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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK GDP dropped more than anticipated in 3Q23
In the UK, GDP fell 0.10% on a QoQ basis in 3Q23, compared to a rise of 0.20% in the previous quarter. Markets were expecting GDP to remain flat.
UK current account deficit narrowed less than expected in 3Q23
In the UK, current account deficit narrowed to £17.18 billion in 3Q23, compared to a revised level of £23.97 billion in prior month. Markets were expecting current account deficit to narrow to £15.00 billion.
UK retail sales rose more than forecasted in November
In the UK, retail sales advanced 1.30% on a MoM basis in November, compared to a revised flat reading in the prior month. Market anticipations were for retail sales to rise 0.40%.
US durable goods orders climbed more than estimated in November
In the US, durable goods orders rose 5.40% in November, compared to a revised fall of 5.10% in the previous month. Markets were expecting durable goods orders to rise 2.20%.
US Michigan consumer sentiment index rose more than expected in December
In the US, the Michigan consumer sentiment index climbed to 69.70 in December, compared to a level of 61.30 in the previous month. Markets were expecting the index to rise to 69.40.
US new home sales declined in November
In the US, new home sales dropped 12.20% on a MoM basis in November, compared to a revised fall of 4.00% in the prior month.
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