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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Brexit: Theresa May seeks two-year implementation period
The British Prime Minister, Theresa May, called for a two-year transition period after its planned exit in 2019, in which Britain would largely maintain its current ties in the European Union’s single market. May also promised to meet Britain’s existing EU budget commitments until 2020.
UK CBI trends selling prices dropped in September
CBI trends selling prices recorded a drop to 18.00 in the UK, in September. CBI trends selling prices had recorded a reading of 19.00 in the prior month.
UK balance of firms reporting total order book above normal surprisingly dropped in September
In September, the balance of firms reporting total order book above normal in the UK fell unexpectedly to a level of 7.00, lower than market expectations of a steady reading. In the previous month, the balance of firms reporting total order book above normal had registered a reading of 13.00.
Euro-zone manufacturing PMI surprisingly rose in September
The flash manufacturing PMI climbed unexpectedly to 58.20 in the Euro-zone, in September, compared to market expectations of a fall to 57.20. The manufacturing PMI had recorded a reading of 57.40 in the previous month.
Euro-zone services PMI rose in September
Compared to a reading of 54.70 in the prior month the preliminary services PMI climbed to 55.60 in September, in the Euro-zone. Market anticipation was for services PMI to rise to a level of 54.80.
Euro-zone composite PMI surprisingly advanced in September
The flash composite PMI recorded an unexpected rise to a level of 56.70 in September, in the Euro-zone, compared to market expectations of a fall to 55.60. Composite PMI had recorded a reading of 55.70 in the prior month.
German manufacturing PMI surprisingly advanced in September
The flash manufacturing PMI in Germany advanced unexpectedly to a level of 60.60 in September, compared to market expectations of a fall to 59.00. In the previous month, manufacturing PMI had registered a reading of 59.30.
German services PMI advanced in September
The flash services PMI registered a rise to 55.60 in September, in Germany, compared to a reading of 53.50 in the previous month. Markets were anticipating services PMI to climb to a level of 53.70.
French GDP rose as expected in 2Q 2017
On a QoQ basis in 2Q 2017, the final gross domestic product (GDP) advanced 0.50% in France, compared to a similar rise in the previous quarter. Market anticipation was for GDP to climb 0.50%. The preliminary figures had also indicated an advance of 0.50%.
French manufacturing PMI unexpectedly rose in September
The flash manufacturing PMI climbed unexpectedly to 56.00 in September, in France, compared to market expectations of a drop to 55.50. In the prior month, manufacturing PMI had recorded a level of 55.80.
French GDP rose more than expected in 2Q 2017
The final gross domestic product (GDP) advanced 1.80% on an annual basis in 2Q 2017, in France, compared to an advance of 1.10% in the previous quarter. The preliminary figures had indicated a rise of 1.70%. Market expectation was for GDP to climb 1.70%.
French services PMI unexpectedly rose in September
The preliminary services PMI recorded an unexpected rise to a level of 57.10 in September, in France, higher than market expectations of a fall to a level of 54.80. Services PMI had recorded a level of 54.90 in the previous month.
Spanish trade deficit widened in July
Trade deficit in Spain expanded to €2.10 billion in July, from a trade deficit of €1.26 billion in the previous month.
US Markit manufacturing PMI rose in September
The flash Markit manufacturing PMI in the US recorded a rise to 53.00 in September, compared to a reading of 52.80 in the prior month. Markets were expecting the Markit manufacturing PMI to rise to 53.00.
US Markit services PMI dropped in September
The flash Markit services PMI in the US eased to 55.10 in September, compared to market expectations of a drop to a level of 55.80. Markit services PMI had recorded a reading of 56.00 in the prior month.
US Markit composite PMI fell in September
The flash Markit composite PMI registered a drop to 54.60 in the US, in September, compared to a level of 55.30 in the previous month.
Canadian CPI climbed in August
The consumer price index (CPI) in Canada rose, on MoM basis, to a level of 130.50 in August. The CPI had registered a reading of 130.40 in the prior month.
Canadian CPI advanced less than expected in August
The CPI climbed 0.10% in Canada on a monthly basis in August, lower than market expectations for an advance of 0.20%. The CPI had registered an unchanged reading in the prior month.
Canadian CPI advanced less than expected in August
The CPI rose 1.40% on an annual basis in Canada, in August, lower than market expectations for an advance of 1.50%. The CPI had advanced 1.20% in the previous month.
Canadian CPI rose in August
The seasonally adjusted CPI in Canada climbed 0.20% on a MoM basis, in August. CPI had registered a similar rise in the previous month.
Canadian retail sales (ex-autos) advanced less than expected in July
Retail sales (ex-autos) rose 0.20% in Canada on a monthly basis in July, lower than market expectations for an advance of 0.40%. Retail sales (ex-autos) had risen by a revised 0.40% in the previous month.
Canadian retail sales advanced more than expected in July
In July, on a MoM basis, retail sales in Canada advanced 0.40%, compared to a revised flat reading in the previous month. Market expectation was for retail sales to climb 0.20%.
Japanese manufacturing PMI climbed in September
The flash manufacturing PMI registered a rise to 52.60 in September, in Japan. Manufacturing PMI had registered a level of 52.20 in the previous month.
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