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Guardian Stockbrokers Key Economic News Thursday 8 December 2016

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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UK house price balance rose in November

In November, house price balance in the UK climbed to 30.00 %, compared to market expectations of an advance to a level of 26.00 %. House price balance had recorded a reading of 23.00 % in the prior month.

UK manufacturing production unexpectedly eased in October

On an annual basis in the UK, manufacturing production recorded an unexpected drop of 0.40% in October, lower than market expectations for an advance of 0.70%. Manufacturing production had climbed by a revised 0.10% in the previous month.

UK manufacturing production unexpectedly eased in October

On a monthly basis, manufacturing production registered an unexpected drop of 0.90% in the UK, in October, lower than market expectations for an advance of 0.20%. Manufacturing production had recorded a rise of 0.60% in the previous month.

UK NIESR estimated GDP advanced as expected in the September-November 2016 period

On a monthly basis in the September-November 2016 period, NIESR estimated gross domestic product (GDP) advanced 0.40% in the UK, compared to a similar rise in the August-October 2016 period. Market expectation was for NIESR estimated GDP to climb 0.40%.

UK industrial production surprisingly eased in October

In October, on an annual basis, industrial production in the UK registered an unexpected drop of 1.10%, compared to a revised rise of 0.40% in the previous month. Market expectation was for industrial production to advance 0.50%.

UK Halifax house price index rose as expected in November

In November, the Halifax house price index recorded a rise of 0.20% on a MoM basis in the UK, in line with market expectations. The Halifax house price index had climbed 1.40% in the prior month.

UK Halifax house price index rose more than expected in the September-November 2016 period

The Halifax house price index rose 6.00% on an annual basis in the September-November 2016 period, in the UK, higher than market expectations for an advance of 5.90%. The Halifax house price index had risen 5.20% in the August-October 2016 period.

UK industrial production registered an unexpected drop in October

In October, on a MoM basis, industrial production unexpectedly eased 1.30% in the UK, lower than market expectations for an advance of 0.20%. Industrial production had dropped 0.40% in the prior month.

German industrial production advanced less than expected in October

In October, on a YoY basis, the non-seasonally & working day adjusted industrial production advanced 1.20% in Germany, compared to a revised rise of 1.30% in the previous month. Market expectation was for industrial production to advance 1.60%.

German industrial production rose less than expected in October

The seasonally adjusted industrial production in Germany recorded a rise of 0.30% on a monthly basis in October, less than market expectations for a rise of 0.80%. In the prior month, industrial production had dropped by a revised 1.60%.

French current account deficit dropped in October

Current account deficit in France dropped to €3.50 billion in October. France had registered a revised current account deficit of €3.70 billion in the previous month.

French trade deficit expanded in October

Trade deficit in France rose to €5.20 billion in October, compared to a revised trade deficit of €4.79 billion in the prior month. Markets were anticipating the nation to register a trade deficit of €4.35 billion.

Spanish housing price index recorded a rise in 3Q 2016

The housing price index in Spain climbed 0.80% in 3Q 2016 on a QoQ basis. The housing price index had advanced 1.80% in the prior quarter.

Swiss foreign currency reserves climbed in November

Foreign currency reserves registered a rise to CHF 648.00 billion in November, in Switzerland. In the previous month, foreign currency reserves had registered a reading of CHF 630.30 billion.

US mortgage applications eased in the last week

In the US, mortgage applications fell 0.70% in the week ended 02 December 2016 on a weekly basis. In the prior week, mortgage applications had recorded a drop of 9.40%.

US JOLTs job openings fell in October

In October, JOLTs job openings in the US recorded a drop to 5534.00 K, compared to a revised level of 5631.00 K in the previous month. Market expectation was for JOLTs job openings to drop to 5500.00 K.

US consumer credit advanced less than expected in October

In October, consumer credit in the US climbed $16.02 billion, compared to a revised advance of $21.80 billion in the prior month. Market expectation was for consumer credit to rise $18.65 billion.

BoC holds kept key interest rate at 0.50%  

The Bank of Canada (BoC) held benchmark interest rate steady at 0.50%, stating that the Canadian economy is growing as expected, despite lingering uncertainty in the US and its other major trading partners. The central bank further added that although the nation’s growth rebounded strongly during the third quarter, the economy is expected to shift to moderate growth in the fourth quarter, as business investment and non-energy goods exports continue to disappoint.

Japanese investors turned net sellers of foreign stocks in the previous week

Japanese investors turned net sellers of ¥72.10 billion worth of foreign stocks in the week ended 02 December 2016, as compared to being net buyers of ¥117.80 billion worth of foreign stocks in the prior week.

Japanese bank lending ex-trust advanced less than expected in November

In Japan, bank lending ex-trust climbed 2.40% in November on a YoY basis, compared to a similar rise in the prior month. Markets were anticipating bank lending ex-trust to advance 2.50%.

Japanese average office vacancies in Tokyo advanced in November

In November, on a monthly basis, average office vacancies in Tokyo in Japan climbed 3.75%. In the previous month, average office vacancies in Tokyo had climbed 3.64%.

Foreign investors became net buyers of Japanese bonds in the previous week

Foreign investors were net buyers of ¥658.20 billion worth of Japanese bonds in the week ended 02 December 2016, from being net buyers of a revised ¥12.20 billion worth of Japanese bonds in the previous week.

Japanese investors turned net sellers of foreign bonds in the previous week

Japanese investors turned net sellers of ¥887.60 billion worth of foreign bonds in the week ended 02 December 2016, as compared to being net buyers of a revised ¥112.20 billion worth of foreign bonds in the prior week.

Japanese leading economic index rose in October

The preliminary leading economic index registered a rise to 101.00 in October, in Japan, lower than market expectations of an advance to a level of 101.40. In the previous month, the leading economic index had recorded a reading of 100.30.

Japanese GDP advanced less than expected in 3Q 2016

In 3Q 2016, the final GDP in Japan climbed 0.30% on a quarterly basis, lower than market expectations for a rise of 0.50%. The preliminary figures had recorded a rise of 0.50%. GDP had registered a rise of 0.20% in the previous quarter.

Japanese nominal GDP advanced less than expected in 3Q 2016

The final nominal GDP recorded a rise of 0.10% on a quarterly basis in 3Q 2016, in Japan, compared to a revised similar rise in the prior quarter. Market expectation was for nominal GDP to rise 0.20%. The preliminary figures had indicated an advance of 0.20%.

Japanese adjusted (total) current account surplus widened in October

Adjusted (total) current account surplus in Japan rose to ¥1928.90 billion in October. Japan had posted an adjusted (total) current account surplus of ¥1477.30 billion in the prior month.

Foreign investors became net buyers of Japanese stocks in the previous week

Foreign investors were net buyers of ¥400.10 billion worth of Japanese stocks in the week ended 02 December 2016, from being net buyers of ¥330.50 billion worth of Japanese stocks in the previous week.

Japanese annualised GDP rose less than expected in 3Q 2016

In Japan, the final annualised GDP advanced 1.30% on a QoQ basis in 3Q 2016, less than market expectations for an advance of 2.30%. In the previous quarter, annualised GDP had advanced 0.70%. The preliminary figures had indicated an advance of 2.20%.

Japanese current account surplus dropped in October

Japan has posted the non-seasonally adjusted current account surplus of ¥1719.90 billion in October, from a current account surplus of ¥1821.00 billion in the prior month. Markets were expecting a current account surplus of ¥1545.00 billion.

Japanese coincident index advanced in October

Compared to a level of 112.70 in the previous month the flash coincident index in Japan climbed to 113.90 in October. Market anticipation was for the coincident index to climb to a level of 114.10.

Japanese (BOP basis) trade surplus fell in October

(BOP basis) trade surplus in Japan dropped to ¥587.60 billion in October, compared to market expectations of a (BOP basis) trade surplus of ¥603.00 billion. Japan had reported a (BOP basis) trade surplus of ¥642.40 billion in the prior month.

Japanese bank lending including trusts climbed in November

Bank lending including trusts climbed 2.40% on an annual basis in Japan, in November. Bank lending including trusts had registered a similar rise in the prior month.

Japanese GDP deflator fell more than expected in 3Q 2016

In 3Q 2016, the final GDP deflator eased 0.20% on an annual basis in Japan, compared to a rise of 0.70% in the prior quarter. The preliminary figures had recorded a fall of 0.10%. Markets were anticipating the GDP deflator to fall 0.10%.

Japanese corporate bankruptcies dropped in November

In Japan, corporate bankruptcies fell 2.53% in November on a YoY basis. In the previous month, corporate bankruptcies had fallen 7.95%.

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