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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone labour cost rose in 3Q 2016
In the Euro-zone, labour cost climbed 1.50% in 3Q 2016 on a quarterly basis. Labour cost had advanced 1.00% in the prior quarter.
Euro-zone construction output advanced in October
On a monthly basis, the seasonally adjusted construction output in the Euro-zone advanced 0.80% in October. Construction output had registered a revised drop of 0.80% in the prior month.
German Ifo current assessment index climbed in December
The Ifo current assessment index recorded a rise to 116.60 in Germany, in December, compared to a reading of 115.60 in the previous month. Markets were anticipating the Ifo current assessment index to climb to 115.90.
German Ifo business expectations index advanced in December
In December, the Ifo business expectations index in Germany recorded a rise to 105.60, in line with market expectations. In the prior month, the Ifo business expectations index had recorded a level of 105.50.
German Ifo business climate index advanced in December
The Ifo business climate index registered a rise to 111.00 in December, in Germany, compared to market expectations of an advance to 110.60. The Ifo business climate index had registered a level of 110.40 in the previous month.
US Markit services PMI declined surprisingly in December
In the US, the preliminary Markit services PMI eased unexpectedly to 53.40 in December, compared to market expectations of an advance to 55.20. Markit services PMI had registered a reading of 54.60 in the previous month.
US Markit composite PMI fell in December
In December, the preliminary Markit composite PMI registered a drop to 53.70 in the US. Markit composite PMI had registered a reading of 54.90 in the previous month.
BoJ left key interest rate unchanged at -0.10%, upgraded economic outlook
The BoJ maintained its benchmark interest rate at -0.10%, meeting market expectations. The BoJ kept monetary policy steady and took a more positive view of the economy, strengthening market expectations that its future policy direction could be an increase in interest rates rather than a rate cut. The central bank also warned that inflation expectations remain weak and risks to the outlook abound, ranging from developments in the Chinese and US economies to Brexit and geopolitical uncertainties.
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