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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK unemployment rate surprisingly advanced in the June-August 2019 period
In the UK, the unemployment rate registered an unexpected rise to a level of 3.90% in the June-August 2019 period, compared to market expectations of a steady reading. The unemployment rate had registered a level of 3.80% in the May-July 2019 period.
UK average earnings excluding bonus advanced more than expected in the June-August 2019 period
In the UK, the average earnings excluding bonus recorded a rise of 3.80% on a YoY basis in the June-August 2019 period, more than market expectations for a rise of 3.70%. The average earnings excluding bonus had recorded a revised rise of 3.90% in the May-July 2019 period.
Euro-zone economic sentiment index dropped in October
In the Euro-zone, the economic sentiment index eased to a level of -23.50 in October, compared to a reading of -22.40 in the prior month. Markets were anticipating the index to fall to a level of -33.00.
German economic sentiment index fell in October
In Germany, the economic sentiment index registered a drop to a level of -22.80 in October, compared to a level of -22.50 in the prior month. Market anticipation was for the index to fall to a level of -27.30.
IMF slashes global GDP forecast for 2019
The International Monetary Fund (IMF), in its latest World Economic Outlook, has lowered its outlook for the global gross domestic product (GDP) for 2019 to 3.0% from 3.2% in its previous forecast, mainly due to rising global trade conflicts. The IMF warned that the US-China trade war will cut the global economic growth to its slowest pace since the 2008 financial crisis.
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