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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone unemployment rate remained steady in December
In December, the unemployment rate in the Euro-zone remained steady at a level of 8.70%, in line with market expectations.
Euro-zone CPI rose more than expected in January
On an annual basis, the flash consumer price index (CPI) climbed 1.30% in the Euro-zone, in January, more than market expectations for an advance of 1.20%. In the prior month, the CPI had climbed 1.40%.
Euro-zone core CPI advanced as expected in January
In January, the flash core CPI in the Euro-zone, climbed 1.00% on a YoY basis, in line with market expectations. The core CPI had registered a rise of 0.90% in the prior month.
German retail sales dropped more than expected in December
Retail sales in Germany recorded a drop of 1.90% on a monthly basis in December, more than market expectations for a fall of 0.40%. In the previous month, retail sales had climbed by a revised 1.80%.
German retail sales unexpectedly dropped in December
In December, on an annual basis, retail sales in Germany unexpectedly eased 1.90%, compared to market expectations for a rise of 2.80%. Retail sales had risen by a revised 4.30% in the previous month.
German number of people unemployed fell more than expected in January
In Germany, the number of people unemployed recorded a drop of 25.00 K in January, more than market expectations for a drop of 17.00 K. In the prior month, the number of people unemployed had dropped by a revised 30.00 K.
German unemployment rate dropped in January
The seasonally adjusted unemployment rate dropped to 5.40% in January, in Germany, meeting market expectations. In the previous month, unemployment rate had registered a level of 5.50%.
French EU normalised CPI dropped less than expected in January
In January, the flash EU normalised CPI recorded a drop of 0.10% in France, on a MoM basis, lower than market expectations for a drop of 0.50%. EU normalised CPI had risen 0.40% in the previous month.
French CPI (ex-tobacco) declined less than expected in January
In January, on a MoM basis, the preliminary CPI (ex-tobacco) registered a drop of 0.10% in France, lower than market expectations for a fall of 0.30%. The CPI (ex-tobacco) had registered a rise of 0.30% in the previous month.
French PPI advanced in December
In December, on a YoY basis, the producer price index (PPI) in France climbed 1.70%. The PPI had advanced by a revised 2.60% in the previous month.
French PPI remained flat in December
The PPI remained unchanged on a monthly basis, in December, in France. The PPI had climbed by a revised 1.50% in the prior month.
French EU normalised CPI rose more than expected in January
On a YoY basis, the preliminary EU normalised CPI advanced 1.50% in January, in France, higher than market expectations for a rise of 1.10%. EU normalised CPI had risen 1.20% in the prior month.
French CPI (ex-tobacco) rose more than expected in January
The flash CPI (ex-tobacco) recorded a rise of 1.40% on a YoY basis in France in January, higher than market expectations for an advance of 1.20%. In the prior month, the CPI (ex-tobacco) had advanced 1.20%.
Italian unemployment rate surprisingly dropped in December
In Italy, unemployment rate registered an unexpected drop to a level of 10.80% in December, compared to a revised level of 10.90% in the previous month. Markets were anticipating unemployment rate to record a flat reading.
Spanish HICP index rose less than expected in January
The preliminary harmonised consumer price (HICP) index in Spain registered a rise of 0.70% in January on a YoY basis, compared to a rise of 1.20% in the prior month. Markets were anticipating the HICP index to rise 0.80%.
Spanish current account surplus expanded in November
Spain has registered current account surplus of €3.00 billion in November, compared to a current account surplus of €1.70 billion in the prior month.
Spanish CPI dropped more than expected in January
In January, on a MoM basis, the flash CPI in Spain dropped 1.10%, more than market expectations for a drop of 1.00%. In the prior month, the CPI had registered a flat reading.
Spanish HICP index dropped more than expected in January
In Spain, the preliminary HICP index dropped 1.50% in January on a monthly basis, higher than market expectations for a drop of 1.40%. In the prior month, the HICP index had recorded a flat reading.
Spanish CPI rose less than expected in January
On a YoY basis, the flash CPI advanced 0.50% in Spain, in January, compared to an advance of 1.10% in the previous month. Markets were expecting the CPI to advance 0.90%.
Swiss economic expectations index dropped in January
The economic expectations index recorded a drop to 34.50 in January, in Switzerland. The economic expectations index had recorded a level of 52.00 in the previous month.
Swiss UBS consumption indicator dropped in December
UBS consumption indicator eased to 1.69 in December, in Switzerland. In the previous month, UBS consumption indicator had recorded a revised level of 1.73.
Fed stood pat on interest rates, expects inflation to move higher in 2018
The Federal Reserve (Fed), at its January monetary policy meeting, opted to keep the benchmark interest rates unchanged in a range of 1.25% to 1.50%, as widely expected. In the post-meeting statement, the central bank stated that it expects inflationary pressures to finally pick-up this year and stabilise around its 2.00% goal. Further, the central bank hinted at further gradual interest rate hikes, citing robust economic growth and solid labour market conditions.
US Chicago Fed purchasing managers index declined in January
Compared to a revised reading of 67.80 in the previous month the Chicago Fed purchasing managers index in the US registered a drop to 65.70 in January. Market expectation was for the Chicago Fed purchasing managers index to ease to 64.00.
Private sector employment in the US climbed in January
In the US, the private sector employment climbed by 234.00 K in January, higher than market anticipations of an advance of 185.00 K. The private sector employment had recorded a revised gain of 242.00 K in the previous month.
US pending home sales unexpectedly eased in December
On a YoY basis in the US, pending home sales recorded an unexpected drop of 1.80% in December, compared to market expectations for an advance of 1.70%. In the previous month, pending home sales had risen 0.60%.
US employment cost index advanced as expected in 4Q 2017
The employment cost index climbed 0.60% on a QoQ basis in the US, in 4Q 2017, meeting market expectations. In the previous quarter, the employment cost index had registered a rise of 0.70%.
US mortgage applications dropped in the last week
On a weekly basis, mortgage applications in the US fell 2.60% in the week ended 26 January 2018. Mortgage applications had advanced 4.50% in the previous week.
US pending home sales rose as expected in December
On a monthly basis in December, pending home sales advanced 0.50% in the US, in line with market expectations. In the prior month, pending home sales had registered a revised rise of 0.30%.
Canadian GDP rose more than expected in November
The gross domestic product (GDP) registered a rise of 3.50% on a YoY basis in Canada in November, higher than market expectations for a rise of 3.40%. In the prior month, the GDP had risen 3.40%.
Canadian raw material price index fell less than expected in December
The raw material price index in Canada recorded a drop of 0.90% in December on a monthly basis, compared to a revised rise of 5.40% in the previous month. Market anticipation was for the raw material price index to fall 2.30%.
Canadian industrial product price index fell less than expected in December
In December, the industrial product price index in Canada fell 0.10% on a MoM basis, lower than market expectations for a drop of 0.20%. The industrial product price index had climbed 1.40% in the previous month.
Canadian GDP rose as expected in November
On a monthly basis, the GDP in Canada rose 0.40% in November, compared to a flat reading in the prior month. Markets were anticipating the GDP to advance 0.40%.
Japanese construction orders fell in December
On a YoY basis, construction orders in Japan eased 8.10% in December. In the prior month, construction orders had risen 20.50%.
Japanese annualised housing starts fell in December
In December, the annualised housing starts eased to 0.94 million units in Japan, compared to a reading of 0.95 million units in the prior month. Market expectation was for the annualised housing starts to ease to a level of 0.94 million units.
Japanese manufacturing PMI rose in January
The final manufacturing PMI advanced to 54.80 in January, in Japan, compared to a level of 54.00 in the previous month. The preliminary figures had recorded an advance to 54.40.
Japanese investors remained net buyers of foreign bonds in the previous week
Japanese investors were net buyers of ¥41.10 billion worth of foreign bonds in the week ended 26 January 2018, from being net buyers of a revised ¥411.10 billion worth of foreign bonds in the previous week.
Foreign investors remained net sellers of Japanese bonds in the previous week
Foreign investors were net sellers of ¥253.60 billion worth of Japanese bonds in the week ended 26 January 2018, from being net sellers of ¥413.40 billion worth of Japanese bonds in the prior week.
Japanese consumer confidence index remained steady in January
The consumer confidence index remained unchanged at a level of 44.70 in January, in Japan, lower than market expectations of an advance to 44.90.
Japanese investors became net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥374.50 billion worth of foreign stocks in the week ended 26 January 2018, from being net buyers of ¥379.80 billion worth of foreign stocks in the prior week.
Foreign investors remained net sellers of Japanese stocks in the previous week
Foreign investors remained net sellers of ¥300.50 billion worth of Japanese stocks in the week ended 26 January 2018, as compared to being net sellers of ¥148.20 billion worth of Japanese stocks in the prior week.
Japanese housing starts surprisingly eased in December
In December, housing starts registered an unexpected drop of 2.10% in Japan on an annual basis, less than market expectations for a rise of 1.00%. Housing starts had registered a drop of 0.40% in the previous month.
Chinese Caixin/Markit manufacturing PMI index remained flat in January
In China, Caixin/Markit manufacturing PMI index remained flat at a level of 51.50 in January, meeting market expectations.
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