Economy.com Daily Update: November 16, 2018

Today's Economy

Core inflation finally rose in October, allowing the central bank to continue with plans to end QE this year.

Manufacturing output rose 0.3% in October even with auto production dropping.

Manitoba's economy is slowing, but Winnipeg is outperforming.

Annual GDP growth in Malaysia and Hong Kong hit its slowest pace in two years in the third quarter.

Commentary

GDP results for Germany should confirm the country's economy fared badly in the third quarter.

There could be free trade in goods but limited services access to the single market.

Economy remains in a sanguine spot despite rising downside risks.

Chile, Mexico and Peru will report economic moderation.

Today's Economic Indicators

Hong Kong
GDP
2018Q3: 0.1%
Hong Kong's GDP growth rose just 0.1% q/q in the September quarter, following the 0.2% contraction in the June quarter.

Euro Zone
Consumer Price Index
Oct. 2018: 2.2%
Final numbers confirmed that euro zone inflation rose to 2.2% in October, from 2.1% in September.

Italy
Consumer Price Index
Oct. 2018: 1.7%
Italy’s annual harmonized EU inflation rose to 1.7% y/y in October, up from a 1.5% gain in September.

Russian Federation
Industrial Production
Oct. 2018: 3.7%
October industrial production in the Russian Federation rose 3.7% compared with October a year ago, the strongest year-on-year improvement since July.

Canada
International Transactions in Securities
Sep. 2018: C$7.7 bil
Foreign investment in Canadian financial assets picked back up in September, but the gain was insufficient to turn around a poor third quarter.

Canada
Survey of Manufacturing
Sep. 2018: 0.2%
Manufacturing inched up in September, bouncing back from a decline in August.

United States
Industrial Production
Oct. 2018: 0.1%
Industrial production advanced 0.1% in October, marking its fifth consecutive gain.

United States
Regional and State Employment
Oct. 2018:
There were no big surprises in the regional and state labor market results for October, which, similar to the national results, showed a strong labor market early in the fourth quarter.

United States
Kansas City Fed Manufacturing Survey
Nov. 2018: 15
Manufacturing conditions took a solid step forward in November, with the composite index increasing to 15, up from 8 in October.

United States
Treasury International Capital Flows
Sep. 2018: $30.8 bil
Net long-term flows slowed in September.