Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Daily Economic Outlook: 11th November 2015

Data wise, the latest UK labour market report will provide some reassurance that underlying trends remain solid. Employment in the 3 months to August rose by 140k which, alongside a 79k drop in unemployment, combined to nudge the jobless rate lower to 5.4% from 5.5%. 

The latest surveys of hiring intentions point to further job gains in UK and a rise of 120k in the 3 months to September, notes Lloyds Bank. While a further decline in the number unemployed is expected. The jobless rate is expected to remain at 5.4% for now, forecasts Lloyds Bank. Consistent with a firm pace of labour market activity, earnings growth is also expected to firm over the same period to 3.2% on the headline measure despite a modest easing in regular pay growth. 

The Bank of England's Open Forum will be attended by ECB President Mario Draghi, who is scheduled to speak at 13:15 GMT, while comments from Governor Carney are also expected throughout the day.

The recent Chinese data are unlikely to have materially altered ongoing speculation of further bouts of easing from the People's Bank of China, the reported health of the Chinese economy remains a key influence over the outlook for US monetary policy.

The downside risks to the US economy from weakening global growth may be less severe than previously thought will be the key reason for the shift towards a more hawkish stance by the FOMC.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.