The world slowly continues its exit from the great recession. However, the global zero rate policies shave their mark in too many financial figures. Japan published a rather impressive Current Account Balance on Monday, presenting an increase to ¥ 587.3 billion. This seems to be the result of an increase at the value of Japanese foreign investment’s income rather than an actual increase of export value. Later that day, China published its Money Supply statistics, indicating a 14.3% annual increase, not highly unusual given the 7.8% GDP increase presented last month.
Unlike monetary data, which are quite volatile nowadays due to the globally low interest rates, tangible indicators appeared much more moderate. The Italian Industrial Production index presented only a 0.2% monthly increase on Monday. A monthly decrease of the same magnitude was presented on Tuesday at the Japanese Tertiary Industry Index of September.
Tuesday also revealed mild price increases throughout the Eurozone. Germany’s CPI presented an annual 1.2% increase. A muted 0.8% increase was recorded in Italy. The U.K., with its relatively upbeat growth compared to the rest of the Eurozone, presented a 2.2% annual increase. Spanish CPI, on the other hand, presented a -0.1% annual decrease on Wednesday.
On Thursday, Japanese GDP presented a 0.5% seasonally adjusted quarterly increase, higher than that of Germany which had only a 0.3% increase, and both were higher than the Eurozone’s 0.1% quarterly increase. U.S. Initial Jobless Claims continued their slow recovery as 339K claims were submitted during the previous week.
The week concluded with the Eurozone’s aggregated price index recording a 0.7% annual increase, and U.S. Industrial Production recording a monthly -0.1% decrease.
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