The infoshot to help kick-start your week
- US inflation came in higher than expected in December with it reaching 3.4 per cent for the year. This was higher than the 3.2 per cent expected by Economists and above the 3.1 per cent seen in November. US stocks fell slightly in response to the higher headline inflation as it reduced expectations that the Fed would cut rates in March.
- The UK economy rebounded more than expected in November as a result of strong service sector growth. GDP rose 0.3 per cent between October and November which was stronger than the 0.2 per cent expansion expected by economists. The ONS noted that the rebound in GDP was largely helped by strong retail, car leasing and computer game sales during the month.
- Oil prices rose above $80 a barrel for the first time in 2024 on Friday as a result of military strike in Yemen. The strikes carried out from the US and UK follow more than 25 attacks on shipping in the Red Sea from Houthi militants. As a result of those attacks, oil tanker operations are having to avoid the region which is likely to add time and costs to shipment.
- UK December CPI data released, 17th January 2024 at 7:00am.
- EU December CPI data released, 17th January 2024 at 10:00am.
- US initial jobless claims data released, 18th January 2024 at 1:30pm.
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