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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone industrial production rose more than expected in October
In the Euro-zone, seasonally adjusted industrial production rose 2.10% on a MoM basis in October, compared to a revised advance of 0.10% in the prior month. Markets were expecting industrial production to record a rise of 2.00%.
Chinese retail sales advanced less than expected in November
In China, retail sales climbed 5.00% on a YoY basis in November, compared to an advance of 4.30% in the previous month. Markets were expecting retail sales to advance 5.20%.
Chinese industrial production advanced as expected in November
In China, industrial production recorded a jump of 7.00% on a YoY basis in November, at par with market expectations and compared to a rise of 6.90% in the previous month.
RBA minutes: officials ready to add more stimulus if needed
Minutes of the Reserve Bank of Australia’s (RBA) December meeting signalled that policymakers reiterated to keep interest rates at 0.1% for at least three years and to not tighten until inflation was sustainably back in a 2%-3% target range. The officials indicated that lowering the country’s unemployment would be the bank’s national priority. Also, the minutes revealed that “substantial” monetary and fiscal support would be needed for a considerable period and the Board remained ready to add more stimulus, if needed.
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