Robust domestic demand drives solid UK economic growth in third quarter

The latest official data showed that the UK economy continued to grow at a reasonably strong pace in the autumn, with increasingly robust domestic demand from businesses and consumers offsetting weak trade as key export markets remained in the doldrums and the strong pound hit competitiveness.

November flash PMIs signal upturn in US growth and solid hiring

The US economy is showing further robust economic growth in the fourth quarter, with the pace of expansion picking up in November.

Japan flash manufacturing PMI hits 20-month high in November

Japanese goods producers are on course for their best quarter since the start of 2014. The Nikkei Manufacturing PMI hit a 20-month high of 52.8 in November, according to the preliminary ‘flash’ reading. The PMI readings for the fourth quarter so far are the highest since the first quarter of 2014, suggesting the sector is making a positive contribution to economic growth.

Eurozone growth picks up but price fall adds to odds of further ECB stimulus

Eurozone businesses reported the fastest rates of growth in business activity and employment for four-and-a-half years in November, but the improvement appears insufficient to deter policymakers from taking further steps to boost the economy next month.

UK retail sales suffer payback after September surge

UK retail sales fell slightly more than expected in October, but the decline looks to be a one-off and masks a reassuringly solid underlying trend which will likely add to the argument that the economy should be capable of withstanding an initial tightening of policy in the not-too-distant future.

Official data confirm US manufacturing rebound at start of fourth quarter

US industrial production fell 0.2% for a second successive month in October, but the decline clouds a more upbeat picture of the health of the country’s factories.

US inflation shows signs of edging higher

US headline inflation edged higher to 0.2% in October after the flat year-on-year reading seen in September, according to official data.

UK sees sustained deflation for first time

The UK’s Consumer Price Index (CPI) remained in negative territory in October, helping shore up the Bank of England’s belief that there’s no rush to start raising interest rates

Recession in Japan signalled despite fastest nominal GDP growth for five years

Headline data showing Japan to have fallen back into recession in the third quarter give a misleading view of the health of the economy.

Eurozone economy grows 0.3% in the third quarter

The euro area’s pace of economic growth lost a little momentum in the third quarter, despite the additional central bank stimulus seen so far this year and a weakened, competitive, currency.

German economy grows at moderate pace in third quarter

The German economy continued to grow at a moderate pace in the third quarter, according to data from Statistisches Bundesamt Destatis. Markit’s PMI data signalled further modest growth at the start of the fourth quarter, but results from the latest Business Outlook Survey highlight growing uncertainty among businesses about prospects for the year ahead.

Eurozone industrial output up 1.7% on a year ago despite September drop

Industrial production in the euro area fell 0.3% in September, according to official data, piling additional pressure on policymakers to inject more stimulus to tackle the region’s economic malaise.

UK pay growth dips despite tightest job market since 2008

The UK labour market continued to tighten in September as unemployment fell more than expected and employment rose sharply. Pay growth remained surprisingly weak, however, despite further evidence of growing skill shortages, which normally leads to higher salaries.

Fed rate hike draws closer as global growth ticks higher

The JPMorgan Global PMI™, compiled by Markit, regained some poise after slipping to a nine-month low in September, rising to 53.4. However, the survey merely signals a rate of worldwide GDP growth of just around 2% per annum. Services continued to drive the upturn, as has been the case throughout the past year-and-a-half, though an upturn in the goods producing sector meant the divergence narrowed.

Global growth edges higher at start of fourth quarter

Global economic growth ticked higher in October, with robust expansions in the US, UK, eurozone and Japan accompanied by an improved performance in China. However, whereas the recent data flow has resulted in the US Fed talking up the chance of rates rising by the year-end and Japan keeping policy on hold, a gloomy Bank of England downplayed the scope for a UK rate hike and the ECB raised the prospect of more stimulus.

PMI surveys show UK economy picking up speed again at start of fourth quarter

The rate of economic growth rebounded in October, rising from the near two-and-a-half year low seen at the end of the third quarter, according to PMI survey data.

Signs of global manufacturing slowdown bottoming out as PMI hits seven-month high

Global manufacturing started the fourth quarter showing tentative signs of renewed life.

China manufacturing PMI sees largest rise for 16 months as exports stabilise

China’s manufacturing economy started the fourth quarter on a firmer footing, with the sector still in decline but the rate of contraction easing amid a stabilising of export sales.