous month.
German PPI rose more than expected in August
On a monthly basis, the producer price index (PPI) climbed 0.20% in August, in Germany, more than market expectations for an advance of 0.10%. The PPI had registered a similar rise in the prior month.
German PPI rose more than expected in August
On an annual basis in August, the PPI climbed 2.60% in Germany, compared to a rise of 2.30% in the previous month. Market anticipation was for the PPI to climb 2.50%.
US mortgage applications slid in the last week
In the US, mortgage applications fell 9.70% in the week ended 15 September 2017 on a weekly basis. Mortgage applications had advanced 9.90% in the prior week.
US existing home sales unexpectedly dropped in August
Existing home sales registered an unexpected drop of 1.70%, on monthly basis, to a level of 5.35 million in August, in the US, compared to a level of 5.44 million in the prior month. Markets were anticipating existing home sales to advance to a level of 5.45 million.
Fed called historic end to crisis-era stimulus programme, left rates unchanged
The Federal Reserve (Fed) has taken the landmark decision to start unwinding its $4.50 trillion balance sheet in October, initially by just $10.00 billion per month. Meanwhile, policymakers left the benchmark interest rate unchanged in a range of 1.00% to 1.25%. The Fed Chairwoman, Janet Yellen stated that the US economy would suffer short-term damage due to the recent hurricanes but stuck with forecasts for another rate rise this year, followed by three raises in 2018.
BoJ kept monetary policy steady
The Bank of Japan (BoJ) policymakers voted 8-1 to leave its asset-buying programme and negative interest rate policy in place. Further, the central bank maintained its upbeat view of the economy, signalling its conviction that a solid recovery will gradually accelerate inflation towards its 2.00% goal without additional stimulus.
Japanese convenience store sales slid in August
In August, on an annual basis, convenience store sales recorded a drop of 0.90% in Japan. Convenience store sales had registered a flat reading in the prior month.
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