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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK CPI fell more than expected in October
In the UK, the consumer price index (CPI) registered a drop of 0.20% on a MoM basis in October, more than market expectations for a fall of 0.10%. In the prior month, the CPI had risen 0.10%.
UK house price balance fell in October
In the UK, house price balance eased to 5.00% in October, compared to market expectations of a drop to a level of 4.00%. In the previous month, house price balance had recorded a level of 2.00%.
Euro-zone industrial production surprisingly advanced in September
In the Euro-zone, the seasonally adjusted industrial production recorded an unexpected rise of 0.10% on a MoM basis in September. In the previous month, industrial production had recorded a rise of 0.40%.
German CPI rose as expected in October
In Germany, the final CPI climbed 0.10% on a MoM basis in October, compared to a flat reading in the previous month. Market expectation was for the CPI to rise 0.10%.
US CPI advanced more than expected in October
In the US, the CPI recorded a rise of 0.40% on a MoM basis in October, higher than market expectations for a rise of 0.30%. The CPI had registered an unchanged reading in the previous month.
Fed Chairman remains positive about the US economy’s sustained expansion
The Federal Reserve (Fed) Chairman, Jerome Powell, in his testimony before the Joint Economic Committee of Congress, indicated that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. Moreover, he expressed confidence over the US economic growth and expects that it will grow at a solid pace, despite slowdown in global economic growth and ongoing trade tensions.
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