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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Andrew Bailey: coronavirus vaccine reduced uncertainty
Bank of England Governor, Andrew Bailey, in his latest speech, stated that the news of a possible Covid-19 vaccine was positive and would help reduce uncertainty about the country’s economic growth.
UK GDP advanced less than expected in 3Q 2020
In the UK, flash GDP recorded a rise of 15.50% on a QoQ basis in 3Q 2020, compared to a fall of 19.80% in the previous quarter. Markets were expecting GDP to record a rise of 15.80%.
UK manufacturing production advanced less than expected in September
In the UK, manufacturing production advanced 0.20% on a MoM basis in September, compared to a revised advance of 0.90% in the prior month. Markets were expecting manufacturing production to advance 1.00%.
Euro-zone industrial production unexpectedly eased in September
In the Euro-zone, seasonally adjusted industrial production eased 0.40% on a MoM basis in September, compared to a revised rise of 0.60% in the prior month. Markets were anticipating industrial production to advance 0.70%.
US CPI rose less than expected in October
In the US, consumer price index (CPI) recorded a rise of 1.20% on a YoY basis in October, compared to an advance of 1.40% in the previous month. Markets were expecting the CPI to record an advance of 1.30%.
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