International Economic
Eurozone 'stuck in a rut' as business activity contracts for second month
Business activity across the eurozone remained in the doldrums this month, with the composite purchasing managers' index (PMI) rising but remaining close to a seven-month low.
FCA fines VW Finance £5.4m for unfair customer treatment
The Financial Conduct Authority (FCA) has fined Volkswagen Financial Services UK £5. 4m for failing to treat customers in financial difficulty fairly, it announced on Monday.
German producer prices fall more than expected
Wholesale prices in Germany fell for the first time in seven months in September as energy prices continued to decline, while the annual rate of deflation picked up pace, according to figures from the Federal Statistical Office on Monday.
PBOC cuts benchmark lending rates as expected
The People’s Bank of China said on Monday that it was cutting its two benchmark lending rates by 25 basis points.
US housing starts slip 0.5pc in September
US housing starts slipped 0. 5% month-on-month to a reading of 1. 35m in September, according to the Census Bureau, in line with market expectations.
Eurozone construction edged higher in August
Construction output in the eurozone inched higher in August but remained well below last year's levels, according to figures from Eurostat on Friday.
China's economic growth slows in third quarter
China’s faltering economic growth slowed in the last quarter, official data released on Friday showed, although the slowdown was not as steep as feared.
US industrial production falls as strikes, hurricanes hit output
Industrial production in the US retreated in September, falling more than expected, according to data from the Federal Reserve on Thursday.
Philly Fed manufacturing index surges to 10.3 in October
The Philadelphia Federal Reserve's manufacturing index surged to 10. 3 in October, a marked increase when compared to the previous month's reading of 1. 7 and significantly ahead of expectations for a print of 3.
US retail sales rise more than expected in September
US retail sales rose more than expected in September, according to fresh data released on Thursday, driven by a broad-based increase across several sectors.
Turkish central bank holds rates at 50%
Turkey’s central bank said on Thursday that it was keeping interest rates steady at 50%, as widely expected.
US initial jobless claims fall from 14-month high
Americans lined up for unemployment benefits at a decelerated pace in the week ended 12 October, according to the Labor Department, down from a 14-month high in the previous week.
ECB cuts rates to 3.25%, as expected
The European Central Bank cut interest rates on Thursday for the third time this year, as expected.
Eurozone inflation revised lower, reinforcing calls for ECB rate cut
Eurozone inflation figures for September were revised lower on Thursday, falling further below the European Central Bank's target of 2% to levels not seen since April 2021.
US import price index undershoots forecasts in September
The cost in the US of goods purchased overseas undershot economists' forecasts last month as the fuel prices plummeted.
US mortgage applications plummet by 17pc
US mortgage applications fell by 17% in the week ended 11 October, according to the Mortgage Bankers Association of America, extending the prior week's 5. 1% drop.
Eurozone industrial production rebounds in August
Eurozone industrial production posted a robust 1. 8% month-on-month increase in August, marking a significant rebound from the 0. 5% contraction in July, according to fresh data from Eurostat.
German economic sentiment rebounds as global macro outlook improves
Economists, analysts and finance professionals turned more positive about the outlook for the Germany economy this month, according to the closely watched ZEW Indicator of Economic Sentiment on Tuesday.
UK wage growth falls as employers cut payrolls, raising rate cut hopes
UK earnings growth fell to its lowest level for more than two years, in another sign that the jobs market was weakening as businesses cut the number of workers on payrolls, according to data published on Tuesday, raising the expectations of a rate cut from the Bank of England next month.
China export and import growth slows further
China's exports and imports grew significantly less than expected in September, according to fresh data released on Monday.