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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Andrew Bailey: Vaccine would be ‘a big step forward’ for the UK economy
The Bank of England Governor, Andrew Bailey, has urged loosening financial policies to boost higher long term “productive investment” in the UK. Further, he stated that the development of the coronavirus vaccine would be “a big step forward” for the economy that could help lower uncertainty and strengthen investment.
US manufacturing production climbed as expected in October
In the US, manufacturing production advanced 1.00% on a MoM basis in October, in line with expectations and compared to a revised rise of 0.10% in the previous month.
US industrial production advanced more than expected in October
In the US, industrial production climbed 1.10% on a MoM basis in October, compared to a revised fall of 0.40% in the previous month. Markets were expecting industrial production to record a rise of 1.00%.
US advance retail sales rose less than expected in October
In the US, advance retail sales registered a rise of 0.30% on a MoM basis in October, compared to a revised rise of 1.60% in the prior month. Markets were expecting retail sales to record an advance of 0.50%.
US housing market index unexpectedly advanced in November
In the US, the housing market index unexpectedly climbed to a level of 90.00 in November, compared to a reading of 85.00 in the previous month. Markets were expecting the housing market index to record a steady reading of 85.00.
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