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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone unemployment rate unexpectedly declined in November
The unemployment rate in the Euro-zone unexpectedly dropped to 7.90% in November, compared to a revised rate of 8.00% in the previous month. Market expectation was for the unemployment rate to rise to 8.10%.
German trade surplus expanded in November
The seasonally adjusted trade surplus in Germany expanded to €20.50 billion in November, compared to market expectations of a trade surplus of €18.60 billion. Germany had posted a trade surplus of €18.30 billion in the previous month.
German imports surprisingly fall in November
In Germany, the seasonally adjusted imports registered an unexpected drop of 1.60% on a monthly basis, in November, compared to an advance of 1.30% in the previous month. Markets were expecting imports to remain flat.
Officials cautious on future rate hikes, indicates Fed minutes
Minutes of the Fed’s December meeting indicated that the policymakers decided to keep interest rates steady for few months, amid volatile stock markets, trade tensions and signs of slowing global economic growth. However, most of the officials expected strong economic growth later in the year.
BoC maintained its key interest rate
The Bank of Canada (BoC) held its key interest rate steady at 1.75%, citing slowdown in the Canadian economy. Meanwhile, the central bank lowered its economic growth outlook to 1.70% from 2.10% for 2019.
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