Daily Review – Wednesday 16-Nov-2016

Daily Review – Wednesday 16-Nov-2016

US – Core Retail Sales m/m

Total US core retail sales, excluding food services, automobiles and home improvement climbed 0.8% in October, from an upwardly revised 0.7% in September.

 

US – Retail Sales m/m

Overall retail sales also increased by 0.8% in October, however, less than the previous month which saw an upwardly revised increase of 1.0%.

October did do better than expected as analysts were expecting a 0.6% rise.

 

US – Empire State Manufacturing Index

The general business conditions index for New York state climbed out of negative territory for the first time in four months, rising 8.3 points from a -6.8 in October to 1.5 in November.

Increases were seen in new orders (3.1) and shipments (8.5). Labor market conditions remained weak, with the number of employees and average workweek indexes both at -10.9. The inventories index dropped to -23.6, pointing to a decline in inventory levels.

 

US – Import Prices m/m

American import prices advanced 0.5% in October after a 0.2% increase in September.

The October increase was driven by higher fuel prices which more than offset decreasing non-fuel prices.

 

US – Business Inventories m/m

US businesses didn’t increase their inventories in September as much as the previous month. September only saw a 0.1% increase, while August inventories increased by 0.2%.

 

UK – CPI y/y

The UK’s consumer prices index rose by 0.9% in the year to October 2016, compared with a 1.0% rise in the year to September.

 

UK – Core CPI y/y

The core CPI index, excluding the volatile food, energy, alcohol, and tobacco items, increased by 1.2%, compared to 1.5% during the previous month.

 

UK – PPI Input m/m

The total UK input price index increased 4.6% in October, compared with a rise of 0.1% in September.

This is the largest monthly increase since comparable records began.

 

UK – PPI Output m/m

Output producer price inflation, also known as, factory gate prices increased 0.6%, compared with an increase of 0.3% in September 2016.

 

UK – RPI y/y

The retail price index for the UK stood at 2.0% in October, compared to the same period a year ago.

 

UK – HPI y/y

The UK house price index increased 7.7% in September, compared to 2015, unchanged from the revised August (7.7%) number.

The average price of a property in the UK in September was £217,888.

 

EU – German Prelim GDP q/q

The preliminary GDP growth number for Germany came in at 0.2% growth for Q3’16.

This was lower than the 0.3% the market was expecting, after seeing a 0.4% rise in Q2’16.

“Growth was slowed down by foreign trade,” the Federal Statistics Office said, adding exports fell slightly on the quarter while imports rose marginally.

 

EU – German ZEW Economic Sentiment

The ZEW Indicator of economic sentiment for Germany has increased substantially in November and now stands at 13.8 points, from 7.6 points in October.

This is the fourth-consecutive month that the index has been increasing.

 

EU – ZEW Economic Sentiment

Economic sentiment concerning the development of the eurozone has slightly improved in November, with the indicator increasing by 3.5 points to 15.8 points, from 12.3 previously.

 

EU – French Final CPI m/m

The October CPI for France remained unchanged at 0.0%, after September noted a fall of 0.2%.

Year-on-year the October CPI grew by 0.4%.

 

EU – Italian Prelim GDP q/q

Italy’s GDP increased by 0.3% in Q3’16 compared to Q2’16 and by 0.9% in comparison with Q3’15.

 

EU – Flash GDP q/q

Flash estimates for the Q3’16 GDP is up 0.3% in the euro area (EA19) and 0.4% up in the EU28.

Compared with Q3’15  EA19 is up 1.6% and EU28 increased 1.8%.

 

EU – Trade Balance

The euro area September trade balance reported a surplus of €24.9B, an increase compared with August (€23.4B).

The euro area seasonally adjusted exports decreased by 0.5% and imports by 1.6% in September compared with August.

 

New Zealand – GDT Price Index

The most recent Global Dairy Trade price auction prices rose by 4.5%, after the 01-November auction reported an 11.4% increase.

 

Upcoming Data Releases

Daily Review - Thursday 17-Nov-2016 Daily Review - Tuesday 15-Nov-2016