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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK construction PMI unexpectedly dropped in September
The construction PMI in the UK dropped unexpectedly to a level of 48.10 in September, compared to market expectations of a steady reading. In the prior month, the construction PMI had recorded a reading of 51.10.
UK BRC shop price index dropped in September
In September, on an annual basis, the BRC shop price index in the UK eased 0.10%. In the previous month, the BRC shop price index had registered a drop of 0.30%.
David Davis: UK will be ready to walk away with no deal if Brexit talks with the EU fail
The Brexit Secretary, David Davis, stated that Britain looks to negotiate a Brexit agreement with the European Union (EU). However, if the Brexit talks fail, UK will be ready to walk away without a deal. Further, Davis warned that any error in the talks could cost them billions of pounds.
BoE FPC Minutes warned about substantial risk of Brexit disruption
According to the Bank of England’s (BoE) Financial Policy Committee (FPC) meeting minutes, policymakers warned that Brexit poses “substantial risk” to the ability of British companies to borrow from European banks and to some clearing activity which might have to relocate from London once Brexit takes place. Further, the central bank added that the committee judged the risk of disruption to wholesale UK banking services could be larger than previously estimated.
Euro-zone PPI rose more than expected in August
The producer price index (PPI) registered a rise of 0.30% on a monthly basis in the Euro-zone, in August, more than market expectations for an advance of 0.10%. The PPI had registered an unchanged reading in the prior month.
Italian deficit to GDP (YTD) dropped in 2Q 2017
Deficit to GDP (YTD) in Italy eased to 2.40% in 2Q 2017, compared to a reading of 4.30% in the prior quarter.
Number of people unemployed in Spain increased in September
Number of people unemployed recorded an increase of 27.90 K in Spain, in September, more than market anticipations of an advance of 21.50 K. Number of people unemployed had recorded a gain of 46.40 K in the prior month.
US Redbook index advanced in the last week
On an annual basis, the Redbook index in the US advanced 4.10% in the week ended 29 September 2017. The Redbook index had risen 4.00% in the prior week.
US Redbook index remained unchanged in the last week
In the week ended 29 September 2017, on a MoM basis, the seasonally adjusted Redbook index remained steady in the US. The Redbook index had recorded a flat reading in the previous week.
Japanese consumer confidence index rose in September
Compared to a reading of 43.30 in the prior month the consumer confidence index in Japan climbed to 43.90 in September. Markets were expecting the consumer confidence index to advance to a level of 43.50.
Japanese Markit composite PMI dropped in September
Markit composite PMI in Japan eased to 51.70 in September. In the prior month, Markit composite PMI had recorded a reading of 51.90.
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