Poor retail sales report casts a shadow on domestic spending momentum

Oct 14, 2015 15:54 pm UTC| Commentary

Retail sales rose 0.1% M/M in September, below market expectations for 0.2%. Augusts figure was downwardly-revised from 0.2% to 0.0%. Strong sales at motor vehicle and parts dealers (+1.7%) were offset by lower sales at...

US Q3 GDP tracking 1.2% after August business inventories

Oct 14, 2015 15:50 pm UTC| Commentary

Total business inventories were unchanged in August, weaker than forecast (0.2%) and consensus expectations (0.1%). The details of the report, however, show that the miss relative to expectations was driven by a slower...

Producer price weakness broadly based

Oct 14, 2015 15:45 pm UTC| Commentary

Producer prices fell more than expected in September. Headline PPI was down 0.5% m/m, below forecast (-0.1%) and consensus (-0.2%) expectations. Core PPI declined 0.3% m/m (consensus: 0.1%). Although energy prices remained...

Soft September retail sales likely due to price effects

Oct 14, 2015 15:30 pm UTC| Commentary

Retail sales rose 0.1% m/m in September, in line with our forecast (0.1%) and modestly below consensus expectations (0.2%); however, the details of this mornings report painted a softer picture of nominal consumption...

Consequences of reinstating ECB’s waiver

Oct 14, 2015 12:07 pm UTC| Commentary Central Banks

An important decision for the ECB in the forthcoming months will concern the waiver on GGBs. At the September ECB press conference, ECB President Mario Draghi stated that such a decision cannot be made during the review...

France’s core inflation rate likely to remain very low

Oct 14, 2015 12:02 pm UTC| Commentary

Frances headline HICP inflation rate held above zero in September, todays data revealed that price pressures remain exceptionally weak and will add to the growing pressure on the ECB to increase its policy...

European cocoa grinding surprises positively in Q3

Oct 14, 2015 11:08 am UTC| Commentary

The European Cocoa Association (ECA) has reported a 2% year-on-year increase in European cocoa grinding to 334,000 tons in the third quarter of 2015. This is the highest figure since the first quarter of 2014. In surveys,...