US: strong momentum for single-family houses
US: Housing starts (Sept.): 1415k vs 1465k expected (prior: 1388k revised from 1416k)
- Starts have rebounded after the fall the prior month, but they remained below their July high levels (1487 k).
- Trend in single family houses (starts and building permits) continued to rise, while data on multi-family houses have shown a slowdown in starts and permits over the past 3 months.
Switzerland: Trade balance (Sept.): 3.28 Bn CHF (prior: 3.54Bn)
- Trade surplus has declined from the prior month due to reversal in export performances.
- Real exports: -2.1% m/m after 3% M7M the prior month, real imports: 2.1% m/m after -0.5% m/m the prior month.
Germany: PPI (Sept.): 0.4% m/m vs -0.1% expected (prior: 0%)
- Basic good prices were up by 0.4% m/m, due to 1% m/m in energy prices; other prices were flat or slightly down over the month. Core PPI were up by 0.1% m/m.
- PPIs stayed in negative territory on yearly trend: -1% y/y after -1.2% y/y.
Poland: Industrial production (Sept.): 15.5% m/m vs 13.4% expected (prior: -5.8%)
- A strong rebound in activity in a traditional highly volatile monthly index; the rebound was centred on the manufacturing sector (17% m/m).
- Yearly trend has rebounded from 1.5% y/y the prior month to 5.9% y/y.
Poland: PPI (Sept.): 0.1%m/m as expected (prior: -0.4% revised from -0.3%)
- Mining prices were up by 1.9% m/m after -0.5% m/m the prior month.
- Yearly trend has turned more negative, from -1.3% y/y the prior month to -1.6% y/y.