The other day, the Office for National Statistics, the UK’s official statistics agency, released another UK unemployment report for Q3 2016. The actual figures came it at 4,8%, thereby matching the forecast. By the way, this is the lowest rate of unemployment since 2005.
Still, the amount of employed people UK citizens by 6000 people. This indicates that the employment growth is slowing down. Household incomes showed an increase by 2.6% over the same reporting period, which turned out to be 0.1% higher than expected.
As for jobless claims, the amount of claims increased up to 24K units in November if adjusted for seasonality. However, it didn’t exceed expectations. At the same time, the Office for National Statistics reports that consumer prices in the United Kingdom increased all the way up to a new major high. To be more specific, they increased by 1.2% y/y and reached 13%, which is the highest level since November 2011. Month over month, the index grew by 0.2%. The key reasons for higher consumer prices are more expensive household appliances and clothes.
The CBI index for December reached 0 as opposed to November’s -3. This is the 24-month high. By the way, the index is used to evaluate the current business conditions in the UK. The zero value may indicate optimism among the representative of the British industrial sector.
FOREX
If to take a look at the GDPUSD chart through the eyes of the SRP tool, courtesy of the SRP Department of Masterforex-V Academy, we can see that the price is still unfolding the same major bullish retracement against a long-term downtrend. This retracement is of level Daily – Weekly.
