US jobless claims fall by 10,000 in one week November 27, 2013 US jobless claims dropped by a seasonally adjusted 10,000 from 326,000 (revised from 323,000) to 316,000 in the week to 22 November. Analysts had expected claims to rise to 330,000. Continuing claims dropped from 2.876m to 2.776m. The 4-week moving average was 331,750, a decrease of 7,500 from the previous week's revised average of 339,250. [...]
UK retail sales index drops to five month low November 27, 2013 One survey has just shown retail trends at their lowest level in five months. The Confderation for British Industry's (CBI) indicator dropped from two to one in November, despite analysts expecting a monthly rise to eight. The CBI said that high-street sales were flat in the year to November, disappointing retailers' expectations for the second [...]
As Bitcoin approaches $1,000 are investors suffering from tulip mania? November 27, 2013 Comparisons between the dramatic ascent of Bitcoin and the tulip bulb mania that gripped 17th century Europe aren't new. They were made by UBS' Art Cashin before the currency popped in April. It did – dropping from $220 to less than $80. Fans of the cryptocurrency would always tell you that this time things are [...]
Third quarter GDP growth confirmed at 0.8 per cent as exports see biggest fall since 2011 November 27, 2013 Third quarter GDP growth has been confirmed at 0.8 per cent by the Office for National Statistics (ONS). Three of the 34 economists polled by Bloomberg expected the first estimate of third quarter GDP to show growth of 0.7 per cent, while another three saw it at 0.9 per cent. The vast majority – the [...]
German confidence climbs to six year high ahead of Christmas November 27, 2013 German shoppers are more optimistic about the state of the economy – as Chancellor Angela Merkel prepares to form a coalition government. Gfk's survey of consumer confidence has jumped from 7.1 to 7.4 in December. Last month's figure was revised up – from 7.0 to 7.1. Economists had expected a slight lift from 7.0 to [...]
Dollar drops on seven month low in US consumer confidence November 26, 2013 US consumers seem less upbeat – perhaps a delayed effect from October's partial government shutdown. That's seen the dollar slip against the pound. Confidence is down from 72.4 (revised from 71.2) to 70.4. Economists had forecast an uptick to 72.9. Amna Asaf of Capital Economics says that the decline "is a little disconcerting", but that [...]
US house prices soar by over 13 per cent in just a year November 26, 2013 US house prices are climbing fast – up 13.3 per cent in the year to September according to the S&P/Case Shiller index. That's well above the 13 per cent increase that analysts had been expecting. On this side of the pond, house prices increases are more moderate – at least at the national level. They [...]
US building permits jump to their highest level in almost 5.5 years – but markets don’t budge November 26, 2013 Construction in the US is soaring, with permits at their highest levels in nearly five-and-a-half years. Permits rose 6.2 per cent to an annualised pace of 1.03m in October. Analysts had expected an increase to just 0.93m. Paul Diggle of Capital Economics attributed the jump to the strong and often volatile multi-family sector, but said [...]
City A.M. editor scoops Business Commentator of the Year award November 26, 2013 City A.M. editor Allister Heath has been named Business Commentator of the Year at the Editorial Intelligence 2013 Comment Awards. Heath said at the awards breakfast this morning: "I dedicate this award to all my staff at City A.M. They work very hard and are great journalists. I also wish to thank the owners of [...]
Carney says ONS has a lot of work to do in order to bring data quality up to international standards November 26, 2013 In a week that's seen the Office for National Statistics (ONS) pressed to reconsider how it releases data – its systems are too slow to release information in a timely fashion – Bank of England governor Mark Carney has said that the ONS has a lot of work to do. Speaking before the Treasury Select [...]
