LiveWire

The Consumer Price Index In the Euro Area increased by 0.80 percent in October of 2021 over the previous month. It is the highest monthly rate since March. The basic basket of goods keeps rising as supply still fails to satisfy global demand. The Eurozone GDP Growth Rate remained at around 2.2% quarter on quarter, slightly beating market expectations of 2%. Source: Eurostat, TradingEconomics

The euro area economy continues to recover strongly, but growth momentum has moderated. Shortages in some sectors continue to hold back the economy with transport and energy prices rising significantly. Inflation could be higher for longer, but should decline in 2022 with the ECB pointing to oil, gas and electricity prices soaring as temporary dislocations between supply and demand. The ECB decided to keep moderately lowering the pace of asset purchases. Interest rates on marginal lending, and deposits will remain unchanged.  

It is the weakest growth since a record 31.2% contraction in Q2 2020, the advance estimate showed. Increases in private inventory investment, personal consumption expenditures (PCE), state and local government spending, and nonresidential fixed investment were partly offset by decreases in residential fixed investment, federal government spending, and exports. Imports also increased.

The #GfKConsumerClimateIndicator in #Germany unexpectedly jumped to 0.9 heading into November of 2021 from an upwardly revised 0.4 in October and beating market forecasts that had expected a negative figure -0.5. It is the highest reading since April 2020 although the positive mood will likely fade if prices continue to soar. Propensity to buy improved but both economic and income expectations fell. @Trading Economics

New Home Sales in the United States increased to 800 Thousand units in September from 702 Thousand units in August of 2021, according to the US Census Bureau.