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UK SHOP PRICES CONTINUE TO FALL IN SEPTEMBER:



UK shop prices continued to decrease in September on falling non-food prices, data from the British Retail Consortium, or BRC, revealed Wednesday.

The shop price index dropped 1.6 percent year-on-year, the same pace of decrease as seen in August. Non-food prices decreased 3.2 percent in September compared to a decline of 3.4 percent in August. At the same time, food inflation eased to 1.2 percent from 1.3 percent in August. Fresh food inflation held steady at 0.2 percent.

Retailers are cutting prices in order to encourage further spending where sales are yet to pick up, Helen Dickinson, chief executive at BRC, said. In addition, September saw the lowest rate of fresh food inflation since 2017, which has been mostly driven by the continued availability of fresh, local food produce.

Mike Watkins, Head of Retailer and Business Insight, Nielsen, said "Looking ahead we can expect shop price inflation to remain at current low levels for the next quarter."

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PHILIPPINES MANUFACTURING PMI MOVES TO 50.1 IN SEPTEMBER - IHS MARKIT



The manufacturing sector in the Philippines moved into expansion in September, the latest survey from IHS Markit showed on Thursday with a manufacturing PMI score of 50.1.

That's up from 47.3 in August, and it moves above the boom-or-bust line of 50 that separates from expansion.

Individually, new orders expanded for the first time since February, while production declined only marginally. Business sentiment improved to a seven-month high.

Production volumes fell for the third month running in September, with firms often indicating that ongoing COVID-19 restrictions continued to hamper activity.

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EUROPEAN ECONOMICS PREVIEW: EUROZONE CONSUMER PRICE DATA DUE



Flash consumer price data from euro area is due on Friday, headlining a light day for the European economic news. At 3.00 am ET, Spain's unemployment data for September is due from the Ministry of Labor, Migration and Social Security. The number of unemployed rose by 29,780, or 0.79 percent, in August.

At 4.00 am ET, Norway's unemployment data is due. The jobless rate is expected to fall to 4 percent in September from 4.3 percent in August.

At 5.00 am ET, Eurostat is slated to release euro area consumer prices for September. Economists forecast consumer prices to fall 0.2 percent annually, the same pace of fall as seen in August.

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EUROPEAN ECONOMICS PREVIEW: EUROZONE FINAL PMI, INVESTOR CONFIDENCE DATA DUE



Final Purchasing Managers' survey results, investor confidence and retail sales from euro area are due on Monday, headlining a busy day for the European economic news.

At 3.00 am ET, consumer and producer prices from Turkey and retail sales from Hungary are due. Turkish inflation is forecast to rise to 12.13 percent in September from 11.77 percent in August.

At 3.15 am ET, Spain's services PMI data is due. The index is expected to fall to 46.3 in September from 47.7 in August.

At 3.45 am ET, composite PMI figures from Italy are due. Economists forecast the services indicator to drop to 46.6 from 47.1 in August.

Thereafter, final PMI reports are due from France and Germany at 3.50 and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit releases euro area composite PMI survey data. The score is seen at 50.1 in September, unchanged from the flash estimate.

Half an hour later, UK IHS Markit/CIPS composite PMI data is due. The UK composite output index is forecast to fall to 55.7 in September, as initially estimated, from 59.1 in August.

In the meantime, Eurozone Sentix investor confidence survey results are due. Economists expect the index to fall to -9.5 in October from -8.0 in September. At 5.00 am ET, Eurostat is scheduled to issue euro area retail sales data for August. Sales are forecast to climb 2.4 percent on month, in contrast to a 1.3 percent drop in July.

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EUROPEAN ECONOMICS PREVIEW: GERMANY FACTORY ORDERS DATA DUE



Factory orders and construction Purchasing mangers' survey data from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's factory orders data for August. Economists forecast orders to grow 2.6 percent on month, following a 2.8 percent rise in July.

At 3.00 am ET, industrial output figures are due from Hungary. Output is expected to fall 3.3 percent on year in August, after easing 8.1 percent in July.

At 3.30 am ET, Statistics Sweden releases industrial production and new orders for August. In the meantime, Germany's IHS Markit construction PMI data is due.

At 4.30 am ET, IHS Markit is set to issue UK construction PMI data for September. The index is seen at 54.0 versus 54.6 in August.

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HONG KONG PRIVATE SECTOR PMI CLIMBS TO 47.7 IN SEPTEMBER - IHS MARKIT



The private sector in Hong Kong continued to contract in September, albeit at a slower pace, the latest survey from IHS Markit showed on Wednesday with a PMI score of 47.7.

That's up from 44.0, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output and new orders fell at slower rates, while the was job growth for the first time in three months. Business sentiment was at its least negative since June 2019.

Supply chains remained under pressure as limited freight capacity reportedly contributed to delivery delays.

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JAPAN HAS Y2,102.8 BILLION CURRENT ACCOUNT SURPLUS IN AUGUST



Japan posted a current account surplus of 2,102.8 billion yen in August, the Ministry of Finance said on Thursday - down 1.5 percent on year.

That exceeded expectations for a surplus of 1,983.7 billion yen following the 1,468.3 billion yen surplus in July.

Exports were down 15.5 percent on year at 5.124 trillion yen, while imports sank an annual 22.0 percent to 4.711 trillion yen.

The trade surplus was 413 billion yen, up from 137.3 billion yen in the previous month.

The capital account saw a deficit of 9.3 billion yen and the financial account had a surplus of 560.0 billion yen.

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EUROPEAN ECONOMICS PREVIEW: UK GDP DATA DUE



Monthly GDP estimate, industrial production and foreign trade figures are due from the UK on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK monthly GDP data. The economy is forecast to grow 4.6 percent on month in August, slower than the 6.6 percent increase in July. Industrial production and foreign trade figures are also due from the UK.

Industrial output is expected to climb 2.5 percent on month in August. The visible trade deficit is seen widening to GBP 9 billion from GBP 8.65 billion in July.

In the meantime, consumer prices from Norway and foreign trade from Denmark are due. At 2.45 am ET, the French statistical office Insee releases industrial production data for August. Economists forecast production to advance 1.7 percent on month, slower than the 3.8 percent increase posted in July.

At 3.00 am ET, foreign trade figures from Hungary and Austria are due.

At 4.00 am ET, Italy's Istat publishes industrial production for August. Economists forecast output to grow 1.3 percent on month, following a 7.4 percent rise in July. At 5.00 am ET, consumer prices and industrial production reports are due from Greece.

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JAPAN AUGUST CORE MACHINE ORDERS RISE 0.2%



The value of core machine orders in Japan gained a seasonally adjusted 0.2 percent on month in August, the Cabinet Office said on Monday - standing at 752.5 billion yen.

That beat forecasts for a decline of 1.0 percent following the 6.3 percent increase in July.

On a yearly basis, core machine orders sank 15.2 percent - beating expectations for a loss of 15.6 percent following the 16.2 percent drop in the previous month.

The total value of overall machinery orders received by 280 manufacturers operating in Japan increased by 19.8 percent on month in August and fell 16.5 percent on year.

Government orders were up 28.3 percent on month and down 19.4 percent on year at 267.7 billion yen, while overseas orders surged 49.6 percent on month and fell 7.4 percent on year at 919.0 billion yen and agency orders rose 0.5 percent on month and lost 18.1 percent on year at 99.9 billion yen.

For the third quarter of 2020, core machine orders are forecast to have fallen 1.9 percent on quarter and 15.5 percent on year.

Also on Monday: . The Bank of Japan said that producer prices in Japan were down 0.2 percent on month in September, missing expectations for a flat reading following the downwardly revised 0.1 percent increase in August (originally 0.2 percent).

On a yearly basis, producer prices sank 0.8 percent - again shy of expectations for a loss of 0.5 percent, which would have been unchanged from the August reading.

Export prices were up 0.1 percent on month and down 1.5 percent on year, the central bank said, while import prices rose 0.2 percent on month and tumbled 10.1 percent on year.

The BOJ also said that the value of overall bank lending in Japan was up 6.4 percent on year in September, coming in at 573.737 trillion yen. That was in line with expectations and down from the 6.7 percent gain in August. Excluding trusts, bank lending was up an annual 6.2 percent to 498.718 trillion yen, slowing from the 6.6 percent increase in the previous month. '

For the third quarter of 2020, overall bank lending was up 6.5 percent on year; excluding trusts, it was up 6.4 percent on year.

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