Today's headlines 16/12 📰
Morning Minute 16/12: European equities open lower after softer Chinese retail sales data Headlines: ◼️ Retail sales growth in China unexpectedly dropped in November while industrial output improved, official data released this morning showed | Retail sales data year on year came in at 3% with analysts expecting a print of 4.6%, marking the lowest reading in three months and highlighting the potential need for consumer-focussed stimulus. ◼️ European equities have opened lower on the day after the weaker than expected retail sales data in China dented sentiment | The Euro Stoxx 600 is trading 0.34% lower, while the FTSE has also lost 0.36%, futures on the S&P were little changed on the day. ◼️ Factory activity in Japan contracted for the sixth consecutive month in December, data released this morning showed | The au Jibun Bank flash manufacturing purchasing managers index fell at a slower pace, coming in at 49.5 on the month after a reading of 49 was seen in the previous period. Emerging Markets: ◼️ South Korea’s constitutional court has begun reviewing the impeachment case of President Yoon Suk Yeol, while investigators prepare to question him this week | The court will hold the first public preparatory meeting on December 27th, as confirmed by spokesperson Lee Jean. ◼️ Wholesale inflation in India slowed in November, government data confirmed this morning | Wholesale inflation came in at 2.2% on the month, after a reading of 2.36% was seen in the previous period. ◼️ Inflation in Israel fell in November, data released by the Central Bureau of Statistics showed. Annual inflation dropped to 3.4%, marking the lowest reading seen since July, with economists expecting a print of 3.6% over the same period. ------------------------------------------------- Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication
