German GDP Showed Favorable Results | Switzerland Employment Level Keeps Its Trend
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The end of the week is quiet due to America's lack of activity due to Thanksgiving. The market's attention will be focused mainly on the Asian and European markets. Today, an important report turns out to be the result of the German GDP.
Tokyo CPI
At the beginning of today, Japan, and more specifically Tokyo, published its inflation report. In this city, Core CPI increased from 3.4% to 3.6% and it was a higher than expected reading (3.5%). The upward trend of this indicator has been going on since the beginning of May, but since May Core CPI has been above 1.0%.
Also CPI increased significantly from 3.5% to 3.8%.
The consumer price index only in Tokyo excluding fresh food and energy prices held its previous level of 0.2%. In this city, the rate peaked this year in May (0.4%), and then fell twice. After that, from July to September it held the level of 0.3%.
Singapore Industrial Production
Singapore Industrial Production MoM increased significantly. Comparing October to September, the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities was 0.9%, which is a good result as another decline was expected.
The same index comparing the result from October 22 to October 21 has fallen. The fall was expected. The current reading is -0.8%, it is the first result in a year that was below zero, but it was higher than the expected -0.9%. This means that the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities has decreased significantly, but not as much as expected.
Source: investing.com
German GDP
In Germany, both the quarterly and annual change in gross domestic product turned out to be a positive surprise.
GDP Q3 YoY was 1.2%. Unfortunately, it was a decrease in comparison to the previous period, the reading of which was at the level of 1.8%. This time it was expected to score 0.1% lower.
A very positive result for the German economy as well as for the euro zone turns out to be the reading of GDP Q3 q/q. The index increased by 0.3% compared to the previous period and reached the level of 0.4%. An increase to 0.3% was expected, but the result higher than expected may raise some optimism.
German GDP figures show the country’s economy has grown slightly more in the third quarter than anticipated on the back of consumer spending.
Switzerland Employment Level
The Employment Level measures the number of people employed during the previous quarter.
As the current reading shows, the exemplary trend is successively maintained. Employment increased this time to the level of 5,362M. The previous reading was about 46M than (5,316M). Such results show the good condition of the economy, because employment increases household income, and thus these households are able to spend more, which drives the economy because money remains in constant circulation.
ECB’s speeches
Markets expect only two speeches at the end of the week, and this time only from the European Central Bank (ECB).
The first speeches took place at 9:50 CET. The European Central Bank Supervisory Board Member Kerstin af Jochnick spoke.
The second and final speech of the day will take place at 18:00 CET, with Luis de Guindos, Vice-President of the European Central Bank
The speeches of the ECB's officials often contain references to possible future monetary policy objectives, assessments and measures. What's more, statements can give strength to the euro (EUR), or set it in the opposite direction.
Summary:
- 0:30 CET Tokyo CPI
- 0:30 CET CPI Tokyo Ex Food and Energy (MoM) (Nov)
- 6:00 CET Singapore Industrial Production MoM
- 8:00 CET German GDP (Q3)
- 8:30 CET Switzerland Employment Level
- 9:50 CET ECB's Supervisory Board Member Jochnick Speaks
- 18:00 CET ECB's De Guindos Speaks
Source: https://www.investing.com/economic-calendar/
