UK Nationwide House Prices Rise At Fastest Pace In 4 Years UK house price inflation rose to a four-year high in September driven by pent-up demand and stamp duty holiday, data from the Nationwide Building Society showed Wednesday. House prices grew 5 percent year-on-year in September, which was the highest since September 2016. Inflation was forecast to rise moderately to 4.5 percent from 3.7 percent.

UK GDP Contracts At Record Pace In Q2 The UK economy contracted at a record pace in the second quarter but the decline was less severe than previously estimated, revised data from the Office for National Statistics showed Wednesday. Due to the coronavirus containment measures, gross domestic product fell 19.8 percent sequentially. The rate was revised from a 20.4 percent fall estimated initially.

China's Manufacturing Sector Logs Robust Growth China's manufacturing sector logged a strong momentum in September driven by robust domestic and foreign demand after the easing of lockdown measures, survey data from IHS Markit showed Wednesday. The Caixin manufacturing Purchasing Managers' Index edged down to 53.0 in September from 53.1 in August.

European Economics Preview: Eurozone Consumer Price Data Due Consumer prices from euro area, unemployment and retail sales from Germany are due on Wednesday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics releases revised UK GDP data for the second quarter. The economy is forecast to shrink 20.4 percent sequentially, as initially estimated.

Japan Industrial Output Climbs 1.7% In August Industrial production in Japan added a seasonally adjusted 1.7 percent on month in August, the ministry of Economy, Trade and Industry said on Wednesday. That exceeded expectations for an increase of 1.5 percent following the 8.7 percent gain in July. On a yearly basis, industrial production dropped...

New Zealand Building Consents Rise 0.3% In August The total number of building consents issued in New Zealand gained a seasonally adjusted 0.3 percent on month in August, Statistics New Zealand said on Wednesday - standing at 3,147. That was roughly in line with expectations following the downwardly revised 4.6 percent drop in July (originally -4.5...

U.S. Dollar Extends Slide The U.S. dollar eased against its peers on Tuesday, extending losses from previous session, and drifting further down from two-month highs posted last week, as the focus shifted to the first presidential debate, due later in the day.

Eurozone Economic Sentiment At 6-Month High Eurozone economic confidence index reached a six-month high in September driven by waning pessimism in industry, retail trade, construction and services, survey data from the European Commission showed Tuesday. The economic confidence index rose to 91.1 in September from 87.5 in August. This was the highest score since March and above economists' forecast of 89.0.

European Economics Preview: Eurozone Economic Confidence Data Due Economic confidence from euro area and mortgage approvals data from the UK are due on Tuesday, headlining a busy day for the European economic news. At 2.45 am ET, the statistical office Insee publishes France's monthly consumer confidence survey data for September. The consumer sentiment index is forecast to fall marginally to 93.0 from 94 in August.

Dollar Exhibits Weakness Against Peers The U.S. dollar was weak against its peers on Monday as rising equities, data showing an improvement in China's industrial profits and optimism about a new coronavirus relief bill in the U.S. dimmed the currency's safe-haven appeal.

Dollar Firms Up Against Peers The U.S. dollar gained against its peers on Friday on safe-haven appeal after new restrictions in Europe due to a resurgence in Covid-19 cases dampened prospects of economic recovery.

U.S. Durable Goods Orders Rise 0.4% In August, Much Less Than Expected After reporting sharp increases in new orders for U.S. manufactured durable goods over the past few months, the Commerce Department released a report on Friday showing durable goods orders climbed much less than expected in the month of August. The Commerce Department said durable goods orders rose by 0.4 percent in August after soaring by an upwardly revised 11.7 percent in July.

UK Budget Deficit Widens To Record High The UK budget deficit widened to the highest on record in the financial year-to-date period reflecting the impact of the coronavirus pandemic on the public finances, with the furlough schemes alone adding GBP 56.0 billion to borrowing as subsidies paid by the central government. During April to August, public sector net borrowing was estimated to have been GBP 173.7 billion.

European Economics Preview: UK Public Sector Finance Data Due Public sector finance data from the UK is due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for August. The budget deficit is forecast to widen to GBP 35.05 billion from GBP 25.94 billion in July.