Daily Review – Monday 14-Nov-2016

Daily Review – Monday 14-Nov-2016

US – Prelim UoM Consumer Sentiment

The University of Michigan said that its preliminary index of sentiment for November climbed to a five-month high of 91.6 from a revised 87.2 in October.

Job and income gains helped to boost assessments of consumer finances, underscoring forecasts of sustained consumer spending approaching the holiday-shopping season.

 

US – Prelim UoM Inflation Expectations

In the same survey, respondents expected the inflation rate in the next year to be 2.7%, compared with 2.4% in the October survey.

 

US – Federal Budget Balance

The US Treasury reported that its federal budget balance fell to a deficit of -44.2B in October, from a surplus of 33.4B in the preceding month.

Analysts were expecting October’s deficit to be 81.9B.

 

US – 30-y Bond Auction

The latest US Government 30-Year Bond auction resulted in a 2.90% average yield with a 2.1 bid-to-cover ratio.

 

UK – Construction Output m/m

Construction output in September increased by 0.3% compared with August.

All new work increased by 1.2% while there was a fall in repair and maintenance of 1.4%.

Output increased by 0.2% in September 2016 compared with September 2015.

 

EU – German Final CPI m/m

Final CPI for October was 0.2% increase compared to the previous month. No change over the initial flash number.

 

EU – German WPI m/m

Wholesale prices in Germany increased by 0.4% in October compared to September.

On an annual level prices rose 0.5 in October compared to 2015.

 

Japan – PPI y/y

October’s producer price index fell 2.7% compared to last year. The Japanese PPI has fallen every month since the April of 2015.

 

Japan – Tertiary Industry Activity m/m

Japan’s tertiary industry activity index, i.e. services provided to consumers, fell -0.1% in October, from 0.0% in the preceding month.

Analysts expected the Japanese tertiary industry activity index to fall -0.2%.

 

New Zealand – Business NZ Manufacturing Index

New Zealand’s manufacturing PMI for October was 55.2 point, 2.5 points lower from September.

The index has been firmly above 55 points throughout this whole year, only dipping slightly below it in April (54.7).

The manufacturing sector remains solidly in expansion (i.e. >50 points) in almost all months since October 2012.

 

New Zealand – FPI m/m

The food price index of New Zealand dropped 0.8% in October compared to previous month.

Vegetable prices showed the biggest movement in October, down 8% in total. Fruit prices were down 1.8%. As well as lower prices for lettuce and tomatoes, courgettes were down 43 percent.

 

Upcoming Data Releases

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