Wednesday, February 10, 2016 - 10:00 UK GDP Growth Slows At Turn Of Year; 0.4% 3m/3m in Jan: NIESR 0
By David Robinson
LONDON (MNI) - UK GDP growth slowed around the turn of the year, hit by weak industrial production, according to estimates by the National Institute of Economic and Social Research.
Growth decelerated to 0.4% in the three months through January, NIESR estimated. That was down on previous three months, which saw the fourth quarter grow 0.5%. The pace of growth in January was back in line with the three monthly rate seen in July through September.
UK growth estimates are being ratcheted down across forecasters.
Wednesday, February 10, 2016 - 07:00 US MBA Text: Refis +16%; Mkt Composite +9.3% Feb 5 Wk 0
WASHINGTON (MNI) - Mortgage applications increased 9.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 5, 2016.
The Market Composite Index, a measure of mortgage loan application volume, increased 9.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 12 percent compared with the previous week. The Refinance Index increased 16 percent from the previous week.
Wednesday, February 10, 2016 - 04:51 BOE Agents: Recruitment Difficulties Remain Across Economy 0
LONDON (MNI) - Bank of England agents reported that recruitment difficulties remained across the economy in January, but noted labour cost growth remained modest, a survey published Wednesday shows.
The report's findings were broadly similar to those in recent recent months, as agents found that in both the manufacturing sector and consumer services hiring plans were reined back, with the a modest contraction expected in the manufacturing sector workforce over the next 6 months.
Recruitment difficulties had remained above normal but had eased alongside "softening employment intentions" and a feed through from increased training programmes, the survey said.
Labour cost growth had remained modest, the agents said, but...
Wednesday, February 10, 2016 - 04:30 UK Analysis: Dec Industrial Output Plunges; Q4 Revised Lower 0
-UK Dec Index of Production -1.1% m/m, -0.4% y/y -UK Q4 IoP -0.5% q/q vs the -0.2% used in first Q4 GDP estimate -UK Q4 IoP changed knocks 0.04pp off Q4 GDP growth
By Laurie Laird and David Robinson
London (MNI) - UK industrial production fell sharply in December, dampened by a fall in oil and gas production, leaving output lower over the fourth quarter than reported in the first reading of gross domestic product.
Total production plunged by 1.1% in December and by 0.4% over the same month of 2014, compared to market expectations of no change between November and December and a 1.0% annual improvement.
Wednesday, February 10, 2016 - 00:53 ANALYSTS: Japan Q4 GDP Seen Down on Weak Spending, Capex 0
TOKYO (MNI) - Japan's economy is estimated to have posted the first contraction in two quarters in October-December, down 0.3% on quarter, or an annualized -1.0%, hit by sluggish consumer spending and capital investment, the median economist forecast shows.
Q4 GDP forecasts by 10 economists ranged from -0.6% to +0.2% on quarter, or an annualized -2.5% to +0.7%.
The Cabinet Office will release preliminary GDP data for the October-December quarter at 0850 JST Monday (2350 GMT Sunday).
In Q3, the economy expanded 0.3% on quarter, or an annualized +1.0%, led by capex and consumption, after shrinking 0.1%, or an annualized 0.5%, in April-June.
In Q4, net exports appear to have posted the second straight...
Tuesday, February 9, 2016 - 19:15 Japan Jan Producer Prices Down 10th Month; Fuel Drop Slower 0
--Japan Jan Corporate Goods Prices -3.1% Y/Y; Median -2.8%
--Japan Jan CGPI -0.9% M/M; Median Forecast -0.7%
TOKYO (MNI) - The corporate goods price index (CGPI) from the Bank of Japan released Wednesday.
FACTORS: The corporate goods price index fell 3.1% on year in January for the 10th straight fall but the pace of decline decelerated from a revised -3.5% in December as the drops in fuel prices and material costs for making plastics were smaller than before. The prices for nonferrous metals as well as electronic devices (chips, TVs, etc.) posted larger declines.
The decrease was slightly bigger than the median economist forecast of -2.8%.