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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK consumer confidence dropped in September
In the UK, the consumer confidence index eased to a level of -9.00 in September, compared to market expectations of a fall to a level of – 8.00. The index had recorded a reading of -7.00 in the prior month.
ECB Bulletin: Growth expected to slowdown in the near term
The European Central Bank (ECB), in its latest economic bulletin, stated that the Euro-zone economy is likely to slow down in the near term, while the effects of expanding trade conflict might weigh on global economic momentum. Meanwhile, the central bank noted that it would hold rates at record lows through next summer, while also signalled for a small rate increase in the fourth quarter of 2019.
Euro-zone economic sentiment indicator dropped in September
The economic sentiment indicator in the Euro-zone recorded a drop to a level of 110.90 in September, compared to a reading of 111.60 in the prior month. Market expectation was for the indicator to fall to a level of 111.20.
German CPI advanced more than expected in September
On a monthly basis, in Germany, the flash consumer price index (CPI) recorded a rise of 0.40% in September, more than market expectations for an advance of 0.10%. The CPI had advanced 0.10% in the previous month.
US annualised GDP advanced as expected in 2Q 2018
In the US, the final annualised GDP advanced 4.20%, on a quarterly basis, in 2Q 2018, in line with market expectations. In the prior quarter, the GDP had climbed by a revised 2.20%.
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