BOE Hints at a Possible Rate Hike Despite Leaving Policy Unchanged
(BOE) The Bank of England maintained its benchmark rate at 0.1%, but said it could tighten policy to tame inflation which is seen rising above 4%. Fig: UK Price Pressures…
UK Private Sector Loses Momentum as Output Index Plunges to a 7-Month Low
(IHS Markit) UK Composite Output Index was 54.1 in September, a seven-month low, and the softest rate of growth in March. The growth index marked a fourth-consecutive monthly decline and…
Eurozone Manufacturing and Service Sector Cools as Supply Constraints Persist
(IHS Markit) Eurozone’s PMI Composite Output Index hit a 5-month low, after falling to 56.1 in September, from 59.0 in August. Fig: Eurozone Composite PMI Services PMI reached a 4-month…
Fed Signals Bond Taper in November and Rate Hikes Next Year in Statement
(Fed) US Federal Reserve is ready to reverse the $120 billion in monthly asset purchases on its next scheduled meeting on November 2-3. The central bank targets to increase interest…
Existing-Home Sales Fall 2% in August as Prices Soar on Low Inventory
(NAR) US sales of existing homes reached an annual 5.88 million in August, a 2% drop from July. On a year-over-year basis, sales were down 1.5% from a year ago.…
US Current Account Deficit Widens by $0.9 Billion in the Second Quarter
(BEA) The deficit on trade in goods and services and income flows between US residents versus the rest of the world was $190.3 billion in Q2, an increase of $0.9…
US Housing Permits Climb 6.0% in August to Remain Elevated from Prior Year
(Census Bureau) US building permits for privately-owned housing units reached an annual rate of 1.728 million in August, up 6.0% from July. The permits are now 13.5% higher than the…
North American Semiconductor Billings Drop 5.4% in August
(SEMI) North American semiconductor equipment manufacturers recorded an average of $3.65 billion in worldwide billings in the three months to August 2021. The billings were 5.4% below the July’s final…
Builders’ Confidence Improves in September as Lumber Prices Fall
(NAHB) The builder’s sentiment for newly constructed single-family homes rose by one point to 76 in September, ending three consecutive months of decline. The uptick in builder’s sentiment reflected falling…
Yellen Wants Congress to Raise Debt Ceiling to Avert a Financial Crisis
(MarketWatch) US Treasury Secretary Janet Yellen has urged Congress to review the current debt ceiling to avert a possible financial crisis. Yellen maintains that the US had raised borrowing ceilings…
US Consumer Sentiment Edges Higher in September After a Steep Decline in August
(University of Michigan) US Consumer Sentiment Index in early September was 71.0, a marginal gain from 70.3 in the previous month. The sentiment was still down 11.7% year over year. …
Will Fed Taper Asset Purchases in November? Economists Make Predictions
(Bloomberg) Two-thirds of 52 economists in a survey predict that the Federal Reserve will announce a bond tapering on the November 2-3 meeting. The prediction is earlier than expected in…