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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP advanced more than expected in 3Q 2017
In 3Q 2017, the preliminary gross domestic product (GDP) in the UK, registered a rise of 0.40% on a quarterly basis, more than market expectations for a rise of 0.30%. GDP had climbed 0.30% in the previous quarter.
UK GDP rose as expected in 3Q 2017
In 3Q 2017, on a YoY basis, the preliminary GDP recorded a rise of 1.50% in the UK, meeting market expectations. In the prior quarter, GDP had registered a similar rise.
UK index of services advanced as expected in August
On a MoM basis in August, the index of services climbed 0.40% in the UK, at par with market expectations. In the May-July 2017 period, the index of services had registered a rise of 0.50%.
UK index of services advanced less than expected in August
The index of services advanced 0.20% on a MoM basis in August, in the UK, less than market expectations for a rise of 0.30%. The index of services had recorded a revised drop of 0.10% in the previous month.
German Ifo business climate index unexpectedly advanced in October
The Ifo business climate index in Germany unexpectedly advanced to 116.70 in October, compared to market expectations of a drop to 115.10. In the prior month, the Ifo business climate index had registered a revised reading of 115.30.
German Ifo current assessment index surprisingly advanced in October
The Ifo current assessment index in Germany rose unexpectedly to a level of 124.80 in October, compared to a revised reading of 123.70 in the previous month. Markets were anticipating the Ifo current assessment index to fall to a level of 123.50.
German Ifo business expectations index unexpectedly rose in October
In October, the Ifo business expectations index climbed unexpectedly to 109.10 in Germany, compared to market expectations of a drop to a level of 107.30. In the prior month, the Ifo business expectations index had recorded a revised reading of 107.50.
Italian industrial sales advanced in August
The seasonally adjusted industrial sales in Italy registered a rise of 2.00% in August on a MoM basis. Industrial sales had fallen by a revised 0.20% in the prior month.
Italian industrial orders advanced in August
The seasonally adjusted industrial orders in Italy registered a rise of 8.70% in August on a monthly basis. In the previous month, industrial orders had risen by a revised 0.40%.
Italian industrial orders climbed in August
The non-seasonally adjusted industrial orders in Italy recorded a rise of 12.20% on an annual basis, in August. Industrial orders had registered a rise of 10.10% in the previous month.
Italian industrial sales climbed in August
The non-seasonally adjusted industrial sales in Italy rose 3.40% on a YoY basis, in August. In the previous month, industrial sales had advanced 4.00%.
Spanish PPI rose in September
The producer price index (PPI) climbed 0.50% in Spain on a MoM basis, in September. In the prior month, the PPI had fallen 0.10%.
Spanish PPI rose in September
The PPI in Spain advanced 3.40% on an annual basis, in September. In the prior month, the PPI had registered a revised rise of 3.30%.
Swiss UBS consumption indicator climbed in September
UBS consumption indicator registered a rise to 1.56 in Switzerland, in September, compared to a revised level of 1.50 in the prior month.
Swiss economic expectations index rose in October
The economic expectations index registered a rise to 32.00 in October, in Switzerland, compared to a level of 28.00 in the previous month.
US new home sales unexpectedly climbed in September
New home sales in the US unexpectedly rose by 18.90%, on MoM basis, to a level of 667.00 K in September, compared to market expectations of 554.00 K. New home sales had recorded a revised level of 561.00 K in the previous month.
US durable goods orders (ex transportation) advanced more than expected in September
In September, the flash durable goods orders (ex transportation) in the US recorded a rise of 0.70% on a monthly basis, higher than market expectations for an advance of 0.50%. Durable goods orders (ex transportation) had climbed 0.50% in the prior month.
US mortgage applications fell in the last week
Mortgage applications eased 4.60% on a weekly basis in the US, in the week ended 20 October 2017. In the prior week, mortgage applications had registered a rise of 3.60%.
US non-defence capital goods shipments (ex aircraft) advanced more than expected in September
In September, on a monthly basis, the flash non-defence capital goods shipments (ex aircraft) in the US recorded a rise of 0.70%, compared to an advance of 1.10% in the previous month. Market anticipation was for the non-defence capital goods shipments (ex aircraft) to rise 0.10%.
US housing price index rose more than expected in August
In August, on a MoM basis, the housing price index in the US advanced 0.70%, more than market expectations for a rise of 0.40%. In the previous month, the housing price index had recorded a revised rise of 0.40%.
US non-defence capital goods orders (ex aircraft) rose more than expected in September
In the US, the flash non-defence capital goods orders (ex aircraft) climbed 1.30% on a monthly basis in September, higher than market expectations for an advance of 0.30%. The non-defence capital goods orders (ex aircraft) had recorded a rise of 1.10% in the previous month.
US durable goods orders rose more than expected in September
The preliminary durable goods orders in the US recorded a rise of 2.20% in September on a monthly basis, more than market expectations for a rise of 1.00%. In the previous month, durable goods orders had registered a rise of 2.00%.
BoC held interest rate steady, will be cautious in making future adjustments to rate
The Bank of Canada (BoC) left the benchmark interest rate unchanged at 1.00%, but suggested future increases are still likely, albeit at a more gradual pace. In its monetary policy statement, the central bank disclosed that it decided to hold interest rates as the recent strength of the Canadian dollar is expected to slow the pace of inflation. The central bank is now projecting inflation to rise to 2.00% a bit later in 2018 than previously expected and forecasted Canada’s economy to expand by 3.10% in 2017, 2.10% in 2018 and 1.50% in 2019.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors remained net buyers of ¥55.10 billion worth of foreign stocks in the week ended 20 October 2017, as compared to being net buyers of a revised ¥147.70 billion worth of foreign stocks in the prior week.
Japanese corporate service price index advanced more than expected in September
In September, the corporate service price index in Japan rose 0.90% on an annual basis, more than market expectations for an advance of 0.80%. In the previous month, the corporate service price index had advanced 0.80%.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors remained net buyers of ¥686.00 billion worth of Japanese stocks in the week ended 20 October 2017, from being net buyers of a revised ¥841.80 billion worth of Japanese stocks in the previous week.
Foreign investors turned net sellers of Japanese bonds in the previous week
Foreign investors turned net sellers of ¥410.30 billion worth of Japanese bonds in the week ended 20 October 2017, from being net buyers of a revised ¥207.10 billion worth of Japanese bonds in the prior week.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors remained net buyers of ¥10.90 billion worth of foreign bonds in the week ended 20 October 2017, as compared to being net buyers of a revised ¥271.10 billion worth of foreign bonds in the prior week.
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