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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German consumer confidence index surprisingly eased in September
In Germany, the consumer confidence index recorded an unexpected drop to a level of 10.50 in September, compared to a level of 10.60 in the prior month. Markets were anticipating the index to record an unchanged reading.
US pending home sales unexpectedly eased in July
In July, pending home sales in the US registered an unexpected drop of 0.70% on a monthly basis, lower than market expectations for a rise of 0.30%. Pending home sales had climbed by a revised 1.00% in the previous month.
US annualised GDP rose more than expected in 2Q 2018
The second estimate of annualised gross domestic product in the US recorded a rise of 4.20% in 2Q 2018 on a QoQ basis, compared to a revised advance of 2.20% in the prior quarter. Market expectation was for the annualised GDP to rise 4.00%. The preliminary figures had recorded a rise of 4.10%.
US GDP price index advanced as expected in 2Q 2018
In the US, the second estimate of gross domestic product (GDP) price index advanced 3.00% on a quarterly basis in 2Q 2018, in the US, compared to a revised advance of 2.00% in the prior quarter. Market anticipation was for the GDP price index to advance 3.00%.
Canadian current account deficit fell in 2Q 2018
In 2Q 2018, current account deficit in Canada dropped to C$15.88 billion, following a revised deficit of C$17.48 billion in the previous quarter. Markets were anticipating the country’s deficit to drop to C$15.30 billion.
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