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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK BRC shop price index advanced in November
In the UK, the BRC shop price index recorded a rise of 0.30% on a YoY basis in November, compared to a drop of 0.40% in the prior month.
Euro-zone CPI rose more than expected in November
In the Euro-zone, the flash consumer price index (CPI) climbed 4.90% on a YoY basis in November, compared to an advance of 4.10% in the previous month. Markets were expecting the CPI to record a rise of 4.50%.
German unemployment rate dropped as expected in November
In Germany, seasonally adjusted unemployment rate registered a drop to 5.30% in November, in line with market forecast and compared to a rate of 5.40% in the previous month.
Powell says central bank would discuss speeding up bond-buying taper at December meeting
Fed Chairman, Jerome Powell, in his latest speech before a Senate committee, stated that the central bank could step up the removal of its efforts to boost the economy, on the back of escalating inflation pressures. Further, he expressed that at this point, the economy is very strong and inflationary pressures are higher, and it is therefore appropriate to consider wrapping up the taper of the asset purchases. Powell signalled that this would be discussed at the upcoming central bank meeting.
US consumer confidence index fell in November
In the US, the consumer confidence index registered a drop to 109.50 in November, compared to a revised reading of 111.60 in the previous month.
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