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Global Economic Update

09:20, 31 janvier

Global Economic Update

  • The Bank of England (BoE) Governor, Mark Carney, stated that the  central  bank  can  now  focus  increasingly  on  combating inflation,  as  the  drag  from  the  Brexit  vote  on  the  broader economy and investment has started to recede. Meanwhile, the consumer  confidence  rose  surprisingly  to  a  level  of  -9.00  in January, compared to a level of -13.00 in the prior month. The number of mortgage approvals for house purchases dropped to a level of 61.00 K in December, compared to a revised reading of  64.70  K  in  the  previous  month.  The  BRC  shop  price  index eased 0.50% on a YoY basis in January, compared to a fall of 0.60% in the prior month.
  • In  the Eurozone,  the seasonally  adjusted  flash  gross  domestic product  (GDP)  surged  2.70%  on  a  YoY  basis  in  4Q  2017, compared to a rise of 2.60% in the previous quarter. The final consumer confidence index rose to 1.30 in January, compared to  a  level  of  0.50  in  December.  The  economic  sentiment indicator  fell  unexpectedly  to  a  level  of  114.70  in  January, compared to a revised level of 115.30 in the prior month. The services  sentiment  indicator  slipped  surprisingly  to  16.70  in January, compared to a level of 18.00 in the last month.
  • In  Germany,  the  flash  harmonised  consumer  price  index increased more-than-expected 1.40% on a YoY basis in January, compared to an advance of 1.60% in the previous month.
  • In  the  US,  the  CB  consumer  confidence  index  advanced surprisingly  to  125.40  in  January,  compared  to  a  revised reading of 123.10 in the prior month.
  • According to the summary of opinions report from the Bank of Japan’s  (BoJ)  January  monetary  policy  meeting,  several policymakers expressed that the central bank needs to consider hiking interest rates or scale-back purchases of risky assets, if Japan’s  economic  fundamentals  continue  to  recover.  The preliminary industrial production increased 4.20% on an annual basis in December, compared to a rise of 3.60% in November.