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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
IMF’s global growth forecasts for 2017 and 2018 remained unchanged
The International Monetary Fund (IMF) has released a quarterly update to its world economic outlook, with a cautious stance to the policies of US President-elect, Donald Trump. The IMF’s 2017 and 2018 global growth forecasts remain unchanged at 3.4% and 3.6%, respectively. The organization further added that potential widening of global imbalances coupled with sharp exchange rate movements could intensify protectionist pressures. Also, increased restrictions on global trade and migration would hurt productivity and income, and take an immediate toll on market sentiment.
BoE’s Carney: UK reliant on buoyant consumers
The Bank of England (BoE) Governor, Mark Carney, in his speech at the London School of Economics, indicated that British growth was relying more heavily on consumer spending – rather than investment or exports – which boded poorly for the future. He also warned that UK’s economic growth might take a hit in the coming years as the dropping Pound begins to weigh on wages and consumer spending. Further, the Governor stated that monetary policy can respond in either direction to ensure sustainable return of inflation to target.
Euro-zone trade surplus widened in November
The non-seasonally adjusted trade surplus in the Euro-zone expanded to €25.90 billion in November, following a trade surplus of €20.10 billion in the prior month. Markets were anticipating the region to record a trade surplus of €24.30 billion.
Euro-zone trade surplus widened in November
The seasonally adjusted trade surplus in the Euro-zone widened to €22.70 billion in November, compared to market expectations of a trade surplus of €20.80 billion. The Euro-zone had reported a revised trade surplus of €19.90 billion in the previous month.
Italian CPI recorded a rise in December
In Italy, the final consumer price index (CPI) registered a rise of 0.40% on a MoM basis, in December. In the prior month, the CPI had registered a drop of 0.10%. The preliminary figures had also recorded an advance of 0.40%.
Italian EU normalised CPI registered a rise in December
The final EU normalised CPI climbed 0.40% in Italy on a MoM basis, in December. The EU normalised CPI had fallen 0.20% in the previous month. The preliminary figures had also recorded a rise of 0.40%.
Canadian existing home sales climbed in December
Existing home sales recorded a rise of 2.20% on a MoM basis in Canada, in December. Existing home sales had fallen 5.30% in the previous month.
Japanese tertiary industry index advanced as expected in November
The tertiary industry index recorded a rise of 0.20% on a monthly basis in November, in Japan, compared to a revised flat reading in the prior month. Markets were anticipating the tertiary industry index to rise 0.20%.
Japanese machine tool orders rose in December
In Japan, the flash machine tool orders rose 4.40% on an annual basis, in December. In the prior month, machine tool orders had recorded a drop of 5.60%.
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