Weekly Fundamental Bulletin: A Busy Week Ahead Of The Holidays

Last week’s highlights

China’s consumer prices fall for the first time in eleven years

The latest inflation data from China showed a drop in consumer prices. This was the first drop in headline CPI since 2009, according to official data released last week.

Inflation in China fell by 0.5% on a year over year basis in November. This followed a 0.5% increase in the month before.

The decline came noticeably on the back of weaker pork prices which fell by 2% annually.

Core inflation data, which strips out the volatile food and energy prices, came in at a 0.5% increase from the year before.

UK GDP growth slows in October

The latest GDP report from the UK showed a six-month continuous expansion. However, the pace of economic expansion slowed considerably in October.

Data from the UK’s Office for National Statistics showed that the economy rose 0.4% on a month over month basis. This was slower compared to the 1.1% increase in September.

Construction output grew one percent on the month after a 2.9% increase in the previous month. Meanwhile, manufacturing growth improved from 0.5% in September to 1.3% in October.

US consumer prices rise by 0.2% in November

The latest inflation data from the United States showed a modest increase in consumer prices.

Official data from the Labor Department showed an increase of 0.2% in November. This follows a flat reading for October.

The uptick in consumer prices was in line with the estimates. The core inflation rate, which excludes volatile food and energy prices, rose by 0.2% in November. This follows a flat reading in the month before.

Economists had forecast that the core inflation rate would rise by 0.1%.

Bank of Canada keeps rates steady

The Bank of Canada held its monetary policy meeting last week.

As widely expected, the central bank left interest rates unchanged. It also kept its forward guidance unchanged at the meeting.

In the statement, the BoC said that it expects the new wave of infection to hurt recovery in the global economy.

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