US: firm industrial production but decreasing household confidence on government shutdown
US: Industrial production (Dec.): 0.3% m/m vs 0.2% expected (prior: 0.4% revised from 0.6%)
- Production has increased further thanks to a rebound in auto, while activity has recessed in utility; production was also sustained in electronics, defense and for construction supply.
US: Consumer confidence (Michigan) (Jan.): 110 vs 116 expected (prior: 116.1)
- According to preliminary data, sentiment has decreased on both current and mainly future situation.
- Household’s worries concern future economic situation, while willingness to buy large items remained high despite a relative small decrease in Jan.
- Government shutdown and turbulences in financial markets have negatively impacted household confidence.
Switzerland: PPI-import prices (Dec.): -0.6% m/m vs -0.1% expected (prior: -0.3%)
- Import prices have declined by 1.6% m/m and production prices were just down by 0.1% m/m:
- Yearly trend has moderated further from 1.4% y/y to 0.6% y/y for producer and import prices.
UK: Retail sales (Dec.): -0.9% m/m vs -0.8% expected (prior: 1.3% revised from 1.4%)
- Sales ex fuel were down by 1.3% m/m vs -0.8% m/m expected (1% the prior month); trend in internet sales remained positive.
- Downside risks are weighing on consumption as political scenario remains unclear.
Poland: Industrial production (Dec.): -11.5% m/m vs -9.6% expected (prior: -3.6%)
- Industrial activity has turned highly volatile over past quarter; trend in production has slowed down from 4.7% y/y the prior month to 2.8% y/y.