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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone industrial production advanced more than expected in July
In the Euro-zone, seasonally adjusted industrial production advanced 4.10% on a MoM basis in July, compared to a revised rise of 9.50% in the prior month. Markets were expecting industrial production to record a rise 4.00%.
Chinese industrial production rose more than expected in August
In China, industrial production climbed 5.60% on a YoY basis in August, compared to a rise of 4.80% in the previous month. Markets were expecting industrial production to record an advance of 5.10%.
Chinese retail sales climbed more than expected in August
In China, retail sales rose 0.50% on a YoY basis, in August, compared to a fall of 1.10% in the previous month. Markets were anticipating retail sales to rise 0.10%.
RBA minutes: Australian central bank to maintain highly accommodative settings
Minutes of the Reserve Bank of Australia’s (RBA) September meeting signalled that Australia’s central bank will maintain its “highly accommodative settings” as long as required and would not increase its cash rate target until progress is made towards full employment and inflation. Further, the members indicated that recovery was likely to be uneven.
Australian house price index declined more than expected in 2Q 2020
In Australia, the house price index fell 1.80% on a QoQ basis in 2Q 2020, compared to a rise of 1.60% in the previous quarter. Markets were expecting the house price index to record a drop of 1.00%.
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