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Global Economic Update

09:33, 01 février

Global Economic Update

  • In  the  Eurozone,  the  flash  core  consumer  price  index  rose 1.00% on a YoY basis in January, compared to a rise of 0.90% in  the  prior  month.  The  unemployment  rate  remained unchanged at a level of 8.70% in December.
  • In Germany, retail sales fell surprisingly 1.90% on a YoY basis in December, compared to an advance of 4.30% in November. The seasonally  adjusted  unemployment  rate  dropped  to  a  level  of 5.40% in January, compared to a level of 5.50% in December. The  number  of  people  unemployed  fell  25.00  K  in  January, compared to a drop of 30.00 K in the prior month.
  • The US Federal Reserve (Fed) kept its benchmark interest rates unchanged  in  a  range  of  1.25%  to  1.50%,  at  its  January monetary policy meeting. The central bank expects a pick-up in the  inflationary  pressures  this  year,  while  it  hinted  at  further gradual  interest  rate  hikes.  The  Chicago  Fed  purchasing managers index fell to a level of 65.70 in January, compared to a  revised  level  of  67.80  in  the  previous  month.  The  private sector employment rose by 234.00 K in January, compared to a rise  advance  of  242.00  K  in  the  prior  month.  Mortgage applications fell 2.60% on a weekly basis in the week ended 26 January 2018, compared to climb of 4.50% in the prior week.
  • In Japan, the consumer confidence index remained steady at a level  of  44.70  in  January.  Housing  starts  eased  surprisingly 2.10% on a YoY basis in December, compared to a fall of 0.40% in the previous month. The final manufacturing PMI increased to  54.80  in  January,  compared  to  a  reading  of  54.00  in December. Construction orders dropped 8.10% on a YoY basis in December, compared to rise 20.50% in the prior month. •  In China, the Markit manufacturing PMI index remained steady at a level of 51.50 in January.
  • In Australia, the AIG performance of manufacturing index rose to  58.70  in  January,  compared  to  a  level  of  56.20  in  the  last month.