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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German Ifo business climate index fell more than expected in November
In Germany, the Ifo business climate index registered a drop to 96.50 in November, compared to a reading of 97.70 in the prior month. Markets were expecting the index to record a fall to a level of 96.60.
German Ifo business expectations index dropped more than anticipated in November
In Germany, the Ifo business expectations index dropped to 94.20 in November, compared to a reading of 95.40 in the previous month. Markets were anticipating the index to fall to 95.00.
US annualised GDP advanced less than expected in 3Q 2021
In the US, annualised GDP advanced 2.10% on a QoQ basis in 3Q 2021, compared to a rise of 6.70% in the prior quarter. Markets were expecting GDP to record an advance of 2.20%.
US number of initial jobless claims dropped in the week ended 19 November 2021
In the US, the seasonally adjusted number of initial jobless claims dropped to a level of 199.00 K in the week ended 19 November 2021, compared to a revised reading of 270.00 K in the prior week.
FOMC minutes: Fed officials ready to raise interest rates if inflation continues to remain at high levels
Minutes of the US Fed’s November monetary policy meeting revealed that the policymakers expressed concerns about inflation and indicated that they would be willing to raise interest rates if prices keep rising. Further, many participants noted that the Committee should be ready to adjust the pace of asset purchases and raise the target range for the federal funds rate sooner than anticipated if inflation continued to run at higher levels.
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