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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CBI distributive trade survey’s retail sales balance dropped in October
In the UK, the CBI distributive trade survey’s retail sales balance registered a drop to 36.00% in October, compared to market expectations of a fall to a level of 14.00%. The CBI distributive trade survey’s retail sales balance had recorded a reading of 42.00% in the prior month.
ECB to reduce monthly bond purchases, albeit at a gradual pace
The European Central Bank (ECB), at its October monetary policy meeting, left the key interest rate unchanged at 0.00% but announced a plan to pare back its monthly asset purchases from €60.00 billion to €30.00 billion starting from January 2018 and would continue buying at least until September next year. Further, the ECB President, Mario Draghi, stated that growth in the Euro-zone was solid and broad-based but cautioned that loose monetary policy would be required for some time, despite the recovery, as the expansion remained conditional on significant support. The central bank also reiterated that interest rates would remain at their current levels well past the end of the asset-purchase programme.
German consumer confidence index surprisingly slid in November
The consumer confidence index registered an unexpected drop to a level of 10.70 in Germany, in November, lower than market expectations of a steady reading. In the prior month, the consumer confidence index had registered a level of 10.80.
Italian business confidence index unexpectedly climbed in October
The business confidence index in Italy registered an unexpected rise to 111.00 in October, compared to a revised reading of 110.50 in the prior month. Markets were anticipating the business confidence index to fall to a level of 110.00.
Italian consumer confidence index unexpectedly rose in October
In October, the consumer confidence index in Italy registered an unexpected rise to a level of 116.10, higher than market expectations of a drop to 114.90. The consumer confidence index had registered a revised level of 115.60 in the prior month.
Spanish unemployment rate (survey) declined in 3Q 2017
Unemployment rate (survey) registered a drop to 16.38% in 3Q 2017, in Spain, lower than market expectations of a drop to 16.60%. In the previous quarter, unemployment rate (survey) had registered a reading of 17.22%.
US initial jobless claims climbed in the last week
In the week ended 21 October 2017, the seasonally adjusted initial jobless claims in the US recorded a rise to 233.00 K, compared to a revised level of 223.00 K in the prior week. Markets were expecting initial jobless claims to rise to a level of 235.00 K.
US Kansas City Fed manufacturing activity index unexpectedly climbed in October
In October, the Kansas City Fed manufacturing activity index advanced unexpectedly to 23.00 in the US, higher than market expectations of an unchanged reading. In the prior month, the Kansas City Fed manufacturing activity index had recorded a reading of 17.00.
US pending home sales remained steady in September
Pending home sales in the US remained steady on a monthly basis in September, compared to a revised drop of 2.80% in the previous month. Market anticipation was for pending home sales to climb 0.50%.
US pending home sales declined more than expected in September
Pending home sales in the US fell 5.40% in September on a YoY basis, higher than market expectations for a fall of 4.20%. In the prior month, pending home sales had dropped by a revised 3.30%.
US continuing jobless claims eased in the last week
In the week ended 14 October 2017, the seasonally adjusted continuing jobless claims in the US eased to 1893.00 K, compared to market expectations of a drop to 1890.00 K. In the prior week, continuing jobless claims had registered a revised level of 1896.00 K.
US advance goods trade deficit widened in September
The advance goods trade deficit in the US widened to $64.10 billion in September, compared to market expectations of an advance goods trade deficit of $64.00 billion. The US had reported a revised advance goods trade deficit of $63.30 billion in the previous month.
US wholesale inventories advanced less than expected in September
The seasonally adjusted preliminary wholesale inventories rose 0.30% on a monthly basis in the US, in September, less than market expectations for a rise of 0.40%. The wholesale inventories had registered a rise of 0.90% in the prior month.
Japanese national CPI advanced as expected in September
The national consumer price index (CPI) in Japan advanced 0.70% on a YoY basis in September, meeting market expectations. The national CPI had registered a similar rise in the prior month.
Japanese Tokyo CPI excluding fresh food rose more than expected in October
Tokyo CPI excluding fresh food recorded a rise of 0.60% on a YoY basis in Japan in October, higher than market expectations for a rise of 0.50%. In the previous month, Tokyo CPI excluding fresh food had recorded a rise of 0.50%.
Japanese National CPI ex-fresh food advanced as expected in September
In September, National CPI ex-fresh food registered a rise of 0.70% on an annual basis in Japan, at par with market expectations. National CPI ex-fresh food had registered a similar rise in the prior month.
Japanese Tokyo CPI surprisingly slid in October
Tokyo CPI registered an unexpected drop of 0.20% in Japan on a YoY basis in October, compared to a rise of 0.50% in the previous month. Market anticipation was for Tokyo CPI to rise 0.10%.
Chinese industrial profits (YoY) rose in September
Industrial profits (YoY) registered a rise of 27.70% on an annual basis, in September, in China. Industrial profits (YoY) had climbed 24.00% in the prior month.
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