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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB keeps interest rate steady
The ECB, at its October monetary policy meeting, kept its key interest rate unchanged at 4.00%, as widely expected, and indicated to maintain its current interest rates for longer. Meanwhile, ECB President, Christine Lagarde hinted that the economy will remain weak for the remainder of this year.
US durable goods orders rose more than expected in September
In the US, durable goods orders advanced 4.70% on a MoM basis in September, compared to a revised fall of 0.10% in the previous month. Markets were expecting durable goods to rise 1.70%.
US annualised GDP climbed more than anticipated in 3Q23
In the US, annualised GDP rose 4.90% in 3Q23, compared to a rise of 2.10% in the prior quarter. Markets were expecting GDP to rise 4.30%.
US initial jobless claims advanced more than expected in the week ended 20 October 2023
In the US, initial jobless claims rose to 210.00K in the week ended 20 October 2023, compared to a revised level of 200.00K in the previous week. Markets were expecting jobless claims to rise to 208.00K.
US pending home sales unexpectedly rose in September
In the US, pending home sales unexpectedly advanced 1.10% in September, compared to a drop of 7.10% in the previous month.
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