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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Euro-zone industrial production declined as expected in October
In the Euro-zone, the seasonally adjusted industrial production slid 0.50% on a MoM basis in October, at par with market expectations. In the previous month, industrial production had dropped by a revised 0.10%.
ECB keeps its key interest rates unchanged
The European Central Bank (ECB), in its December monetary policy meeting, held the benchmark interest rate unchanged at 0.00%. In an accompanying statement, the central bank reiterated that it expects to keep the interest rate on hold or lower levels until the inflation outlook
robustly converges to a level sufficiently close to, but below, 2.00%. Moreover, the ECB predicts annual real GDP growth for the region at 1.2% in 2019 and 1.1% in 2020, while 1.4% in both, 2021 and 2022.
German CPI fell as expected in November
In Germany, the final consumer price index (CPI) recorded a drop of 0.80% on a MoM basis in November, in line with market expectations. The CPI had risen 0.10% in the prior month.
US initial jobless claims advanced in the last week
In the US, the seasonally adjusted initial jobless claims climbed to a level of 252.00 K in the week ended 07 December 2019, compared to market expectations of a rise to a level of 213.00 K. Initial jobless claims had recorded a reading of 203.00 K in the prior week.
Japanese industrial production fell more than expected in October
In Japan, the final industrial production recorded a drop of 4.50% on a MoM basis in October, higher than market expectations for a drop of 4.20%. In the prior month, industrial production had registered a rise of 1.70%
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