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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK net consumer credit rose less than expected in October
Net consumer credit in the UK recorded a rise of £0.90 billion in October, compared to a revised similar rise in the prior month. Markets were anticipating net consumer credit to climb £1.00 billion.
Eurozone consumer confidence index dropped in November
In the Eurozone, the final consumer confidence index fell to a level of -3.90 in November, in line with market expectations. The index had recorded a reading of -2.70 in the previous month.
German CPI rose less than expected in November
In Germany, the flash consumer price index (CPI) recorded a rise of 0.10% on a monthly basis, in November, less than market expectations for a rise of 0.20%. In the prior month, the CPI had registered a rise of 0.20%.
Fed signals interest rate hike in December
Minutes of the US Fed’s November meeting indicated that the central bank is on track to raise the benchmark interest rates again at its December meeting if the US economy evolves as expected. However, policymakers remained concerned on when to pause further rate hikes and how to convey those plans to the public.
US pending home sales unexpectedly fell in October
On a monthly basis, pending home sales in the US unexpectedly dropped 2.60% in October, lower than market expectations for an advance of 0.50%. Pending home sales had advanced by a revised 0.70% in the previous month.
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