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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE left key interest rate unchanged but hints at November rate cut
The BoE unanimously voted to leave the benchmark interest rate steady at 0.25%. They also voted 9-0 to keep the bond-buying programme target at £435.0 billion and to continue with the plan to buy up to £10.0 billion worth of corporate bonds. Further, the central bank’s summary report indicated that the committee will assess the recent economic data along with forthcoming reports at the November forecast and if the assessment at that time is seen as broadly consistent with its August inflation report, then a rate cut could be introduced to support a weakening economy.
UK retail sales declined less than expected in August
In August on a monthly basis, retail sales in the UK slid 0.20%, lower than market expectations for a drop of 0.40%. In the prior month, retail sales had advanced by a revised 1.90%.
UK retail sales rose more than expected in August
On a YoY basis, retail sales in the UK climbed 6.20% in August, more than market expectations for a rise of 5.40%. Retail sales had climbed by a revised 6.30% in the previous month.
Euro-zone new car registrations in EU 28 countries recorded a rise in August
On a YoY basis, new car registrations in the EU 28 countries registered a rise of 10.00% in the Euro-zone, in August. New car registrations in the EU 28 countries had recorded a drop of 1.40% in the previous month.
Euro-zone core CPI rose as expected in August
In August, the final core consumer price index (CPI) in the Euro-zone registered a rise of 0.80% on a YoY basis, in line with market expectations. The preliminary figures had also recorded a rise of 0.80%. The core CPI had risen 0.90% in the previous month.
Euro-zone CPI advanced as expected in August
In August, the CPI climbed 0.10% on a MoM basis in the Euro-zone, in line with market expectations. The CPI had fallen 0.60% in the previous month.
Euro-zone CPI advanced as expected in August
In August, the final CPI climbed 0.20% on an annual basis in the Euro-zone, meeting market expectations. In the prior month, the CPI had registered a similar rise. The preliminary figures had also recorded an advance of 0.20%.
Euro-zone trade surplus registered a drop in July
The Euro-zone has registered the non-seasonally adjusted trade surplus of €5.30 billion in July, following a trade surplus of €29.20 billion in the prior month. Markets were expecting the region to register a trade surplus of €29.60 billion.
Euro-zone trade surplus dropped in July
The Euro-zone has posted the seasonally adjusted trade surplus of €20.00 billion in July, following a revised trade surplus of €23.80 billion in the prior month. Market anticipation was for the region to post a trade surplus of €22.00 billion.
SNB left interest rate on hold at -0.75%
The Swiss National Bank (SNB) left its benchmark interest rate unchanged at a record-low level of -0.75%. The central bank’s accompanying rate statement released after the announcement stated that the Swiss Franc is still significantly overvalued and that the SNB will remain active in the foreign exchange market, as necessary.
US NY Empire State manufacturing index advanced in September
The NY Empire State manufacturing index rose to a level of -1.99 in September, in the US, compared to market expectations of a rise to a level of -1.00. In the previous month, the NY Empire State manufacturing index had registered a reading of -4.21.
US capacity utilisation declined in August
In the US, capacity utilisation recorded a drop to 75.50% in August, compared to a reading of 75.90% in the prior month. Market expectation was for capacity utilisation to ease to a level of 75.70%.
US producer price (ex-food & energy) advanced as expected in August
On a monthly basis in the US, producer price (ex-food & energy) climbed 0.10% in August, compared to a fall of 0.30% in the prior month. Market anticipation was for producer price (ex-food & energy) to climb 0.10%.
US manufacturing production fell more than expected in August
In the US, manufacturing production fell 0.40% on a MoM basis in August, more than market expectations for a drop of 0.30%. Manufacturing production had recorded a revised rise of 0.40% in the prior month.
US initial jobless claims advanced in the last week
In the week ended 10 September 2016, the seasonally adjusted initial jobless claims in the US recorded a rise to 260.00 K, compared to market expectations of a rise to a level of 265.00 K. Initial jobless claims had registered a reading of 259.00 K in the previous week.
US retail sales (ex-auto & gas) unexpectedly fell in August
In the US, retail sales (ex-auto & gas) unexpectedly dropped 0.10% on a monthly basis in August, lower than market expectations for a rise of 0.30%. In the previous month, retail sales (ex-auto & gas) had registered a similar fall.
US producer price remained unchanged in August
On a monthly basis, in August, producer price remained steady in the US, less than market expectations for an advance of 0.10%. Producer price had recorded a drop of 0.40% in the previous month.
US producer price remained steady in August
Producer price remained steady in the US on an annual basis in August, lower than market expectations for an advance of 0.10%. Producer price had registered a drop of 0.20% in the prior month.
US continuing jobless claims recorded a rise in the last week
In the week ended 03 September 2016, the seasonally adjusted continuing jobless claims in the US recorded a rise to 2143.00 K, compared to a revised reading of 2142.00 K in the prior week. Markets were expecting continuing jobless claims to rise to a level of 2150.00 K.
US industrial production declined more than expected in August
Industrial production slid 0.40% on a MoM basis in August, in the US, higher than market expectations for a drop of 0.20%. Industrial production had advanced by a revised 0.60% in the prior month.
US current account deficit dropped in 2Q 2016
The US has registered current account deficit of $119.90 billion in 2Q 2016, from a revised current account deficit of $131.80 billion in the previous quarter. Market expectation was for a current account deficit of $121.00 billion.
US producer price (ex-food & energy) advanced as expected in August
In August, producer price (ex-food & energy) in the US climbed 1.00% on an annual basis, in line with market expectations. In the prior month, producer price (ex-food & energy) had advanced 0.70%.
US Philadelphia Fed manufacturing index rose unexpectedly in September
Philadelphia Fed manufacturing index advanced unexpectedly to 12.80 in the US, in September, higher than market expectations of a fall to 1.00. Philadelphia Fed manufacturing index had registered a level of 2.00 in the prior month.
US retail sales ex-autos recorded an unexpected drop in August
In August, retail sales ex-autos recorded an unexpected drop of 0.10% in the US on a MoM basis, compared to a revised fall of 0.40% in the previous month. Market expectation was for retail sales ex-autos to rise 0.20%.
US business inventories remained steady in July
On a MoM basis, in July, business inventories remained steady in the US, less than market expectations for a rise of 0.10%. In the prior month, business inventories had recorded a rise of 0.20%.
US advance retail sales fell more than expected in August
In August, advance retail sales eased 0.30% in the US, on a MoM basis, higher than market expectations for a drop of 0.10%. Advance retail sales had recorded a revised rise of 0.10% in the previous month.
US retail sales Control Group surprisingly eased in August
On a MoM basis, retail sales Control Group in the US unexpectedly eased 0.10% in August, lower than market expectations for an advance of 0.40%. Retail sales Control Group had registered a revised similar fall in the prior month.
Canadian existing home sales dropped in August
Existing home sales recorded a drop of 3.10% on a MoM basis, in August, in Canada. In the previous month, existing home sales had registered a drop of 1.30%.
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