US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

Dutch inflation leaps to 17%, boosted by high energy prices

AMSTERDAM, Sept 30 (Reuters) – Inflation in the Netherlands jumped in September to its highest in decades, driven by skyrocketing energy prices, the statistics agency (CBS) said on Friday. Consumer prices, harmonized to be comparable with inflation data from other European Union countries (HICP), rose to 17.1% this month after August’s jump to 13.7%. Energy … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

French inflation unexpectedly pulls back again in September

PARIS, Sept 30 (Reuters) – French inflation slowed unexpectedly for a second month running in September, bucking the trend in neighboring Germany and the wider euro zone, helped by decelerating increases in prices of energy and services, data showed on Friday. The INSEE national statistics agency said France’s EU-harmonised rate of annual inflation fell to … Read more

Hong Kong retail sales slip 0.1% in August

HONG KONG, Sept 30 (Reuters) – Hong Kong’s August retail sales slipped 0.1% from a year earlier amid a high base of comparison, government data showed on Friday. Sales decreased to HK$28.6 billion ($3.64 billion), having grown 4.1% in July. In volume terms, retail sales fell 2.9% year-on-year in August. That compares with a revised … Read more

INDIA RUPEE Rupee seen higher on current account deficit surprise, dollar retreat

MUMBAI, Sept 30 (Reuters) – The Indian rupee is expected to open higher against the US dollar on Friday, after the country reported a lower-than-expected current account deficit for the June quarter. The dollar index pulling back further from multi-year highs will likely be an additional boost for the rupee, traders said. The rupee is … Read more

Japan’s factories boost output for third month in August

August output rises 2.7%, stronger than expected Manufacturers see output up in Sept, Oct Retail sales post y/y rise for the 6th straight month TOKYO, Sept 30 (Reuters) – Japan’s factories ramped up output for a third straight month in August, as the manufacturing sector showed resilience amid high material costs and worries about a … Read more

Spain’s 12-month inflation slows down to 9.0% in September from 10.5%

Sept 29 (Reuters) – Spain’s consumer prices rose 9.0% year-on-year in September, down from 10.5% in the previous month, preliminary data from the National Statistics Institute (INE) showed on Thursday. The reading was the lowest since May and lower than the 10.1% forecast by analysts polled by Reuters. Core inflation, which strips out volatile fresh … Read more

Australia monthly CPI measure slows slightly to 6.8% y/y in August

SYDNEY, Sept 29 (Reuters) – A new monthly measure of Australian consumer prices on Thursday showed annual inflation eased slightly in August from July thanks to a steep drop in petrol prices, offering hope cost of living pressures might be close to a peak. The data come before the Reserve Bank of Australia’s (RBA) policy … Read more

China may extend refined fuel export quota into next year – sources

SINGAPORE/BEIJING, Sept 28 (Reuters) – China may tweak a proposed sharp increase in refined fuel export quotas for this year by extending the plan into next year, as it weighs the benefits to the economy of higher exports against low domestic stocks and operational challenges, four sources told Reuters. However, the four sources with direct … Read more