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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index rose more than expected in the August-October 2015 period
The Halifax house price index advanced 9.70% in the UK, on a YoY basis in the August-October 2015 period, more than market expectations for an advance of 9.50%. In the July-September 2015 period, the Halifax house price index had recorded a rise of 8.60%.
UK Halifax house price index rises more than expected in October
On a monthly basis, in October, the Halifax house price index climbed 1.10% in the UK, compared to a fall of 0.90% in the previous month. Markets were anticipating the Halifax house price index to climb 0.60%.
UK new car registrations slid in October
New car registrations in the UK fell 1.10% on a YoY basis, in October. In the prior month, new car registrations had registered a rise of 8.60%.
BoE voted 8-1 to keep interest rate steady
Minutes from the BoE’s most recent monetary policy meeting showed that the Monetary Policy Committee voted 8-1 to keep rates on hold at a record low of 0.5% and in line with expectations. In the minutes, majority of the policymakers expressed concerns saying underlying price pressures were not strong enough to justify tightening of the policy. The central bank also trimmed its growth forecast for the UK for 2015 and 2016 in its inflation report and stated that the strong Pound will continue to push down on inflation and this effect will only slowly diminish.
BoE Governor says interest rates would remain lower for longer
Following BoE’s decision to keep interest rates unchanged at 0.50%, the UK central bank Governor Mark Carney stated that he continues to see the need for a gradual rise in interest rates to bring inflation back to target. However, he warned, that the global economic growth outlook has weakened since the BoE’s previous inflation report and added that the nation needs record low interest rates for more time as China continues to drag on the world economy.
UK BoE asset purchase facility remained unchanged
BoE asset purchase facility in the UK remained unchanged at a level of £375.00 billion. Market anticipation was for BoE asset purchase facility to record a flat reading.
ECB to review the current QE programme in December
The European Central Bank (ECB) President, Mario Draghi stated that the central bank’s quantitative easing programme implemented so far has been undoubtedly effective. However, he also added that the programme might not be appropriate for much longer and that ECB’s governing council would assess the situation in the December meeting and if not convinced it would consider steps to intensify its stimulus program. The ECB Chief revealed that if the central bank’s asset purchase programme was brought to an end, it would have still have many tools at its disposal which might be used to ensure inflation will return to its goal.
Euro-zone retail sales unexpectedly fell in September
In September, on a monthly basis, the seasonally adjusted retail sales in the Euro-zone recorded an unexpected drop of 0.10%, less than market expectations for a rise of 0.20%. In the previous month, retail sales had registered an unchanged reading.
German factory orders unexpectedly slid in September
On an annual basis, in September, the non-seasonally adjusted factory orders registered an unexpected drop of 1.00% in Germany, lower than market expectations for an advance of 1.90%. Factory orders had climbed by a revised 1.70% in the previous month.
German factory orders unexpectedly dropped in September
In September, the seasonally adjusted factory orders in Germany unexpectedly fell 1.70% on a MoM basis, compared to a fall of 1.80% in the prior month. Market anticipation was for factory orders to advance 1.00%.
Swiss CPI declined as expected in October
In Switzerland, the consumer price index (CPI) recorded a drop of 1.40% in October on a YoY basis, compared to a similar fall in the prior month. Market expectation was for the consumer price index to fall 1.40%.
Swiss CPI surprisingly advanced in October
The CPI in Switzerland registered an unexpected rise of 0.10% on a MoM basis in October, more than market expectations for an unchanged reading. The consumer price index had registered a similar rise in the previous month.
Swiss EU HICP remained steady in October
In October, on a monthly basis, the EU harmonised consumer price index (HICP) remained unchanged in Switzerland. In the prior month, the EU HICP had risen 0.40%.
Swiss SECO consumer climate recorded a rise in 4Q 2015
In Switzerland, the SECO consumer climate rose to a level of -18.00 in 4Q 2015, higher than market expectations of an advance to a level of -17.00. In the previous quarter, the SECO consumer climate had registered a level of -19.00.
Swiss EU HICP recorded a drop in October
The EU HICP in Switzerland registered a drop of 1.20% in October on a YoY basis. The EU HICP had registered a similar fall in the previous month.
US unit labor costs in non-farm businesses advanced less than expected in 3Q 2015
In the US, the flash unit labor costs in non-farm businesses advanced 1.40% on a quarterly basis in 3Q 2015, lower than market expectations for an advance of 2.50%. In the previous quarter, the unit labor costs in non-farm businesses had recorded a drop of 1.40%.
US continuing jobless claims climbed unexpectedly in the last week
Compared to a revised level of 2146.00 K in the prior week the seasonally adjusted continuing jobless claims in the US advanced unexpectedly to a level of 2163.00 K in the week ended 24 October 2015. Market expectation was for continuing jobless claims to ease to 2140.00 K.
US number of planned layoffs by US companies recorded a drop in October
In the US, the number of planned layoffs by US companies dropped 1.30% on an annual basis, in October. In the prior month, the number of planned layoffs by US companies had registered a rise of 93.20%.
US initial jobless claims climbed in the last week
The seasonally adjusted initial jobless claims rose to a level of 276.00 K in the week ended 31 October 2015, in the US, compared to market expectations of an advance to a level of 262.00 K. Initial jobless claims had recorded a level of 260.00 K in the prior week.
US non-farm business productivity registered an unexpected rise in 3Q 2015
On a quarterly basis in the US, the preliminary non-farm business productivity unexpectedly climbed 1.60% in 3Q 2015, higher than market expectations for a drop of 0.30%. In the prior quarter, the non-farm business productivity had advanced by a revised 3.50%.
Canadian Ivey PMI slid surprisingly in October
In October, the seasonally adjusted Ivey PMI in Canada eased unexpectedly to 53.10, compared to market expectations of a rise to 54.00. In the previous month, Ivey PMI had recorded a reading of 53.70.
Canadian Ivey PMI recorded a drop in October
In Canada, the non-seasonally adjusted Ivey PMI registered a drop to 52.30 in October, compared to a level of 63.30 in the previous month.
Japanese investors remained net buyers of foreign stocks in the previous week
Japanese investors were net buyers of ¥173.00 billion worth of foreign stocks in the week ended 30 October 2015, as compared to being net buyers of a revised ¥158.90 billion worth of foreign stocks in the previous week.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥710.50 billion worth of Japanese bonds in the week ended 30 October 2015, from being net buyers of a revised ¥771.20 billion worth of Japanese bonds in the previous week.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors remained net buyers of ¥882.80 billion worth of foreign bonds in the week ended 30 October 2015, from being net buyers of a revised ¥464.90 billion worth of foreign bonds in the previous week.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors remained net buyers of ¥187.10 billion worth of Japanese stocks in the week ended 30 October 2015, from being net buyers of a revised ¥325.00 billion worth of Japanese stocks in the previous week.
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