Guardian Stockbrokers Key Economic News Thursday 14 January 2021

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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 dropped in December

In the UK, house price balance recorded a drop to 65.00% in December, compared to a reading of 66.00% in the prior month.

Euro-zone industrial production climbed more than expected in November

In the Euro-zone, seasonally adjusted industrial production recorded a rise of 2.50% on a MoM basis in November, compared to a revised rise of 2.30% in the previous month. Markets were expecting the industrial production to rise 0.20%.

Fed’s Beige Book: US economy grew modestly

According to the US Federal Reserve’s (Fed) latest Beige Book report, the US economy grew “modestly” in the final weeks of 2020. The report indicated that the US labour market lost 140,000 jobs in December, due to rising coronavirus cases in the country. Further, the Beige Book noted that although the prospect of Covid-19 vaccines has boosted business optimism for 2021, the recent virus resurgence and its impact on near-term business conditions has been a major concern.

US CPI advances more than expected in December

In the US, the consumer price index (CPI) climbed 1.40% on a YoY basis in December, compared to an advance of 1.20% in the previous month. Markets were expecting the CPI to record an advance of 1.30%.

US budget deficit narrowed in December

In the US, budget deficit narrowed to $143.60 billion in December, compared to a deficit of $145.30 billion in the previous month.

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