Daily Review – Monday 28-Nov-2016

Daily Review – Monday 28-Nov-2016

US – Goods Trade Balance

The US October trade in goods resulted in a higher deficit of $62B, compared to an upwardly revised -56.5B deficit in September.

This broke a four-month steady decline in the deficit from June – September.

 

US – Prelim Wholesale Inventories m/m

The preliminary whole inventories decreased by 0.4% in October, after seeing a small 0.2% increase in the month before.

 

US – Flash Services PMI

Initial flash PMI numbers for the US came in just a tick lower at 54.7 for November, compared to 54.8 in October.

However, the past two months have seen the highest readings over the past 12 months.

 

UK – Second Estimate GDP q/q

The second UK GDP estimate for Q3 resulted in the same growth rate as its preliminary reading at 0.5%.

This is the 15th consecutive quarter of positive growth since Q1’13.

 

UK – Prelim Business Investment q/q

Preliminary growth of UK business investments, officially called Gross Fixed Capital Formation (GFCF), for Q3 were estimated at 0.9%, compared to Q2 which was revised upwardly to 1.0%.

On an annual basis Q3’16 grew 1.2% compared to Q3’15.

 

UK – Index of Services 3m/3m

The UK index of services increased by 0.8% in Q3, the same growth level as in Q2 this year.

 

UK – CBI Realized Sales

Realized sales for retailers in the UK grew to a score of 26 in November, compared to October which saw a reading of 21.

The November reading was the highest over the past 12-months.

 

EU – Italian Retail Sales m/m

The Italian retail sales is on its third consecutive month of decline with a decrease of 0.6% in September.

Consumer spending remains low as uncertainty still persists over the outcome of the Italian constitutional referendum to be held on December 14.

 

Japan – Tokyo Core CPI y/y

The core inflation, consumer prices excluding fresh food, for Tokyo dropped 0.4% in October, identical to the previous month.

 

Japan – National Core CPI y/y

Similar to the Tokyo reading, the national core inflation also dropped 0.4% in October, coming from a -0.5% drop in September.

 

Japan – SPPI y/y

The Japanese services producer price index for November rose 0.5% compared to last year.

Looking at the monthly readings the index is now on a three consecutive month rise.

 

Japan – BOJ Core CPI y/y

The Bank of Japan’s own CPI report showed an inflation rate of 0.3% in October compared to a year ago, an improvement of 0.1% from the 0.2% in September.

 

New Zealand – Trade Balance

The October trade balance for New Zealand showed a deficit of 846M, a substantially 548M lower than the 1,394M in September.

 

Upcoming Data Releases

Daily Review - Tuesday 29-Nov-2016 Daily Review - Friday 25-Nov-2016