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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK ILO unemployment rate remained unchanged in the June-August 2016 period
In the June-August 2016 period, the ILO unemployment rate in the UK remained unchanged at a level of 4.90%. Market anticipation was for the ILO unemployment rate to record a flat reading.
UK average earnings excluding bonus rose more than expected in the June-August 2016 period
The average earnings excluding bonus rose 2.30% on a YoY basis in the UK in the June-August 2016 period, higher than market expectations for an advance of 2.10%. In the May-July 2016 period, the average earnings excluding bonus had advanced by a revised 2.20%.
Number of unemployment benefits claimants in the UK recorded a rise in September
In the UK, number of unemployment benefits claimants climbed by 0.70 K in September, lower than market expectations of an advance of 3.20 K. Number of unemployment benefits claimants had recorded a revised gain of 7.10 K in the previous month.
UK claimant count rate remained unchanged in September
The claimant count rate remained unchanged at a level of 2.30% in September, in the UK, compared to market expectations of a fall to a level of 2.20%.
UK average earnings including bonus advanced as expected in the June-August 2016 period
In the June-August 2016 period, the average earnings including bonus registered a rise of 2.30% on an annual basis in the UK, at par with market expectations. In the May-July 2016 period, the average earnings including bonus had advanced by a revised 2.40%.
Employment in the UK climbed in the June-August 2016 period
Employment in the UK climbed by 106.00 K in the June-August 2016 period, following an advance of 174.00 K in the May-July 2016 period. Markets were expecting employment to rise 76.00 K.
Euro-zone construction output declined in August
In the Euro-zone, the seasonally adjusted construction output dropped 0.90% on a monthly basis, in August. Construction output had climbed by a revised 1.50% in the prior month.
Fed’s Beige Book: US economic activity increased at a modest pace in most regions
The Fed’s latest report on regional economic conditions, known as the Beige book, indicated that most districts in the US reported modest or moderate growth amid tight labour markets and steady wage gains between late August and early October. It also stated that uncertainty in advance of the upcoming presidential election is weighing on some business sectors in the country.
US mortgage applications recorded a rise in the last week
Mortgage applications in the US rose 0.60% in the week ended 14 October 2016 on a weekly basis. In the previous week, mortgage applications had registered a drop of 6.00%.
US building permits recorded a rise in September
In September, building permits recorded a rise of 6.30%, on MoM basis, to an annual rate of 1225.00 K in the US, compared to market expectations of 1165.00 K. Building permits had recorded a revised level of 1152.00 K in the prior month.
US housing starts unexpectedly dropped in September
In September, housing starts in the US recorded an unexpected drop of 9.00%, on MoM basis, to an annual rate of 1047.00 K, lower than market expectations of 1175.00 K. Housing starts had registered a revised reading of 1150.00 K in the prior month.
BoC kept key interest rate unchanged, lowered growth outlook
The Bank of Canada (BoC) held the benchmark interest rate at 0.50% and reduced its growth outlook for the economy, citing a looming slowdown in housing and a weaker outlook for exports. The central bank now expects Canada’s real GDP to expand by 1.1% this year and 2.0% in 2017, down from its July projection of 1.3% and 2.2% respectively.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥365.40 billion worth of Japanese bonds in the week ended 14 October 2016, from being net buyers of ¥289.60 billion worth of Japanese bonds in the previous week.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥145.40 billion worth of foreign stocks in the week ended 14 October 2016, from being net buyers of ¥87.10 billion worth of foreign stocks in the previous week.
Japanese investors turned net buyers of foreign bonds in the previous week
Japanese investors turned net buyers of ¥317.70 billion worth of foreign bonds in the week ended 14 October 2016, as compared to being net sellers of a revised ¥733.80 billion worth of foreign bonds in the previous week.
Japanese all industry activity index rose as expected in August
The all industry activity index climbed 0.20% on a MoM basis in Japan, in August, at par with market expectations. The all industry activity index had registered a revised similar rise in the prior month.
Foreign investors became net buyers of Japanese stocks in the previous week
Foreign investors were net buyers of ¥72.00 billion worth of Japanese stocks in the week ended 14 October 2016, from being net buyers of a revised ¥432.40 billion worth of Japanese stocks in the prior week.
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