A closely watched measure of U.K. economic activity surged to the highest since 2018 in January, undercutting the case for a Bank of England interest-rate cut next week. IHS Markit's flash index for output across the whole economy jumped to 52.4 as firms cited reduced political uncertainty in the wake of Boris Johnson's decisive election victory. That's up from 49.3 last month and above levels most economists said would be enough to stave off a rate cut on Jan. 30. Investors see the Purchasing Managers Indexes as a key factor in the debate over BOE easing this month, providing the most...
The wholesale cost of U.S. goods and services posted the sharpest increase in October in six months, but aside from higher gas prices, there was little inflation to be found. The producer price index rose 0.4% last month, a notch higher than the estimate of economists polled by MarketWatch. Producer prices more broadly continued to recede, however. The 12-month rate of wholesale inflation tapered off to a three-year low 1.1% from 1.4%. The yearly rate had surged to as high as 3.4% just a year and a half ago. Source : Market Watch
The headline UK retail sales came in to show an unexpected fall of 0.1% in October as compared to 0.2% growth expected and a flat reading recorded in the previous month. Meanwhile, the core retail sales, stripping the auto motor fuel sales, also fell by 0.3% MoM as against consensus estimates pointing to a 0.2% growth and previous. On an annualized basis, the UK retail sales rose 3.1% in October versus 3.7% growth expected while the core retail sales also advanced 2.7% in the reported month versus +2.9% previous and +3.4% expectations. The dismal data exerted some downward pressure on the...
The German economy escaped a recession in the third quarter as strong consumer spending helped output grow 0.1% quarter-on-quarter, defying expectations of a contraction, preliminary data showed on Thursday. On the year, gross domestic product in Europes largest economy expanded by 0.5% from July through September after a 0.3% expansion from April through June, seasonally adjusted figures from the Federal Statistics Office showed. Private household spending was higher than in the second quarter and the state also increased spending, the statistics office said, adding that construction...
Australian employment unexpectedly declined in October, rekindling the prospect for additional interest-rate reductions and sending the local currency lower. Jobs fell 19,000 from September, compared with economistsforecast of a 15,000 gain; the unemployment rate increased to 5.3% versus an estimated 5.2%. Full-time positions declined by 10,300; part-time roles fell 8,700. Participation rate dropped to 66%; est. 66.1% The Aussie dollar slipped to 68.11 U.S. cents at 11:33 a.m. in Sydney from around 68.38 pre-data. Source: Bloomberg
Americans paid higher prices for gasoline, medical treatment and recreation in October, but inflation more broadly remained low and fairly stable. The consumer price index jumped 0.4% in October, with energy accounting for more than half the increase, the government said Wednesday. Economists polled by MarketWatch had forecast a 0.3% advance. The increase in the cost of living over the past 12 months edged up to 1.8% from 1.7%, but its still well below last years peak of nearly 3%. Another closely watched measure of inflation that strips out food and energy advanced 0.2% last...
A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction.
The manufacturing purchasing...
The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs even before negotiations with China unraveled and he...
Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services.
A flash reading of the country's composite Purchasing...
A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will "have to go out and buy much larger tractors,"...