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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE maintained 0.25% interest rate, warned of 2017 slowdown
The BoE’s nine-member monetary policy committee unanimously voted to hold the benchmark interest rate at 0.25% and maintain the current asset purchase programme at £435 billion. Minutes of the meeting indicated that while UK’s economic growth had been “remarkably steady” since the Brexit vote, growth in 2017 is set to falter as firms put investment decisions on hold. The central bank also warned that inflation may not rise as quickly as it expected in the near-term.
UK retail sales surprisingly advanced in November
On a MoM basis, retail sales unexpectedly climbed 0.20% in November, in the UK, compared to a revised rise of 1.80% in the previous month. Markets were anticipating retail sales to remain flat.
UK retail sales rose as expected in November
On a YoY basis, retail sales climbed 5.90% in the UK, in November, in line with market expectations. Retail sales had risen by a revised 7.20% in the prior month.
Euro-zone new car registrations in EU 28 countries climbed in November
New car registrations in the EU 28 countries advanced 5.80% on an annual basis in the Euro-zone, in November. New car registrations in the EU 28 countries had registered a flat reading in the previous month.
Euro-zone services PMI registered a surprise drop in December
The preliminary services PMI in the Euro-zone recorded an unexpected drop to a level of 53.10 in December, compared to a level of 53.80 in the previous month. Markets were anticipating services PMI to record a flat reading.
Euro-zone manufacturing PMI rose unexpectedly in December
The flash manufacturing PMI registered an unexpected rise to a level of 54.90 in December, in the Euro-zone, higher than market expectations of a steady reading. In the previous month, the manufacturing PMI had registered a reading of 53.70.
Euro-zone composite PMI remained unchanged in December
In the Euro-zone, the preliminary composite PMI remained steady at 53.90 in December, at par with market expectations.
German manufacturing PMI recorded a rise in December
The flash manufacturing PMI registered a rise to 55.50 in December, in Germany, compared to market expectations of an advance to 54.50. Manufacturing PMI had recorded a reading of 54.30 in the previous month.
German services PMI dropped in December
In December, the preliminary services PMI fell to a level of 53.80 in Germany, compared to a level of 55.10 in the previous month. Markets were anticipating services PMI to ease to 54.90.
French manufacturing PMI climbed in December
In December, the flash manufacturing PMI in France registered a rise to 53.50, compared to market expectations of a rise to 51.80. Manufacturing PMI had registered a reading of 51.70 in the previous month.
French services PMI climbed in December
The preliminary services PMI recorded a rise to 52.60 in December, in France, compared to market expectations of an advance to 51.90. Services PMI had registered a reading of 51.60 in the prior month.
SNB left key interest rate unchanged at -0.75%
The Swiss National Bank (SNB) kept key interest rate unchanged at -0.75%. The SNB Chairman, Thomas Jordan stated that going further, it might become necessary to further lower rates in Switzerland from their current record-low levels and reiterated that the central bank would continue to remain active in the foreign exchange market, as necessary with the Swiss Franc still considered to be significantly overvalued. Further, the SNB slightly downgraded its inflation forecasts. It now sees 2017 inflation at 0.1% versus its previous September forecast of 0.2% and the 2018 estimate has been reduced slightly to 0.5% from 0.6%.
US core CPI climbed in November
In November, the seasonally adjusted core consumer price index (CPI) advanced to 249.36 in the US, compared to market expectations of a rise to 249.40. The core CPI had recorded a level of 248.98 in the prior month.
US Philadelphia Fed manufacturing index climbed in December
In December, Philadelphia Fed manufacturing index registered a rise to 21.50 in the US, compared to market expectations of an advance to a level of 9.10. Philadelphia Fed manufacturing index had registered a level of 7.60 in the prior month.
US CPI dropped in November
Compared to a level of 241.73 in the previous month the non-seasonally adjusted CPI eased to 241.35 in the US, in November. Markets were anticipating the CPI to fall to 241.41.
US CPI rose as expected in November
In the US, the CPI registered a rise of 0.20% on a monthly basis in November, at par with market expectations. In the previous month, the CPI had advanced 0.40%.
US housing market index unexpectedly advanced in December
The housing market index in the US climbed unexpectedly to a level of 70.00 in December, compared to a level of 63.00 in the previous month. Market anticipation was for the housing market index to record a flat reading.
US CPI advanced as expected in November
On an annual basis, the CPI climbed 1.70% in November, in the US, meeting market expectations. In the prior month, the CPI had recorded a rise of 1.60%.
US current account deficit fell in 3Q 2016
The US has registered current account deficit of $113.00 billion in 3Q 2016, compared to a revised current account deficit of $118.30 billion in the prior quarter. Market anticipation was for the nation to record a current account deficit of $111.60 billion.
US NY Empire State manufacturing index advanced in December
The NY Empire State manufacturing index in the US rose to a level of 9.00 in December, compared to market expectations of an advance to 4.00. The NY Empire State manufacturing index had recorded a level of 1.50 in the previous month.
US continuing jobless claims climbed unexpectedly in the last week
The seasonally adjusted continuing jobless claims advanced unexpectedly to 2018.00 K in the week ended 03 December 2016, in the US, compared to a revised level of 2007.00 K in the previous week. Markets were anticipating continuing jobless claims to ease to 2003.00 K.
US CPI (ex-food & energy) rose less than expected in November
On a YoY basis, the CPI (ex-food & energy) climbed 2.10% in November, in the US, less than market expectations for an advance of 2.20%. In the previous month, the CPI (ex-food & energy) had registered a similar rise.
US initial jobless claims fell in the last week
In the US, the seasonally adjusted initial jobless claims registered a drop to 254.00 K in the week ended 10 December 2016, compared to market expectations of a fall to 255.00 K. In the prior week, initial jobless claims had recorded a reading of 258.00 K.
US total net TIC flows rose in October
In October, total net treasury international capital (TIC) flows in the US registered a rise to $18.80 billion. In the prior month, total net TIC flows had registered a revised level of $154.40 billion.
US CPI (ex-food & energy) advanced as expected in November
The CPI (ex-food & energy) in the US advanced 0.20% on a MoM basis in November, at par with market expectations. In the prior month, the CPI (ex-food & energy) had registered a rise of 0.10%.
US Markit manufacturing PMI climbed in December
In December, the flash Markit manufacturing PMI rose to a level of 54.20 in the US, compared to market expectations of an advance to a level of 54.50. In the prior month, the Markit manufacturing PMI had recorded a level of 54.10.
US net TIC long term purchases climbed in October
In October, net TIC long term purchases in the US climbed to $9.40 billion. In the prior month, net TIC long term purchases had recorded a level of $26.20 billion.
Canadian existing home sales eased in November
In Canada, existing home sales fell 5.30% on a monthly basis, in November. Existing home sales had risen 2.40% in the prior month.
Canadian manufacturing shipments unexpectedly slid in October
In Canada, manufacturing shipments unexpectedly fell 0.80% on a monthly basis in October, lower than market expectations for a rise of 0.40%. In the previous month, manufacturing shipments had climbed 0.30%.
Japanese machine tool orders fell in November
In Japan, the final machine tool orders recorded a drop of 5.60% in November, on an annual basis. In the previous month, machine tool orders had dropped 8.90%. The preliminary figures had also recorded a drop of 5.60%.
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