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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK index of services advanced less than expected in October
The index of services rose 0.10% on a MoM basis in the UK, in October, lower than market expectations for an advance of 0.20%. The index of services had advanced by a revised 0.50% in the prior month.
UK total business investment rose as expected in 3Q 2015
The final total business investment in the UK rose 2.20% in 3Q 2015 on a QoQ basis, compared to an advance of 1.60% in the previous quarter. Markets were expecting total business investment to rise 2.20%. The preliminary figures had also indicated a rise of 2.20%.
UK index of services rose less than expected in October
The index of services in the UK recorded a rise of 0.50% for the three months ended October, compared to a revised advance of 0.60% in the July-September 2015 period. Market anticipation was for the index of services to advance 0.60%.
UK current account deficit remained unchanged in 3Q 2015
In 3Q 2015, current account deficit in the UK recorded an unchanged reading of £17.50 billion, compared to a revised current account deficit of £17.50 billion in the prior quarter. Markets were anticipating the nation to record a current account deficit of £21.50 billion.
UK business barometer slid in December
The business barometer fell to a level of 45.00 in December, in the UK. The business barometer had recorded a level of 55.00 in the prior month.
UK total business investment recorded a rise in 3Q 2015
The final total business investment climbed 5.80% on an annual basis, in 3Q 2015, in the UK. In the prior quarter, total business investment had registered a rise of 3.10%. The preliminary figures had indicated an advance of 6.60%.
UK GDP advanced less than expected in 3Q 2015
In 3Q 2015, the final gross domestic product (GDP) climbed 2.10% on a YoY basis in the UK, lower than market expectations for an advance of 2.30%. The preliminary figures had indicated an advance of 2.30%. In the prior quarter, GDP had advanced 2.40%.
UK GDP advanced less than expected in 3Q 2015
On a QoQ basis, in 3Q 2015, the final GDP climbed 0.40% in the UK, compared to an advance of 0.70% in the previous quarter. Market expectation was for GDP to rise 0.50%. The preliminary figures had recorded an advance of 0.50%.
French GDP advanced as expected in 3Q 2015
In 3Q 2015, the final GDP rose 0.30% in France on a quarterly basis, at par with market expectations. The preliminary figures had also recorded a rise of 0.30%. In the previous quarter, GDP had registered a flat reading.
French consumer spending surprisingly fell in November
On a MoM basis, consumer spending in France unexpectedly dropped 1.10% in November, lower than market expectations for a rise of 0.10%. In the prior month, consumer spending had registered a revised drop of 0.20%.
Italian industrial sales registered a rise in October
On a MoM basis, the seasonally adjusted industrial sales recorded a rise of 2.00% in Italy, in October. In the previous month, industrial sales had registered a drop of 0.10%.
Italian retail sales recorded an unexpected drop in October
In Italy, the seasonally adjusted retail sales unexpectedly eased 0.30% in October on a MoM basis, compared to a fall of 0.10% in the previous month. Markets were expecting retail sales to rise 0.30%.
Italian industrial sales climbed in October
In Italy, the non-seasonally adjusted industrial sales recorded a rise of 1.60% on an annual basis, in October. In the previous month, industrial sales had recorded a drop of 0.90%.
Italian retail sales advanced more than expected in October
In October, the non-seasonally adjusted retail sales advanced 1.80% on an annual basis in Italy, higher than market expectations for an advance of 1.70%. In the prior month, retail sales had registered a rise of 1.50%.
Italian industrial orders advanced in October
The non-seasonally adjusted industrial orders in Italy rose 2.20% on a YoY basis, in October. In the prior month, industrial orders had dropped 0.80%.
Italian industrial orders rose in October
On a monthly basis, the seasonally adjusted industrial orders registered a rise of 4.60% in October, in Italy. Industrial orders had registered a revised drop of 2.10% in the previous month.
Spanish PPI registered a drop in November
The producer price index (PPI) in Spain recorded a drop of 2.60% on a YoY basis, in November. In the previous month, the PPI had dropped by a revised 3.60%.
Spanish PPI slid in November
The PPI in Spain registered a drop of 0.20% in November on a monthly basis. The PPI had fallen by a revised 0.80% in the prior month.
Swiss KOF economic barometer slid unexpectedly in December
The KOF economic barometer in Switzerland fell unexpectedly to 96.60 in December, compared to a revised level of 97.30 in the previous month. Market expectation was for the KOF economic barometer to rise to 98.70.
US durable goods orders (ex transportation) surprisingly eased in November
The preliminary durable goods orders (ex transportation) unexpectedly eased 0.10% on a MoM basis in November, in the US, compared to an advance of 0.50% in the prior month. Markets were expecting durable goods orders (ex transportation) to record a flat reading.
US personal spending rose as expected in November
The personal spending rose 0.30% on a monthly basis in November, in the US, compared to a revised flat reading in the previous month. Market anticipation was for personal spending to climb 0.30%.
US mortgage applications recorded a rise in the last week
The mortgage applications in the US registered a rise of 7.30% in the week ended 18 December 2015 on a weekly basis. Mortgage applications had dropped 1.10% in the prior week.
US durable goods orders remained unchanged in November
The preliminary durable goods orders in the US remained flat on a monthly basis, more than market expectations for a drop of 0.60%. In the previous month, durable goods orders had advanced 2.90%.
US core personal consumption expenditure rose as expected in November
On a MoM basis, core personal consumption expenditure registered a rise of 0.10% in November, in the US, compared to an unchanged reading in the prior month. Markets were anticipating core personal consumption expenditure to rise 0.10%.
US personal consumption expenditure deflator rose as expected in November
On a YoY basis in the US, personal consumption expenditure deflator recorded a rise of 0.40% in November, in line with market expectations. Personal consumption expenditure deflator had registered a rise of 0.20% in the previous month.
US non-defense capital goods orders (ex aircraft) fell more than expected in November
In November, the preliminary non-defense capital goods orders (ex aircraft) dropped 0.40% on a MoM basis in the US, higher than market expectations for a fall of 0.20%. In the previous month, the non-defense capital goods orders (ex aircraft) had climbed 1.30%.
US non-defense capital goods shipments (ex aircraft) unexpectedly slid in November
On a MoM basis in the US, the preliminary non-defense capital goods shipments (ex aircraft) unexpectedly fell 0.50% in November, lower than market expectations for an advance of 0.50%. The non-defense capital goods shipments (ex aircraft) had registered a similar fall in the prior month.
US personal consumption expenditure deflator remained flat in November
On a MoM basis in November, personal consumption expenditure deflator remained steady in the US, less than market expectations for an advance of 0.10%. Personal consumption expenditure deflator had climbed 0.10% in the previous month.
US Reuters/Michigan consumer sentiment index climbed in December
In December, the final Reuters/Michigan consumer sentiment index in the US advanced to 92.60, compared to market expectations of an advance to 92.00. In the previous month, the Reuters/Michigan consumer sentiment index had recorded a level of 91.30. The preliminary figures had indicated a rise to 91.80.
US new home sales climbed in November
In the US, new home sales recorded a rise of 4.30%, on monthly basis, to a level of 490.00 K in November, compared to a revised level of 470.00 K in the prior month. Markets were expecting new home sales to rise to a level of 505.00 K.
US core personal consumption expenditure advanced as expected in November
Core personal consumption expenditure in the US advanced 1.30% in November on an annual basis, in line with market expectations. In the previous month, core personal consumption expenditure had registered a similar rise.
US personal income advanced more than expected in November
In November, personal income recorded a rise of 0.30% on a monthly basis in the US, compared to a rise of 0.40% in the previous month. Market anticipation was for personal income to rise 0.20%.
Canadian retail sales advanced less than expected in October
The retail sales in Canada registered a rise of 0.10% in October on a monthly basis, less than market expectations for an advance of 0.40%. In the prior month, retail sales had fallen 0.40%.
Canadian retail sales (ex-autos) remained flat in October
On a monthly basis, retail sales (ex-autos) in Canada remained unchanged in October, lower than market expectations for a rise of 0.40%. In the previous month, retail sales (ex-autos) had registered a revised drop of 0.40%.
BoJ minutes said moderate economic recovery continued
Minutes of the Bank of Japan’s (BoJ) November 18-19 monetary policy meeting revealed that the board members shared the view that the nation’s economic recovery was continuing at a moderate pace. Also, the majority of the policymakers believed that an underlying trend in inflation has been improving steadily and stated that they were open to making policy adjustments if the underlying trend in inflation changed. The minutes indicated that the steady improvement in employment and income situation has made private consumption resilient and led to a pickup in housing investment. However, the board cited weakness from commodity-exporting economies posing a downside risk to the Japanese economy.
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