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Japan Producer Prices Rise 1.2% On Year In September





Producer prices in Japan were up 1.2 percent on year in September, the Bank of Japan said on Thursday - matching expectations and down from 1.3 percent in August.


On a monthly basis, producer prices added 0.1 percent following the flat reading in the previous month.


For the third quarter of 2018, producer prices gained 1.2 percent on year and 0.2 percent on quarter. That follows the 1.0 percent yearly increase and the 0.6 percent quarterly gain in the three months prior.


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South Korea's Consumer Confidence Weakens In October





South Korea's consumer sentiment weakened in October, survey data from Bank of Korea showed Friday.


The consumer confidence index fell to 99.5 from 100.2 in the previous month. A score below 100 means pessimists outnumber optimists.


Consumer sentiment regarding current living standards gained one point to 91, while that concerning their future outlook dropped two points to 91.


Similarly, consumer sentiment related to household income declined 2 points to 99, and that concerning their future spending held steady at 111.


Consumer sentiment as to current domestic economic conditions rose three points to 67, while that concerning future domestic economic conditions was unchanged at 77.


The expected inflation rate for the coming year was 2.5 percent.


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European Economics Preview: UK Mortgage Approvals Data Due




Mortgage approvals data from the UK is due on Monday, headlining a light day for the European economic news.


At 2.00 am ET, Statistics Finland publishes consumer confidence survey results for October.


At 4.00 am ET, Austria's factory PMI data is due for October. The score was 55.0 in September.

At 4.30 am ET, Bank of England is slated to issue mortgage approvals figures for September. Economists forecast mortgage approvals to fall to 64,700 in September from 66,400 in August.


At 6.00 am ET, Italy's Istat releases producer prices for September. Prices had advanced 5.1 percent on year in August.


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Japan's Jobless Rate Declines In September





Japan's unemployment rate declined in September, the Ministry of Internal Affairs and Communications reported Tuesday.


The jobless rate fell to 2.3 percent from 2.4 percent in August. This was the lowest rate since early 1990s. The rate was expected to remain unchanged at 2.4 percent.


The jobs-to-applicant ratio rose slightly to 1.64 from 1.63 a month ago.


The unemployment rate is the lowest it has been in a generation and it will fall further over the coming year, Marcel Thieliant, an economist at Capital Economics, said.


The upshot is that wage growth probably won't reach the 2.5 percent annual rate required to meet the BoJ's 2 percent inflation target, the economist added.


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China Manufacturing PMI Slips To 50.2 In October





The manufacturing sector in China continued to expand in October, albeit at a slower pace, the latest survey from the National Bureau of Statistics said on Wednesday with a manufacturing PMI score of 50.2.


That missed expectations for 50.6 and was down from 50.8 in September - although it remains above the boom-or-bust line of 50 that separates expansion from contraction.


The bureau also said its non-manufacturing index came in with a score of 53.9 - missing forecasts for 54.6 and down from 54.9 in the previous month.


The composite index had a score of 53.1, down from 54.1 a month earlier.


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Japan Services Sector Accelerates In October - Nikkei





The services sector in Japan continued to expand in October, and at a faster rate, the latest survey from Nikkei revealed on Monday with a PMI score of 52.4.


That's up from 50.2 in September, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.


The October reading also touched a six-month index high.


Individually, there was a stronger upturn in business activity, while new business growth quickened to a five-year high.


Selling charge inflation eased despite a strong rise in costs.


The survey also said its composite index climbed to 52.5 from 50.7 a month earlier.


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RBA Keeps Interest Rate Unchanged At Historic Low





The Reserve Bank of Australia on Tuesday decided to put its benchmark interest rate on hold at a record low for the 26th consecutive meeting.


The board of the Reserve Bank of Australia, governed by Philip Lowe, voted to maintain the cash rate at 1.50 percent. The interest rate has been at the current level since August 2016.


"Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time," the bank said in a statement.


Policymakers observed that the low level of interest rates is continuing to support the Australian economy.


Although policymakers expect further progress in the reduction of unemployment and inflation returning to target, this progress is likely to be gradual, the bank noted.


The Australian economy was performing well with the GDP growing by 3.4 percent and the unemployment rate declining to five percent over the past year, it said.


The bank revised up its economic growth forecasts for 2018 and 2019. Economic growth is expected to be around 3.5 percent over these two years, before slowing in 2020 due to slower growth in exports of resources.


The upward revision to the RBA's growth and inflation forecasts suggest that the Bank is moving closer to tightening policy, Marcel Thieliant, an economist at Capital Economics, said.


The central bank may be seeking clearer evidence that the tighter labour market is generating stronger wage growth before hiking interest rates.


The economist suggested the full impact of tighter lending standards on house prices and consumption have yet to be felt.


Thieliant believed that the downturn in the housing market would lead to a renewed slowdown in activity next year and hence the first rate hike is likely to come by the end of 2020.


Regarding property market, the bank said conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low.


The outlook for household consumption continued to be a source of uncertainty for the economy, the bank cautioned. Growth in household income remains low, debt levels are high and some asset prices have declined.


Growth in credit extended to owner-occupiers remained robust, but demand by investors has slowed noticeably amid changing dynamics of the housing market, it added.


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European Economics Preview: German Factory Production, Eurozone Retail Sales Due





Wednesday is a relatively busy day in Europe with the release of German factory production data and Eurozone retail sales figures scheduled.


Germany's Destatis is set to release the industrial production figures for September at 2 am ET. Production is expected to fall 0.1 percent monthly after a 0.3 percent slump in August. On a year-on-year basis, output is forecast to grow 0.2 percent following a 0.1 percent drop in the previous month.


Figures released on Tuesday showed that factory orders unexpectedly rose for a second straight month in September, led by domestic demand, suggesting improvement in the economic momentum ahead.


At 5 am ET, Eurostat is set to publish the euro area retail sales data for September. Sales are expected to edge up 0.1 percent from the previous month, when they fell 0.2 percent. Compared to a year ago, retail sales are expected to grow 0.8 percent after a 1.8 percent gain in the previous month.


A look at other news scheduled for the day.


Inflation data for October is due from Estonia at 1 am ET. Headline CPI inflation accelerated for a second straight month to 3.7 percent in September and prices were unchanged from the previous month.


At 2 am ET, Statistics Norway is set to publish the industrial production data for September. In August, industrial production grew 1.8 percent from the previous month and 2.3 percent from a year ago.


Manufacturing output is forecast to grow 0.4 percent from the previous month after a 0.1 percent drop in August. Factory output grew 5.1 percent year-on-year in August.


France's Customs Office is expected to release the trade data for September at 2.45 am ET. The trade deficit was EUR 5.6 billion in August.


Swiss foreign currency reserves data for October is due at 3 am ET.


Elsewhere, the Hungarian Central Statistical Office is set to release the first estimate for September retail sales. Sales grew 6.8 percent year-on-year in August.


Half an hour later, IHS Markit is scheduled to release the latest Halifax house price index for October. Economists have forecast a monthly increase of 0.8 percent and an annual gain of 1.3 percent in the UK house prices. In September, house prices were 1.4 percent lower than in the pervious month and 2.5 percent higher from a year ago.


IHS Markit is also set to release the German Construction PMI for October at 3.30 am ET. In September, the reading was 50.2. A score above 50 suggests growth.


Further, Sweden's National Debt Office is set to release the budget balance for October at 3.30 am ET.


At 3.55 am ET, Iceland's central bank is scheduled to announce its latest policy decision. The interest rate is currently at 4.25 percent.


Italy's statistical office ISTAT is set to release retail sales data for September. Sales are expected to grow 2.1 percent year-on-year and 0.7 percent from the previous month. In August, retail sales grew 2.1 percent from a year ago and fell 0.2 percent from July.


In other news, the National Bank of Poland is scheduled to announce its latest policy decision on Wednesday. The central bank is widely expected leave the key interest rate unchanged at 1.50 percent.


Also due on Wednesday are Finland's trade data and Denmark's industrial production data for September at 2 am ET, Slovakia's retail sales, trade and industrial production data for September and Austria's wholesale prices for October at 3 am ET, Luxembourg's CPI figures for October at 5 am ET, and Portugal's Q3 unemployment rate and Ireland's September industrial production data at 6 am ET.


Late Wednesday, the UK RICS house price balance for October is due at 07.01 pm ET.


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China's Exports, Imports Rise More Than Forecast




China's exports and imports increased more-than-expected in October, official data showed Thursday.


Exports grew 15.6 percent annually, the General Administration of Customs reported. Economists had forecast an increase of 11.7 percent.


At the same time, imports surged 21.4 percent compared to the forecast of 14.7 percent.


As a result, the trade surplus came in at $34 billion in October versus the expected level of $35.1 billion.


In yuan terms, imports advanced 26.3 percent and exports climbed 20.1 percent from last year. The trade surplus totaled CNY 233.6 billion.


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China CPI Steady At 2.5% On Year In October





Consumer prices in China were up 2.5 percent on year in October, the National Bureau of Statistics said on Friday.


That was in line with expectations and unchanged from the September reading.


The bureau also said that producer prices climbed an annual 3.3 percent - matching forecasts and slowing from 3.6 percent in the previous month.


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