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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Mark Carney: BoE can’t be expected to nullify Brexit hit
The Bank of England (BoE) Governor, Mark Carney, suggested that the central bank has limited means to mitigate the damage from Brexit, although it could influence how that hit is spread across Britain. He further added that the BoE will continue to assess and express its independent assessment of the risks associated with Brexit.
UK consumer confidence unexpectedly climbed in September
In the UK, the consumer confidence rose unexpectedly to a level of -9.00 in September, higher than market expectations of a drop to a level of -11.00. The consumer confidence had registered a reading of -10.00 in the prior month.
UK business barometer rose in September
In September, the business barometer in the UK recorded a rise of 23.00 %. The business barometer had registered a reading of 17.00 % in the prior month.
Euro-zone industrial confidence index climbed in September
In the Euro-zone, the industrial confidence index registered a rise to 6.60 in September, compared to market expectations of a rise to 5.20. In the previous month, the industrial confidence index had recorded a revised reading of 5.00.
Euro-zone consumer confidence index advanced in September
The final consumer confidence index registered a rise to -1.20 in September, in the Euro-zone, compared to a level of -1.50 in the prior month. The preliminary figures had also recorded an advance to -1.20. Market expectation was for the consumer confidence index to advance to.
Euro-zone services sentiment indicator unexpectedly climbed in September
The services sentiment indicator in the Euro-zone recorded an unexpected rise to 15.30 in September, compared to market expectations of a fall to a level of 15.00. In the previous month, the services sentiment indicator had recorded a revised level of 15.10.
Euro-zone economic sentiment indicator advanced in September
The economic sentiment indicator in the Euro-zone climbed to 113.00 in September, compared to a reading of 111.90 in the previous month. Market expectation was for the economic sentiment indicator to advance to a level of 112.00.
Euro-zone business climate indicator rose in September
In the Euro-zone, the business climate indicator advanced to 1.34 in September, compared to market expectations of an advance to a level of 1.12. The business climate indicator had recorded a revised level of 1.08 in the prior month.
German consumer confidence index surprisingly declined in October
In Germany, the consumer confidence index recorded an unexpected drop to a level of 10.80 in October, lower than market expectations of an advance to a level of 11.00. In the previous month, the consumer confidence index had registered a reading of 10.90.
German HICP remained flat in September
On a monthly basis, the preliminary harmonised consumer price index (HICP) remained flat in September, in Germany, lower than market expectations for an advance of 0.10%. The HICP had climbed 0.20% in the previous month.
German HICP rose less than expected in September
The flash HICP registered a rise of 1.80% in Germany on a YoY basis in September, less than market expectations for an advance of 1.90%. In the previous month, the HICP had registered a similar rise.
German CPI advanced as expected in September
In September, the preliminary consumer price index (CPI) in Germany climbed 0.10% on a MoM basis, at par with market expectations. The CPI had registered a similar rise in the previous month.
German CPI advanced as expected in September
The flash CPI in Germany registered a rise of 1.80% on an annual basis in September, compared to a similar rise in the prior month. Markets were expecting the CPI to climb 1.80%.
Spanish HICP advanced less than expected in September
The flash HICP rose 0.60% on a monthly basis in Spain, in September, compared with an advance of 0.20% in the prior month. Market anticipation was for the HICP to climb 0.80%.
Spanish CPI advanced more than expected in September
In September, on a monthly basis, the preliminary CPI rose 0.20% in Spain, higher than market expectations for a rise of 0.10%. The CPI had registered a similar rise in the prior month.
Spanish CPI advanced as expected in September
In September, on a YoY basis, the preliminary CPI advanced 1.80% in Spain, at par with market expectations. The CPI had registered a rise of 1.60% in the previous month.
Spanish HICP advanced less than expected in September
On a YoY basis in September, the flash HICP recorded a rise of 1.90% in Spain, compared with an advance of 2.00% in the previous month. Markets were anticipating the HICP to advance 2.00%.
Spanish retail sales rose less than expected in August
On a YoY basis, retail sales rose 1.60% in August, in Spain, less than market expectations for an advance of 2.00%. Retail sales had registered a rise of 1.10% in the prior month.
US wholesale inventories advanced more than expected in August
In August, the seasonally adjusted preliminary wholesale inventories in the US climbed 1.00% on a monthly basis, compared to a rise of 0.60% in the prior month. Market anticipation was for the wholesale inventories to advance 0.40%.
US continuing jobless claims unexpectedly fell in the last week
The seasonally adjusted continuing jobless claims in the US registered an unexpected drop to 1934.00 K in the week ended 16 September 2017, lower than market expectations of an advance to 1993.00 K. Continuing jobless claims had registered a revised reading of 1979.00 K in the previous week.
US GDP price index advanced as expected in 2Q 2017
On a quarterly basis, in 2Q 2017, the final gross domestic product (GDP) price index rose 1.00% in the US, meeting market expectations. The preliminary figures had also indicated a rise of 1.00%. The GDP price index had recorded a revised rise of 2.00% in the previous quarter.
US annualised GDP rose more than expected in 2Q 2017
In 2Q 2017, on a QoQ basis, the final annualised gross domestic product in the US recorded a rise of 3.10%, compared to a revised rise of 1.20% in the previous quarter. The preliminary figures had recorded an advance of 3.00%. Market anticipation was for the annualised GDP to climb 3.00%.
US personal consumption advanced as expected in 2Q 2017
In 2Q 2017, on a QoQ basis, the final personal consumption rose 3.30% in the US, compared to a revised advance of 1.90% in the prior quarter. Markets were expecting personal consumption to advance 3.30%. The preliminary figures had also indicated a rise of 3.30%.
US Kansas City Fed manufacturing activity index unexpectedly rose in September
In September, the Kansas City Fed manufacturing activity index in the US registered an unexpected rise to 17.00, higher than market expectations of a drop to a level of 15.00. The Kansas City Fed manufacturing activity index had recorded a level of 16.00 in the previous month.
US initial jobless claims rose in the last week
In the week ended 23 September 2017, the seasonally adjusted initial jobless claims climbed to 272.00 K in the US, compared to market expectations of a rise to 270.00 K. In the prior week, initial jobless claims had registered a revised reading of 260.00 K.
US advance goods trade deficit dropped in August
Advance goods trade deficit in the US dropped to $62.90 billion in August, following a revised advance goods trade deficit of $63.90 billion in the prior month. Markets were expecting the country’s advance goods trade deficit to rise to $65.10 billion.
US core personal consumption expenditure rose as expected in 2Q 2017
In the US, the final core personal consumption expenditure climbed 0.90% in 2Q 2017 on a QoQ basis, compared to a revised advance of 1.80% in the previous quarter. The preliminary figures had also indicated an advance of 0.90%. Markets were anticipating core personal consumption expenditure to advance 0.90%.
BoJ Summary of opinions: One member called for ramping up stimulus in September
The Bank of Japan’s (BoJ) summary of opinions report showed that one official called for expanding monetary stimulus at the central bank’s September meeting, while most policymakers remained in favour of maintaining the current stimulus programme, as the bank was far from achieving the inflation target.
Japanese retail trade rose less than expected in August
Retail trade climbed 1.70% in Japan on an annual basis in August, lower than market expectations for an advance of 2.50%. In the prior month, retail trade had registered a rise of 1.90%.
Japanese Tokyo CPI excluding fresh food advanced as expected in September
Tokyo CPI excluding fresh food in Japan registered a rise of 0.50% in September on an annual basis, compared to a rise of 0.40% in the previous month. Markets were anticipating Tokyo CPI excluding fresh food to advance 0.50%.
Japanese industrial production rose more than expected in August
On a monthly basis, the preliminary industrial production recorded a rise of 2.10% in Japan, in August, compared to a fall of 0.80% in the prior month. Markets were anticipating industrial production to climb 1.80%.
Japanese industrial production rose more than expected in August
The preliminary industrial production rose 5.40% on an annual basis in Japan, in August, more than market expectations for a rise of 5.20%. In the prior month, industrial production had risen 4.70%.
Japanese household spending rose less than expected in August
On a YoY basis, household spending climbed 0.60% in Japan, in August, compared to a drop of 0.20% in the prior month. Markets were anticipating household spending to rise 0.90%.
Japanese large retailer’s sales rose more than expected in August
Large retailer’s sales registered a rise of 0.60% in Japan on a MoM basis in August, higher than market expectations for a rise of 0.30%. In the previous month, large retailer’s sales had registered a drop of 0.20%.
Japanese unemployment rate steadied in August
Unemployment rate remained flat at a level of 2.80% in Japan, in August, meeting market expectations.
Japanese national CPI (CPI) rose more than expected in August
On a YoY basis, the national CPI (CPI) in Japan registered a rise of 0.70% in August, compared with an advance of 0.40% in the previous month. Markets were anticipating the national CPI (CPI) to rise 0.60%.
Japanese corporate loans & discounts advanced in August
Corporate loans & discounts climbed 3.69% on a YoY basis in Japan, in August. Corporate loans & discounts had risen 3.80% in the previous month.
Japanese retail trade dropped more than expected in August
In August, retail trade slid 1.70% in Japan, on a monthly basis, higher than market expectations for a drop of 0.50%. Retail trade had registered a rise of 1.10% in the prior month.
Japanese Tokyo CPI rose less than expected in September
On an annual basis, Tokyo CPI in Japan rose 0.50% in September, less than market expectations for a rise of 0.60%. In the prior month, Tokyo CPI had registered a similar rise.
Japanese National CPI ex-fresh food advanced as expected in August
National CPI ex-fresh food advanced 0.70% on a YoY basis in August, in Japan, compared to a rise of 0.50% in the prior month. Markets were anticipating National CPI ex-fresh food to advance 0.70%.
Japanese job to applicant ratio steadied in August
Job to applicant ratio remained flat at 1.52 in August, in Japan, compared to market expectations of a rise to a level of 1.53.
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