US: a rebound in sentiment in housing; weakening inflation in many countries after decline in oil prices
US: Import price index (Dec.): -1% m/m vs -1.3% expected (prior: -1.9% revised from -1.6%)
- Ex energy, prices were up by 0.3% m/m (-0.3% m/m the prior month); yearly trend has moderated from 0.5% y/y to -0.6% y/y.
- Export prices were also down by 0.6% m/m, and have moderated from 1.8% y/y to 1.1% y/y.
US: NAHB housing market index (Jan.): 58 vs 56 expected (prior: 56)
- Sentiment in housing has rebounded on higher present and future sales after interest rates have moderated.
UK: CPI (Dec.): 0.2% m/m as expected (prior: 0.2%)
- Prices of food, transport and household goods have accelerated, while those of clothes decreased over the month.
- Yearly trend has declined from 2.3% y/y past month to 2.1% y/y; core inflation has slightly increased from 1.8% y/y to 1.9% y/y.
- Less pressure on BoE from inflation, but still concerns from tight labor and uncertain political environment.
UK: PPI Input prices (Dec.): -1% m/m vs -1.4% expected (prior: -2.6% revised from -2.3%)
- Yearly trend has moderated further from 5.3% y/y to 3.7% y/y.
- A large fall in energy prices and some contraction in chemical while other prices have slightly increased.
UK: PPI Output prices (Dec.): -0.3% m/m vs 0% expected (prior: 0.1% revised from 0.2%)
- Core PPI were up by 0.2% m/m; yearly trend has moderated from 3% y/y to 2.5% y/y, while core prices have increased from 2.4% y/y to 2.5% y/y.
Germany: CPI (Dec.): 0.3% m/m as expected (prior: 0.1%)
- Inflation has been confirmed lower due to declining oil prices and for clothes. Core inflation was up by 0.1%m/m after 0% m/m.
- Trend has moderated from 2.3% y/y to 1.7% y/y. Core inflation was slightly down from 1.5% y/y to 1.4% y/y.
Italy: Industrial orders (Dec.): -2% m/m (prior: 1.8% revised from 2%)
- While foreign orders stayed positive (+1.4% m/m), domestic orders have drastically fallen (-4.4% m/m), due to transport and pharma.
- Industrial sales were up by 0.6% m/m (after 2% m/m prior month), driven by foreign sales.