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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Andrew Bailey: Risks are very much to the downside
Bank of England (BoE) Governor, Andrew Bailey, in his latest speech, stated that risks to Britain’s economy were “very much to the downside” as it tries to recover from the coronavirus pandemic. He believed that Britain and the European Union should be able to reach a trade deal and stated that risks to Britain’s economy were “very much to the downside” as it tries to recover from the coronavirus crisis.
German trade surplus narrowed in August
In Germany, seasonally adjusted trade surplus narrowed to €15.70 billion in August, compared to a trade surplus of €18.00 billion in the previous month.
German current account surplus narrowed more than expected in August
In Germany, the non-seasonally adjusted current account surplus narrowed to €16.50 billion in August. Germany had posted a current account surplus of €21.00 billion in the prior month.
US number of initial jobless claims dropped less than anticipated in the week ended 02 October 2020
In the US, seasonally adjusted number of initial jobless claims declined to 840.00 K in the week ended 02 October 2020, compared to a revised level of 849.00 K in the previous week. Market expectations were for number of initial jobless claims to drop to 820.00 K.
Chinese services PMI index rose in September
In China, the services PMI index unexpectedly advanced to a level of 54.80 in September, compared to a reading of 54.00 in the prior month.
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