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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Raise investment to maintain global growth, said OECD
The Organisation for Economic Co-operation and Development (OECD), in its latest economic outlook, indicated that global economic growth in 2017 will be the best in seven years, but underlined concerns about the longer-term outlook, citing “clear weaknesses and vulnerabilities”. The Paris-based organisation expects the global economy to grow 3.6% in 2017 and 3.7% in 2018, before easing to 3.6% in 2019. Further, it advised nations to implement reform packages that catalyse the private sector to promote productivity, higher wages and more inclusive growth.
UK BRC shop price index eased in November
The BRC shop price index fell 0.10% on an annual basis, in November, in the UK. The BRC shop price index had registered a similar fall in the previous month.
German consumer confidence index remained flat in December
In Germany, the consumer confidence index remained steady at a level of 10.70 in December, meeting market expectations.
German import price index rose more than expected in October
On a monthly basis in October, the import price index recorded a rise of 0.60% in Germany, more than market expectations for a rise of 0.40%. In the prior month, the import price index had climbed 0.90%.
German import price index rose more than expected in October
The import price index registered a rise of 2.60% on an annual basis in October, in Germany, higher than market expectations for an advance of 2.50%. In the prior month, the import price index had climbed 3.00%.
French consumer confidence advanced in November
In November, consumer confidence registered a rise to 102.00 in France, compared to a level of 100.00 in the prior month. Market expectation was for consumer confidence to climb to 101.00.
Spanish retail sales surprisingly slid in October
Retail sales unexpectedly fell 0.10% in Spain, on an annual basis in October, compared to a revised rise of 1.60% reported in the previous month. Market expectations for retail sales was to rise 2.20%.
US wholesale inventories unexpectedly dropped in October
In October, the seasonally adjusted flash wholesale inventories in the US unexpectedly dropped 0.40% on a monthly basis, compared to a rise of 0.30% in the previous month. Market has expected the inventories to rise 0.40%.
US S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas rose more than expected in September
The S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas in the US advanced 6.19% in September on an annual basis, compared to a revised advance of 5.82% in the previous month. Market anticipation was for the S&P/Case-Shiller composite home price index (HPI) of 20 metropolitan areas to climb 6.04%.
US Richmond Fed manufacturing index climbed in November
In November, the Richmond Fed manufacturing index advanced to 30.00 in the US, higher than market expectations of an advance to 14.00. In the prior month, the Richmond Fed manufacturing index had registered a reading of 12.00.
US housing price index advanced less than expected in September
In the US, the housing price index registered a rise of 0.30% on a monthly basis in September, lower than market expectations for an advance of 0.50%. In the previous month, the housing price index had recorded a revised rise of 0.80%.
US Redbook index dropped in the last week
On a monthly basis, the seasonally adjusted Redbook index dropped 0.20% in the US, in the week ended 24 November 2017. The Redbook index had fallen 0.70% in the prior week.
US S&P/Case-Shiller home price index advanced in September
In September, the S&P/Case-Shiller home price index in the US climbed to 203.50. The S&P/Case-Shiller home price index had recorded a revised level of 202.68 in the prior month.
US Redbook index rose in the last week
On an annual basis, the Redbook index registered a rise of 4.80% in the week ended 24 November 2017, in the US. In the previous week, the Redbook index had advanced 4.10%.
US house price purchase index rose in 3Q 2017
The house price purchase index advanced 1.40% on a quarterly basis, in 3Q 2017, in the US. In the prior quarter, the house price purchase index had advanced by a revised 1.70%.
US advance goods trade deficit expanded in October
In October, advance goods trade deficit in the US expanded to $68.30 billion, following an advance goods trade deficit of $64.10 billion in the previous month. Market anticipation was for the nation to post an advance goods trade deficit of $64.90 billion.
US S&P/Case-Shiller composite index of 20 metropolitan areas rose more than expected in September
In September, the seasonally adjusted S&P/Case-Shiller composite index of 20 metropolitan areas recorded a rise of 0.52% on a monthly basis in the US, compared to a revised advance of 0.44% in the prior month. Market expectation was for the S&P/Case-Shiller composite index of 20 metropolitan areas to advance 0.30%.
US CB consumer confidence index surprisingly advanced in November
The CB consumer confidence index in the US unexpectedly climbed to 129.50 in November, compared to a revised reading of 126.20 in the previous month. Market anticipation was for the CB consumer confidence index to fall to a level of 124.00.
Canadian industrial product price index rose more than expected in October
In October, the industrial product price index in Canada registered a rise of 1.00% on a MoM basis, compared to a drop of 0.30% in the prior month. Market anticipation was for the industrial product price index to rise 0.50%.
Canadian raw material price index advanced more than expected in October
The raw material price index in Canada advanced 3.80% in October on a monthly basis, compared to a revised fall of 0.20% in the previous month. Market anticipation was for the raw material price index to climb 3.00%.
Japanese large retailer’s sales declined less than expected in October
In Japan, large retailer’s sales registered a drop of 0.70% in October on a MoM basis, lower than market expectations for a drop of 0.80%. In the previous month, large retailer’s sales had recorded a rise of 1.90%.
Japanese retail trade surprisingly eased in October
In October, retail trade unexpectedly eased 0.20% on an annual basis in Japan, compared to a rise of 2.20% in the prior month. Markets were expecting retail trade to advance 0.20%.
Japanese retail trade remained flat in October
In October, retail trade remained unchanged on a MoM basis in Japan, compared to an advance of 0.80% in the prior month. Market expectation was for retail trade to rise 0.20%.
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