{LONGTERMINVESTORS} MACRO UPDATE U.S. · U.S. retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength. Retail sales increased 0.8 percent last month, also boosted by demand for building materials. · Adding to the report's bullish tone, September retail sales were revised up to show a 1.0 percent increase instead of the previously reported 0.6 percent rise. · Core retail sales, excluding automobiles, gasoline, building materials and food services, jumped 0.8 percent last month after an upwardly revised 0.3 percent gain in September. Eurozone · The euro zone's economy grew in the third quarter, showing a 0.3 percent in the region's gross domestic product (GDP) on the previous three months and up 1.6 percent year on year. · The figures were boosted by a rebound in smaller countries, including Portugal, which saw its fastest growth pace since 2013. UK · The UK inflation rate registered a surprise fall in Oct

MACRO UPDATE

U.S.

·         U.S. retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength. Retail sales increased 0.8 percent last month, also boosted by demand for building materials.

·         Adding to the report's bullish tone, September retail sales were revised up to show a 1.0 percent increase instead of the previously reported 0.6 percent rise.

·         Core retail sales, excluding automobiles, gasoline, building materials and food services, jumped 0.8 percent last month after an upwardly revised 0.3 percent gain in September.

 

Eurozone

·         The euro zone's economy grew in the third quarter, showing a 0.3 percent in the region's gross domestic product (GDP) on the previous three months and up 1.6 percent year on year.

·         The figures were boosted by a rebound in smaller countries, including Portugal, which saw its fastest growth pace since 2013.

 

UK

·         The UK inflation rate registered a surprise fall in October, although there were signs that the pressure on consumer prices is starting to build. Consumer Prices Index (CPI) inflation fell to 0.9%, from 1% in September, that was below the 1.1% predicted by economists.

 

Singapore

·         Retail sales in Singapore, excluding vehicles, for the month of September inched up slightly from the previous month, but were still lower than the same month last year. Figures from the Department of Statistics (DOS) showed on Tuesday that sales had increased by 0.7 per cent month-on-month, but fell 1.9 per cent year-on-year.

Source: Reuters, CNBC, BBC, Business Times, Phillip Securities Research (Singapore)

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CA Mihir Desai

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