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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Mark Carney indicated that two more interest rate hikes are likely in coming years
The Bank of England (BoE) Governor, Mark Carney, reassured that the central bank will probably need to hike interest rates a couple more times over the next few years, provided the British economy grows as expected. Further, Carney noted that the central bank will do whatever it can to support the economy in the event of any Brexit shock and would remain “nimble enough” to control inflation.
UK retail sales declined less than expected in October
In October, retail sales fell 0.30% in the UK on a YoY basis, less than market expectations for a fall of 0.50%. Retail sales had advanced by a revised 1.30% in the previous month.
UK retail sales advanced more than expected in October
On a MoM basis, retail sales in the UK advanced 0.30% in October, higher than market expectations for a rise of 0.20%. In the prior month, retail sales had recorded a revised drop of 0.70%.
UK retail sales ex-fuel unexpectedly rose in October
Retail sales ex-fuel in the UK unexpectedly climbed 0.10% on a MoM basis in October, compared to a revised drop of 0.60% in the previous month. Market anticipation was for retail sales ex-fuel to remain flat.
Euro-zone core CPI advanced as expected in October
In October, on a YoY basis, the final core consumer price index (CPI) registered a rise of 0.90% in the Euro-zone, compared to an advance of 1.10% in the previous month. The preliminary figures had also recorded a rise of 0.90%. Market expectation was for the core CPI to rise 0.90%.
Euro-zone new car registrations in EU 28 countries climbed in October
New car registrations in the EU 28 countries recorded a rise of 5.90% on an annual basis, in October, in the Euro-zone. In the prior month, new car registrations in the EU 28 countries had fallen 2.00%.
Euro-zone CPI advanced as expected in October
On a monthly basis, in October, the CPI rose 0.10% in the Euro-zone, compared to a rise of 0.40% in the prior month. Markets were anticipating the CPI to rise 0.10%.
Euro-zone CPI rose as expected in October
In October, the final CPI climbed 1.40% on an annual basis in the Euro-zone, compared to a rise of 1.50% in the prior month. The preliminary figures had also recorded a rise of 1.40%. Market anticipation was for the CPI to rise 1.40%.
French ILO unemployment rate unexpectedly rose in 3Q 2017
ILO unemployment rate advanced unexpectedly to a level of 9.70% in France, in 3Q 2017, higher than market expectations of an unchanged reading. In the prior quarter, ILO unemployment rate had registered a reading of 9.50%.
US continuing jobless claims slid in the last week
The seasonally adjusted continuing jobless claims fell to a level of 1860.00 K in the US, in the week ended 04 November 2017, lower than market expectations of a fall to 1900.00 K. In the prior week, continuing jobless claims had recorded a revised reading of 1904.00 K.
US export price index rose in October
The export price index registered a rise of 2.70% on a YoY basis, in October, in the US. The export price index had registered a revised rise of 2.80% in the prior month.
US import price index advanced less than expected in October
The import price index advanced 0.20% on a monthly basis in October, in the US, compared to a revised rise of 0.80% in the prior month. Market anticipation was for the import price index to rise 0.40%.
US import price index advanced as expected in October
The import price index rose 2.50% on an annual basis in October, in the US, compared to a rise of 2.70% in the prior month. Markets were expecting the import price index to climb 2.50%.
US export price index remained unchanged in October
The export price index remained flat in the US on a MoM basis in October, compared to a revised rise of 0.70% in the prior month. Market anticipation was for the export price index to climb 0.40%.
US capacity utilisation surprisingly climbed in October
In the US, capacity utilisation climbed unexpectedly to a level of 77.00% in October, higher than market expectations of a drop to 76.30%. In the previous month, capacity utilisation had registered a revised reading of 76.40%.
US Philadelphia Fed manufacturing index declined in November
In November, Philadelphia Fed manufacturing index in the US fell to a level of 22.70, compared to market expectations of a drop to 24.60. Philadelphia Fed manufacturing index had registered a reading of 27.90 in the prior month.
US manufacturing production advanced more than expected in October
In October, on a monthly basis, manufacturing production climbed 1.30% in the US, compared to a revised advance of 0.40% in the prior month. Markets were expecting manufacturing production to advance 0.60%.
US housing market index unexpectedly climbed in November
The housing market index registered an unexpected rise to 70.00 in November, in the US, compared to market expectations of a drop to a level of 67.00. The housing market index had recorded a reading of 68.00 in the prior month.
US industrial production advanced more than expected in October
Industrial production advanced 0.90% on a monthly basis in the US in October, more than market expectations for an advance of 0.50%. In the previous month, industrial production had risen by a revised 0.40%.
US initial jobless claims surprisingly climbed in the last week
In the week ended 11 November 2017, the seasonally adjusted initial jobless claims in the US registered an unexpected rise to 249.00 K, compared to a reading of 239.00 K in the previous week. Market expectation was for initial jobless claims to fall to a level of 235.00 K.
Foreign investors remained net buyers of Canadian securities in the previous month
Foreign investors were net buyers of C$16.81 billion worth of Canadian securities in September, as compared to being net buyers of a revised C$9.77 billion worth of Canadian securities in the previous month.
Canadian investors remained net buyers of foreign securities in the previous month
Canadian investors remained net buyers of C$2.41 billion worth of foreign securities in September, from being net buyers of a revised C$12.07 billion worth of foreign securities in the prior month.
Canadian manufacturing shipments surprisingly rose in September
In September, manufacturing shipments unexpectedly climbed 0.50% in Canada on a monthly basis, higher than market expectations for a drop of 0.50%. Manufacturing shipments had recorded a revised rise of 1.40% in the previous month.
Japanese machine tool orders rose in October
In October, on a YoY basis, the final machine tool orders rose 49.80% in Japan. Machine tool orders had registered a rise of 45.00% in the previous month. The preliminary figures had indicated an advance of 49.90%.
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