The mood of German consumers improved again slightly in October and the downward trend in the consumer climate has come to an end. Following a revised value of 8.4 points in October, the overall indicator is forecasting 8.5 points for November.
Income expectations and willingness to buy have increased slightly, while almost no change was recorded in economic expectations. In October, German consumers were evidently less affected by the continued problematic geopolitical situation and the resultant economic slowdown than they had been in the previous month.
Britain still looks on track to outpace other advanced economies this year after rapid growth eased only slightly in the three months to September, but a euro zone slowdown could hamper the recovery in the run-up to next May's election. Official data on Friday showed the economy expanded by 0.7 percent in the third quarter, compared with 0.9 percent the quarter before in line with economists expectations.
While the pace of growth was still above Britain's long-run average, the upturn slowed in the service industries that dominate the economy, and manufacturing output rose at its weakest pace in 18 months .Few economists expected Britain's previous quarterly economic growth rate - one of the highest in almost a decade - would be sustained.
Finance minister George Osborne welcomed the data but said growth could slow further because of external factors, stating that "The UK is not immune to weakness in the euro area and instability in global markets, so we face a critical moment for our economy".
Purchases of new homes in the U.S. were little changed in September after the prior month was revised down, showing an uneven recovery that will limit how much residential real estate contributes to US growth. Home sales are struggling to accelerate further as restrictive lending rules and wage gains that barely keep pace with inflation prevent lower-income buyers from stepping into the market. The recent drop in mortgage rates will probably help prop up residential real estate heading into 2015.
13:45 - USD : Markit Serices PMI (Oct) Expected to fall from 58.9 to 58
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