Tag: surprise

Brazil in unexpected interest rate cut

Brazil in unexpected interest rate cut

Brazil’s central bank has cut the country’s key interest rate to 12% from 12.5% - a move which surprised economists. However, the bank said there had been a “substantial deterioration” in the outlook for the global economy and that was its reason for the rate cut. One analyst said the rate cut is a “huge [...]

September 1, 2011 | 0 Comments More
UK trade deficit widens in May

UK trade deficit widens in May

The Office for National Statistics (ONS) has today revealed the UK’s trade deficit widened in May to £8.48 billion from a revised £7.6 billion in April. The figures surprised economists who had expected the trade gap to narrow to £7.3 billion. Meanwhile, the ONS said exports rose by 4.2% on a monthly basis to £25.4 [...]

July 12, 2011 | 0 Comments More
South Korea lifts rates to combat inflation

South Korea lifts rates to combat inflation

South Korea’s central bank has today elected to lift interest rates in order tame high inflation. The move surprised analysts after the bank held interest rates last month and inflation fell to 4.1% in May, after reaching a 29-month high of 4.7% in March. Inflation remains at the higher end of the central bank’s 2%-4% [...]

June 10, 2011 | 0 Comments More
UK construction activity surprises in May

UK construction activity surprises in May

The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity beat expectations last month. The PMI rose to 54.0 in May, from April’s reading of 53.3 – beating expectations of 53.6. Furthermore, the index remains above the crucial 50 mark, which indicates expansion. Commenting on the [...]

June 2, 2011 | 0 Comments More
German business confidence remains flat in May

German business confidence remains flat in May

The Munich-based Ifo think tank has revealed confidence among German firms remained flat in May. The closely-watched Business Climate Index remained unchanged at 114.2 in May, surprising analysts’ who had expected the index to slip to 113.7. Ifo surveys around 7,000 German manufacturing, construction, wholesale and retail companies each month. Export demand helped to bring [...]

May 24, 2011 | 0 Comments More
South Korea holds interest rates despite rising inflation

South Korea holds interest rates despite rising inflation

South Korea’s central bank has today elected to hold interest rates for the second consecutive month despite rising inflation. The move surprised analysts who had forecast a 0.25% rise. The latest figures from Statistics Korea showed the consumer price index hit 4.2% in April on an annual basis. The rate is higher than the central [...]

May 13, 2011 | 0 Comments More
ONS: Surprise rise in March retail sales

ONS: Surprise rise in March retail sales

The Office for National Statistics (ONS) has today reported a rise in UK retail sales for the month of March. According to the ONS, sales volumes registered a surprise rise of 0.2% on a monthly basis – driven by strong food and non-store sales. However, other sectors which performed well included garden stores and toy [...]

April 21, 2011 | 0 Comments More
UK inflation in surprise fall to 4% in March

UK inflation in surprise fall to 4% in March

The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) fell to an annual rate of 4% in March, from February’s 28-month high of 4.4%. The fall was attributed to food prices, which fell 1.4%. While it was the first time in eight months inflation had slowed, it still remains double the target [...]

April 12, 2011 | 0 Comments More
UK manufacturing output in surprise fall

UK manufacturing output in surprise fall

The Office for National Statistics (ONS) has today revealed UK manufacturing output experienced a shock fall in February after recovering in January following December’s weather related fall. According to the ONS, manufacturing output fell 1.2% on the month - attributed to a sharp drop in oil and gas production. However, analysts believe the fall is [...]

April 6, 2011 | 0 Comments More
South Korea holds interest rates despite inflationary pressures

South Korea holds interest rates despite inflationary pressures

South Korea’s central bank has elected to keep interest rates on hold despite rising inflation. The move surprised analysts who had expected a further rate rise after last month’s increase to 2.75%. However, analysts believe rates will be increased next month, with many predicting rates to be between 3.5% and 3.75% by the end of [...]

February 11, 2011 | 0 Comments More
US unemployment rate drops to 9%

US unemployment rate drops to 9%

The Labor Department has revealed the unemployment rate in the US has fallen from 9.4% in December to 9% in January - confounding expectations of a rise to 9.5%. It also follows on from the sharp drop of 9.8% reported for the month of November. However, the large fall has been attributed to jobseekers giving [...]

February 4, 2011 | 0 Comments More
Euro zone retail sales fall in December

Euro zone retail sales fall in December

The European Union’s statistics office Eurostat has today revealed retail sales fell unexpectedly in the euro zone last month. It represented the second consecutive monthly decline and followed November’s fall of 0.3%. According to Eurostat, sales fell 0.6% in December on the month, while on an annual basis, sales were down 0.9%. The figures surprised [...]

February 3, 2011 | 0 Comments More
UK service sector activity in surprise contraction in December

UK service sector activity in surprise contraction in December

Growth in the UK’s closely-watched service sector contracted in December - suggesting a sharp slowdown in economic growth in the final quarter of 2010. The Chartered Institute of Purchasing and Supply (CIPS)/Markit purchasing managers’ index (PMI) fell to 49.7 in December, down from the reading of 53.0 in November. Not only did the sector endure [...]

January 6, 2011 | 0 Comments More
UK construction activity in surprise contraction in December

UK construction activity in surprise contraction in December

The Chartered Institute of Purchasing and Supply (CIPS)/Markit construction purchasing managers’ index (PMI) has today revealed UK construction activity contracted unexpectedly in December. The Purchasing Managers’ Index slumped to 49.1 in December, from 51.8 in November - the first fall since February last year and surprised analysts. The latest figures mean the index is now [...]

January 5, 2011 | 0 Comments More
BoE: Mortgage approvals pick up in November

BoE: Mortgage approvals pick up in November

The Bank of England has today revealed mortgage approvals picked up in November - surprising analysts. According to the Bank, there were 48,019 loans approved in the month, up from October’s 47,315 approvals. Not only did this represent the highest level since July, it confounded expectations of a level of 47,000. Meanwhile, approvals for remortgaging [...]

January 4, 2011 | 0 Comments More
UK Q3 economic growth figures revised down

UK Q3 economic growth figures revised down

The Office for National Statistics (ONS) has today revealed the UK economy grew by 0.7% in the July to September period – down from its previous estimate of 0.8%. On an annual basis, meanwhile, growth was also revised down to 2.7% from 2.8%. Both figures surprised economists who had expected quarterly and annual growth to [...]

December 22, 2010 | 0 Comments More
German consumer confidence dips, surprising analysts

German consumer confidence dips, surprising analysts

Consumer confidence in Germany, which is the euro zone’s largest economy, has fallen after six months of sharp gains, according to the GfK research group. GfK said its consumer climate indicator fell to 5.4 for January from 5.5 in December. The fall from the forward looking indicator, which questioned around 2,000 people, surprised some analysts. [...]

December 21, 2010 | 0 Comments More
UK construction activity picks up in November

UK construction activity picks up in November

The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index revealed activity improved in November. The Purchasing Managers’ Index rose to 51.8 in November from 51.6 the previous month and surprised analysts who had expected a fall to 51. The index remains above the crucial 50 level, which indicates expansion. Activity in the commercial and [...]

December 2, 2010 | 0 Comments More
UK inflation rises to 3.2% in October

UK inflation rises to 3.2% in October

The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) rose to an annual rate of 3.2% in October, up from 3.1% in September. The latest figure represents the eleventh consecutive month that inflation has been above the target of 2% and will prompt the Governor of the Bank of England, Mervyn [...]

November 16, 2010 | 0 Comments More
UK construction activity falls more than expected in October

UK construction activity falls more than expected in October

The Chartered Institute of Purchasing and Supply(CIPS)/Markit construction PMI index revealed activity slowed in October. The index fell from 53.8 in September to 51.6 last month - confounding expectations of a more modest fall to 53. However, the index remains above the crucial 50 level, which indicates expansion. The figures suggest, though, that construction will [...]

November 2, 2010 | 0 Comments More