Guardian Stockbrokers Key Economic News Wednesday 8 February 2023

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.


UK Halifax house prices index recorded flat reading for January

In the UK, the Halifax house prices index recorded a flat reading in January, compared to a revised drop of 1.30% in the prior month.

German industrial production dropped more than expected in December

In Germany, industrial production fell 3.10% on a MoM basis in December, compared to a revised rise of 0.40% in the prior month. Markets were expecting industrial production to fall 0.60%.

Fed Chair Jerome Powell indicated further rate hikes

US Federal Reserve (Fed) Chairman, Jerome Powell reiterated in his speech that inflation is beginning to ease. However, the Fed warned of potential future interest rate hikes to curb inflation.

US goods trade deficit widened in December

In the US, goods trade deficit widened to $90.60 billion in December, compared to a deficit of $84.10 billion in the prior month.

US consumer credit rose less than anticipated in December

In the US, consumer credit rose by $11.56 billion in December, compared to $27.96 billion in the previous month. Market anticipations were for consumer credit to advance by $24.00 billion.

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