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| As on Dec 06, 2019 12:00 AM |
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Germany's industrial production decreased 1.7 percent on a monthly basis in October, bigger than the revised 0.6 percent fall logged in September, data from Destatis revealed on Friday. On a yearly basis, industrial output declined sharply by 5.3 percent after easing 4.5 percent in September. Production was expected to decline 3.6 percent in October. Excluding energy and construction, production was down by 1.7 percent. Powered by Commodity Insights |
Japan's leading index, which measures the future economic activity, came in at 91.8 in October, down from 91.9 in September, data from the Cabinet Office showed on Friday. The latest index was the lowest since November 2009, when it was 90.5. The coincident index that reflects the current economic activity decreased to 94.8 in October from 100.4 in the preceding month. Meanwhile, the lagging index rose to 104.4 in October from 104.2 in the prior month. Powered by Commodity Insights |
UK house prices increased 2.1 percent on a yearly basis in three months to November, following a 0.9 percent rise in three months to October, from the Lloyds Bank subsidiary Halifax and IHS Markit showed on Friday. Prices increased at the fastest pace since April, when inflation was 2.6 percent. Month-on-month, house prices advanced by a more-than-expected 1 percent, in contrast to a 0.1 percent fall in October. Prices were expected to gain 0.2 percent. Powered by Commodity Insights |
The Labor Department released a report on Thursday showing an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended November 30th. The report said initial jobless claims slipped to 203,000, a decrease of 10,000 from the previous week's unrevised level of 213,000. With the unexpected decrease, jobless claims fell to their lowest level since hitting 193,000 in the week ended April 13th. Powered by Commodity Insights |
US new orders for manufactured goods rose by 0.3 percent in October after falling by a revised 0.8 percent in September, according to a report released by the Commerce Department on Thursday. Orders for durable goods climbed by 0.5 percent compared to the previously reported 0.6 percent increase, while orders for non-durable goods came in unchanged. The report said shipments of manufactured goods were virtually unchanged in October after falling by 0.4 percent in September. Inventories crept up by 0.1 percent after rising by 0.3 percent in the previous month. Powered by Commodity Insights |
The Eurozone economy grew as initially estimated in the third quarter, revised data from Eurostat showed Thursday. Gross domestic product grew 0.2% from the second quarter, when the economy expanded at the same rate. The figure matched the estimate published on November 14. On a yearly basis, GDP growth came in at 1.2%, in line with the previous estimate and the second quarter growth. Eurozone retail sales declined for the second straight month in October, data from Eurostat showed Thursday. Retail sales decreased 0.6% month-on-month in October, bigger than the 0.2% fall in September and the expected drop of 0.5%.
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UK car sales decreased 1.3 percent on a yearly basis to 156,621 units in November, as weak business and consumer confidence along with economic uncertainty weighed on demand, data published by the Society of Motor Manufacturers and Traders, or SMMT, showed Thursday. The decline was driven primarily by a 6.1 percent fall in private registrations and a 3.2 percent drop in the business market. Meanwhile, fleet registrations fared better, rising 2.8 percent. For the second consecutive month, total alternatively fueled vehicle registrations reached a record market share. Year-to-date, the overall UK new car market was down 2.7 percent, with 2.2 million cars registered. Powered by Commodity Insights |
Germany's factory orders fell a seasonally and calendar adjusted 0.4 percent month-on-month in October following a 1.5 percent increase in September, which was revised from the initially reported 1.3 percent gain, preliminary figures from the Federal Statistical Office showed on Thursday. Domestic orders dropped 3.2 percent, while foreign demand grew 1.5 percent. Orders from the euro area surged 11.1 percent, while those from other countries fell 4.1 percent. On a year-on-year basis, factory orders dropped 5.5 percent in October after a 5 percent slump in the previous month. Powered by Commodity Insights |
The Reserve Bank Of India (RBI) noted in its latest monetary policy statement that the global economic activity has remained subdued, though some signs of resilience are becoming visible. Among the advanced economies (AEs), GDP growth in the US picked up in Q3 on strong private investment and personal consumption expenditure. More recent data, however, indicate that factory activity contracted for the fourth consecutive month in November, while retail sales and industrial production declined in October. In the Euro area, GDP growth remained stable in Q3 relative to the previous quarter on improved household consumption and government spending, although manufacturing activity continued to struggle with lingering geo-political uncertainties. With weak global demand pulling down exports, the Japanese economy lost momentum in Q3. Economic activity in the UK accelerated in Q3, primarily driven by the services sector and construction activity. Among emerging market economies (EMEs), GDP growth in China decelerated further in Q3, reflecting weak industrial production and declining exports amidst trade tension Powered by Commodity Insights |
The Reserve Bank of India monetary policy committee maintained the repo rate at 5.15 per cent points (bps) in its fifth bi-monthly monetary policy meeting of the financial year 2019-20 (FY20) on Thursday. Consequently, the reverse repo rate stands unchanged 4.90 per cent. The RBI has cut repo rate by 135 basis points so far in 2019, to a nine-year low of 5.15%. The status quo was voted unanimously by all the MPC members. Further, GDP growth forecast for FY20 was slashed to 5 per cent from 6.1 per cent. GDP growth has fallen to 4.5% in the July to September period, the weakest pace in more than 6 years. RBI also revised its inflation forecast from 3.5-3.7% to 5.1-4.7% for the second half of fiscal year 2019-20. This comes after consumer price inflation quickened to 4.62% in October, breaching the 4% target for the first time since July 2018. The MPC noted that inflation is expected to moderate below target by the second quarter of fiscal year 2020-21 and it would wait for data for more clarity on inflation outlook. Powered by Commodity Insights |
The Reserve Bank of New Zealand today released its final decisions following its comprehensive review of its capital framework for banks, known as the Capital Review. Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. The changes will be implemented over seven years, giving plenty of time for banks to manage a smooth transition and minimise any adjustment costs. “Our decisions are not just about dollars and cents. More capital in the banking system better enables banks to weather economic volatility and maintain good, long-term, customer outcomes,” Mr Orr says. “More capital also reduces the likelihood of a bank failure. Banking crises cause not only harmful economic costs but also distressful social issues, such as the general decline in mental and physical health brought about by higher rates of unemployment. These effects are felt for generations,” Mr Orr says. The key decisions, which start to take effect from 1 July 2020, include banks' total capital increasing from a minimum of 10.5% now, to 18% for the four large banks and 16% for the remaining smaller banks. The average level of capital currently held by banks is 14.1%. Powered by Commodity Insights |
Australia's trade surplus decreased to A$4.5 billion in October from A$6.84 billion in September, according to the Australian Bureau of Statistics. Exports of goods and services decreased A$2.2 billion to A$40.75 billion. Meanwhile, imports rose slightly by A$140 million to A$36.25 billion. Retail sales remained unchanged on month in October, following a 0.2 percent rise in September and a 0.4 percent increase in August, another report showed. Clothing, footwear and personal accessory retailing and department stores sales dropped 0.8 percent each and household goods sales were down 0.2 percent. These falls were offset by a 0.4 percent rise in cafes, restaurants and takeaway food services and a 0.1 percent rise in food retailing. Powered by Commodity Insights |
India's services Purchasing Managers' Index, or PMI, rose to 52.7 in November from 49.2 in October, amid a rise in new business intakes and job creation, survey results from IHS Markit showed on Wednesday. Any reading above 50 indicates expansion in the sector. Three out of five categories of the service sector achieved moderate expansion in November. Incoming new work increased to the greatest extent in four months in November and new business from abroad rose for the ninth month in a row. The level of work-in-hand grew for the second straight month. Employment increased with the pace of job expansion accelerated to the highest in three months, which was in line with the long-run series average. Powered by Commodity Insights |
US private sector employment increased by 67,000 jobs in November after climbing by a revised 121,000 jobs in October, according to a report released by payroll processor ADP on Wednesday. The weaker than expected job growth came as a continued increase in employment in the service-providing sector was partly offset by a loss of jobs in the good-producing sector. Powered by Commodity Insights |
US non-manufacturing index dipped to 53.9 in November after climbing to 54.7 in October, a report released by the Institute for Supply Management on Wednesday showed. A reading above 50 indicates service sector growth. The bigger than expected decrease by the headline index was partly due to a steep drop by the business activity index, which tumbled to 51.6 in November from 57.0 in October. Meanwhile, the new orders index rose to 57.1 in November from 55.6 in October and the employment index climbed to 55.5 from 53.7. Powered by Commodity Insights |
| The euro area private sector growth remained the lowest in six-and-a-half years in November, signaling modest expansion for the fourth quarter, final survey data from IHS Markit showed Wednesday. The composite output index held steady at 50.6 in November. The reading was slightly above the flash estimate of 50.3. Powered by Commodity Insights |
| The services sector in Japan moved back into expansion in November as the latest survey from Jibun Bank showed on Wednesday with a PMI score of 50.3. That was up from 49.8 and the measure moved back above the boom-or-bust line of 50 that separates expansion from contraction. Individually, activity rebound in November, although growth was marginal amid soft new order expansion. Input price inflation accelerated but charges rose at a slower rate. The composite index also moved up to 49.8 in November from 49.1 in October. Powered by Commodity Insights |
| Australia's gross domestic product gained a seasonally adjusted 0.4% on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Wednesday. This marked a further drop from 0.6% reading in the previous quarter.On a yearly basis, gross domestic product climbed 1.7%, up from 1.4% in the three months prior. Powered by Commodity Insights |
| China's private sector grew at the steepest pace in 21 months in November driven by the upturn in manufacturing and services, survey results from IHS Markit showed Wednesday. The Caixin composite output index rose to 53.2 in November from 52.0 in October. A reading above 50 indicates expansion. The services Purchasing Managers' Index advanced to a seven-month high of 53.5 from 51.1 in October. Powered by Commodity Insights |
| The UK construction sector continued to contract in November, albeit at a slower pace, as new work weakened amid domestic political uncertainty, but the overall pace of decline slowed from October, survey data showed Tuesday. The construction Purchasing Managers' Index edged up to 45.3 in November from 44.2 in October. Powered by Commodity Insights |
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