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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI advanced as expected in November
In the UK, the consumer price index (CPI) rose 0.20% on a monthly basis in November, at par with market expectations. The CPI had climbed 0.10% in the previous month.
UK house price index advanced less than expected in October
The house price index in the UK advanced 2.70% on a YoY basis, in October, compared to a revised advance of 3.00% in the previous month. Markets were anticipating the index to rise 3.40%.
Euro-zone construction output declined in October
The seasonally adjusted construction output in the Euro-zone dropped 1.60% on a monthly basis, in October. Construction output had registered a revised rise of 2.10% in the prior month.
US Fed raised its interest rates, signalled two rate hikes in 2019
The US Fed, at its December monetary policy meeting, as widely anticipated, increased its key interest rate by 25 basis points to a range of 2.25% to 2.50%. However, the central bank lowered its forecast for rate hike to two in 2019, citing slowdown in the global economy.
US existing home sales unexpectedly rose in November
In the US, existing home sales unexpectedly climbed by 1.90%, on monthly basis, to a level of 5.32 million in November, higher than market expectations of 5.20 million. In the prior month, existing home sales had recorded a reading of 5.22 million.
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