Daily Review – Wednesday 09-Nov-2016

Daily Review – Wednesday 09-Nov-2016

US – Consumer Credit m/m

Outstanding consumer credit, a gauge of total non-mortgage debt, increased by a seasonally adjusted $19.3B in September.

This was more than the $17.6B analysts were expecting, but less than the revised $26.8B reported in August.

 

US – NFIB Small Business Index

The Index of Small Business Optimism rose 0.8 points to 94.9 for October, remaining in the 94 range that it has been in for the past five months and well below the 42 year average of 98.

 

US – JOLTS Job Openings

US companies has a total number of 5.49M job openings in September, up from 5.45M in August.

The US has created an average of 181K new jobs a month so far in 2016 and the economy is on track to generate more than 2M for the entire year.

That will mark the sixth straight year in which employment has grown by at least 2M.

 

Canada – Building Permits m/m

Canadian municipalities issued 7.0% less building permits in September compared to August which saw an increase of 11.0%.

Quebec, British Columbia and Ontario recorded the largest declines. The overall decrease was due to lower construction intentions for non-residential buildings, led by commercial structures.

 

Canada – Housing Starts

Annualized number of new residential buildings that began construction during the month of October was 193K, down from 219K in September.

 

UK – Manufacturing Production m/m

Output from UK manufacturers rose by 0.6% in September, up from 0.2% in August and a 0.9% fall in July.

Pharmaceutical producers and factories carrying out repairs grew strongly. However, total industrial production dropped by 0.4% in September after falls in the oil and gas sector.

 

UK – BRC Retail Sales Monitor y/y

Sales by the British retail industry grew 1.7% in October compared to the same month last year.

The big spike, in contrast to the 0.4% for September, was mainly due to the boosted sales of jewellery and watches by tourists taking advantage of the lower GBP.

 

UK – Industrial Production m/m

UK’s September industrial production shows a decrease of 0.4% compared with August.

Mining and quarrying was the main sector to show a fall of 3.8%, partially offset by an increase in manufacturing of 0.6%.

 

 

EU – German Industrial Production m/m

German industrial production was down by 1.8% in September from the previous month.

The figure for August has been revised upwards from 2.5% initially, to 3.0%.

 

EU – German Trade Balance

Germany’s trade balance recorded a surplus of 21.3B euros in September.

Exports increased by 0.9% and imports decreased by 1.4% in September year on year.

 

EU – French Government Budget Balance

The French government’s budget deficit reached 83.0B euros at the end of September, down 12.0B euros from the 96.0B in August.

 

EU – French Trade Balance

France recorded a trade deficit of 4.8B euros in September, 0.6B more than the upward revised 4.2B euros in August.

 

Japan – Leading Indicators

Japan’s index of leading indicators dropped 0.4 points to 100.5, from a downwardly revised 100.9 in August.

The leading indicator is an economic indicator that predicts conditions over the next several months and consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators.

 

China – USD-Denominated Trade Balance

China’s trade surplus expanded in October to $49.1B from $42 billion in September.

Imports declined at an annualized 1.4%, continuing a multi-year downtrend. The value of exports declined at a bigger than expected 7.3% annualized rate, following a 10% drop in August.

 

Australia – NAB Business Confidence

Canadian business confidence in October fell 2 points to +4 index points, below the long-run average of +6.

 

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