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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK number of mortgage approvals for house purchases unexpectedly climbed in September
In the UK, the number of mortgage approvals for house purchases unexpectedly advanced to a level of 91.45 K in September, compared to a revised level of 85.53 K in the previous month. Markets were anticipating number of mortgage approvals for house purchases to ease to 76.11 K.
ECB kept its interest rate unchanged and hinted about additional stimulus
The European Central Bank (ECB), in its latest monetary policy decision kept its benchmark interest rates unchanged at 0.0% and stated that it would keep its existing asset purchase program at €1.35 trillion. Further, the central bank hinted at more monetary stimulus in December as the two largest economies in the region prepare for a second national lockdown.
Euro-zone consumer confidence index dropped in October
In the Euro-zone, the final consumer confidence index fell to a level of -15.50 in October, compared to a level of -13.90 in the prior month. Markets were expecting the consumer confidence index to record a fall to a level of -15.50.
German unemployment rate unexpectedly fell in October
In Germany, seasonally adjusted unemployment rate unexpectedly eased to 6.20% in October, compared to a rate of 6.30% in the previous month. Markets were expecting unemployment rate to record a steady rate of 6.30%.
US annualised GDP climbed more than expected in 3Q 2020
In the US, the preliminary annualised GDP recorded a surge of 33.10% on a QoQ basis in 3Q 2020, compared to a drop of 31.40% in the previous quarter. Markets were expecting GDP to record a rise of 31.00%.
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