Daily Review – Thursday 10-Nov-2016

Daily Review – Thursday 10-Nov-2016

US – Crude Oil Inventories

EIA crude oil inventories this week saw a build up of 2.4M barrels, higher than the 1.3M expected by analysts, but a lot lower than last week’s 14.4M.

 

US – Final Wholesale Inventories m/m

US final wholesale inventories for September came in at 0.1% growth, the initial flash number was 0.2%.

 

UK – Goods Trade Balance

The UK’s deficit on trade in goods was £12.7B in September, widening by £1.6B from £11.1B in August.

Exports decreased 0.8% to £26.1B in September, from £26.3B in August. Imports increased by 3.6% to £38.8B in September, from £37.4B in August.

 

EU – EU Economic Forecasts

Highlights from the Autumn 2016 Economic Forecast: Modest growth in challenging times

The European Commission expects GDP growth in the euro area at 1.7% in 2016, 1.5% in 2017 and 1.7% in 2018 (Spring forecast: 2016: 1.6%, 2017: 1.8%).

GDP growth in the EU as a whole should follow a similar pattern and is forecast at 1.8% this year, 1.6% in 2017 and 1.8% in 2018 (Spring forecast: 2016:1.8%, 2017: 1.9%).

 

Japan – Bank Lending y/y

The total value of outstanding bank loans issued to consumers and businesses in Japan increased by 2.4% in October compared to last year. A 0.2% increase with September’s (2.2%) figure.

 

Japan – Economy Watchers Sentiment

Japan’s economy watchers sentiment index climbed to 46.2 points for October, up from 44.8 in the previous month.

The indicator continues to point to pessimism, with readings well under the 50-point level for 15 consecutive months.

 

China – CPI y/y

China’s consumer price index increased 2.1% compared to last year, matching the forecast by analysts and up 0.2% from 1.9% in September.

 

China – PPI y/y

China’s producer price index rose 1.2% in October from a year earlier, compared with a 0.9% forecast by economists.

 

Australia – Westpac Consumer Sentiment

The Westpac-Melbourne Institute survey of consumer sentiment declined 1.1% in November following a gain of 1.1% the prior month.

 

Upcoming Data Releases

Daily Review - Friday 11-Nov-2016 Daily Review - Wednesday 09-Nov-2016