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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB’s Draghi warned against hasty policy moves
The European Central Bank (ECB) President, Mario Draghi, expressed confidence that inflation is likely to pick up and reach the central bank’s target, but warned that monetary policy stimulus is required to achieve the target in a sustainable way. Draghi also highlighted that the recent volatility in the Euro represents a source of uncertainty and requires monitoring.
German Ifo business climate index surprisingly dropped in September
In Germany, the Ifo business climate index eased unexpectedly to 115.20 in September, compared to market expectations of a rise to 116.00. The Ifo business climate index had registered a level of 115.90 in the previous month.
German Ifo current assessment index surprisingly dropped in September
In September, the Ifo current assessment index recorded an unexpected drop to 123.60 in Germany, compared to a level of 124.60 in the prior month. Market anticipation was for the Ifo current assessment index to climb to 124.70.
German Ifo business expectations index unexpectedly dropped in September
In Germany, the Ifo business expectations index fell unexpectedly to 107.40 in September, compared to market expectations of a rise to a level of 108.00. In the previous month, the Ifo business expectations index had recorded a level of 107.90.
Spanish PPI rose in August
The producer price index (PPI) in Spain registered a rise of 3.20% on a YoY basis, in August. In the prior month, the PPI had registered a revised rise of 3.00%.
Spanish PPI dropped in August
In Spain, the PPI fell 0.10% on a monthly basis, in August. In the prior month, the PPI had registered a revised similar fall.
US Chicago Fed national activity index slid in August
In the US, the Chicago Fed national activity index dropped to -0.31 in August, compared to a revised reading of 0.03 in the previous month. Market expectation was for the Chicago Fed national activity index to fall to -0.25.
US Dallas Fed manufacturing business index unexpectedly rose in September
The Dallas Fed manufacturing business index in the US recorded an unexpected rise to 21.30 in September, compared to a reading of 17.00 in the prior month. Markets were anticipating the Dallas Fed manufacturing business index to ease to a level of 11.50.
BoJ minutes: Officials aim to stick with current policy framework
According to minutes of the Bank of Japan’s (BoJ) July meeting, policymakers expressed confidence over achieving the central bank’s inflation target and reiterated the need to stick with their current policy framework despite the recent weakness in consumer inflation.
Japanese leading economic index dropped in July
The final leading economic index fell to a level of 105.20 in July, in Japan. The leading economic index had recorded a reading of 105.90 in the prior month. The preliminary figures had indicated a drop to 105.00.
Japanese corporate service price index advanced more than expected in August
In August, on a YoY basis, the corporate service price index recorded a rise of 0.80% in Japan, compared to a rise of 0.60% in the prior month. Markets were expecting the corporate service price index to rise 0.60%.
Japanese coincident index slid in July
In Japan, the final coincident index recorded a drop to 115.70 in July. In the previous month, the coincident index had registered a level of 117.10. The preliminary figures had indicated a fall to 115.60.
Chinese leading economic index rose in August
The leading economic index climbed 1.10% on a MoM basis in China, in August. The leading economic index had registered a rise of 0.90% in the prior month.
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