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Guardian Stockbrokers Key Economic News Tuesday 7 February 2017

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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UK new car registrations rose in January

On an annual basis, new car registrations in the UK registered a rise of 2.90% in January. New car registrations had registered a revised drop of 1.10% in the prior month.

UK retail sales across all sectors surprisingly eased in January

On an annual basis, in the UK, retail sales across all sectors unexpectedly eased 0.60% in January, compared to a rise of 1.00% in the previous month. Markets were anticipating retail sales across all sectors to rise 0.90%.

Mario Draghi stated that the Euro-zone economy still needs ECB support

The European Central Bank (ECB) President, Mario Draghi, during a briefing before a committee of the European Parliament, played down the recent rise in the Euro-zone’s headline inflation and indicated that the economy still requires stimulus. He further stated that the pick-up in inflation was driven mainly by higher energy prices rather than fundamental price pressures in the economy from rising wages. He also rejected US accusations of currency manipulation.

Euro-zone investor confidence index dropped in February

Compared to a reading of 18.20 in the previous month the investor confidence index in the Euro-zone recorded a drop to 17.40 in February. Markets were expecting the investor confidence index to ease to 16.80.

German factory orders advanced more than expected in December

In Germany, the seasonally adjusted factory orders advanced 5.20% on a monthly basis in December, compared to a revised drop of 3.60% in the prior month. Markets were anticipating factory orders to climb 0.70%.

German factory orders rose more than expected in December

In December, the non-seasonally adjusted factory orders climbed 8.10% on a YoY basis in Germany, higher than market expectations for a rise of 4.20%. In the previous month, factory orders had registered a revised rise of 2.00%.

Japanese foreign exchange reserves rose in January

Foreign exchange reserves in Japan rose to a level of $1231.57 billion in January. In the previous month, foreign exchange reserves had recorded a level of $1216.90 billion.

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