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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
BoE Governor Mark Carney struck a different tone on Brexit
The Bank of England (BoE) Governor, Mark Carney, in his testimony to the Parliament’s Treasury Select Committee stated that Brexit is no longer the biggest risk to UK’s financial stability, reversing his previous warnings about the threat Brexit posed to the British economy. He further added that current strength of the British economy implies that the central bank might soon have to upgrade its forecasts. The Governor also warned that a hard Brexit would pose greater threat to the financial stability of the European Union than to the UK, given the strength of Britain’s financial services sector.
UK manufacturing production rose more than expected in November
Manufacturing production in the UK advanced 1.20% on an annual basis in November, compared to a revised drop of 0.50% in the previous month. Market anticipation was for manufacturing production to rise 0.40%.
UK industrial production rose more than expected in November
In November, on a monthly basis, industrial production in the UK registered a rise of 2.10%, compared to a revised drop of 1.10% in the previous month. Markets were expecting industrial production to climb 1.00%.
UK industrial production advanced more than expected in November
Industrial production registered a rise of 2.00% in the UK on an annual basis in November, more than market expectations for a rise of 0.70%. Industrial production had registered a revised drop of 0.90% in the prior month.
UK manufacturing production advanced more than expected in November
In November, on a monthly basis, manufacturing production in the UK recorded a rise of 1.30%, more than market expectations for an advance of 0.50%. Manufacturing production had registered a revised drop of 1.00% in the previous month.
UK total trade deficit rose in November
Total trade deficit in the UK widened to £4.17 billion in November, compared to a revised total trade deficit of £1.55 billion in the prior month. Market anticipation was for the nation’s total trade deficit to widen to £3.50 billion.
UK NIESR estimated GDP advanced as expected in the October-December 2016 period
In the October-December 2016 period, NIESR estimated gross domestic product (GDP) rose 0.50% in the UK on a monthly basis, at par with market expectations. NIESR estimated GDP had registered a revised similar rise in the September-November 2016 period.
UK trade deficit rose in November
In November, non-EU trade deficit in the UK expanded to £3.58 billion, from a revised trade deficit of £2.12 billion in the prior month. Market anticipation was for the nation’s trade deficit to widen to £3.00 billion.
UK construction output rose less than expected in November
On an annual basis, construction output in the UK recorded a rise of 1.50% in November, less than market expectations for an advance of 2.00%. Construction output had recorded a rise of 0.70% in the prior month.
UK visible trade deficit rose in November
Visible trade deficit in the UK rose to £12.16 billion in November, from a revised visible trade deficit of £9.88 billion in the previous month. Markets were expecting the nation’s visible trade deficit to rise to £11.15 billion.
Spanish calendar adjusted industrial output advanced more than expected in November
In November, on a YoY basis, the calendar adjusted industrial output in Spain registered a rise of 3.20%, more than market expectations for a rise of 1.00%. The calendar adjusted industrial output had climbed by a revised 0.60% in the previous month.
US mortgage applications rose in the last week
In the US, mortgage applications rose 5.80% on a weekly basis, in the week ended 06 January 2017. Mortgage applications had registered a rise of 0.10% in the previous week.
US economic optimism index climbed in January
In January, the economic optimism index in the US recorded a rise to 55.60. In the previous month, the economic optimism index had recorded a reading of 54.80.
Japanese current account surplus registered a drop in November
Japan has registered the non-seasonally adjusted current account surplus of ¥1415.50 billion in November, compared to a current account surplus of ¥1719.90 billion in the prior month. Market expectation was for the nation to post a current account surplus of ¥1460.00 billion.
Japanese bank lending ex-trust rose more than expected in December
In December, bank lending ex-trust in Japan registered a rise of 2.60% on a YoY basis, compared to an advance of 2.40% in the previous month. Markets were anticipating bank lending ex-trust to advance 2.50%.
Japanese bank lending including trusts advanced in December
In Japan, bank lending including trusts rose 2.60% on a YoY basis, in December. Bank lending including trusts had climbed 2.40% in the prior month.
Japanese adjusted (total) current account surplus dropped in November
Japan has reported adjusted (total) current account surplus of ¥1799.60 billion in November, compared to an adjusted (total) current account surplus of ¥1928.90 billion in the prior month. Markets were expecting the nation to post an adjusted (total) current account surplus of ¥1870.40 billion.
Japanese (BOP basis) trade surplus fell in November
(BOP basis) trade surplus in Japan narrowed to ¥313.40 billion in November, compared to a (BOP basis) trade surplus of ¥587.60 billion in the previous month. Markets were expecting the country’s (BOP basis) trade surplus to narrow to ¥254.40 billion.
Japanese average office vacancies in Tokyo climbed in December
In Japan, average office vacancies in Tokyo climbed 3.61% on a monthly basis, in December. In the previous month, average office vacancies in Tokyo had registered a rise of 3.75%.
Japanese coincident index advanced in November
The flash coincident index in Japan climbed to 115.10 in November, compared to market expectations of a rise to a level of 115.00. The coincident index had registered a reading of 113.50 in the prior month.
Japanese leading economic index rose in November
The preliminary leading economic index in Japan advanced to 102.70 in November, compared to market expectations of an advance to a level of 102.60. In the prior month, the leading economic index had registered a reading of 100.80.
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