The markets were kept busy yesterday as last night’s Fed statement was dissected, the UK released their GDP numbers and the US posted December’s Durable Goods Orders. Firstly, The UK showed an improvement on the third quarter figure, meeting expectations and posting a reading of 0.5%, whilst annual growth in 2015 was down to 2.2% compared to 2.9% in 2014. Despite the annual pace of growth being the slowest for three years, the UK still remains one of the fastest growing developed nations.
Across the pond, the US released both Durable Goods and Unemployment claims yesterday. Orders for durable, or long lasting goods fell 5.1% in December. The decline was released after a 12.4% plunge in transportation orders as the reading registered at -1.2%. Simultaneously, the US released their jobless claims number. Unemployment Claims posted a slightly better than expected 278k as the labour market in the US continues to improve.
Inflation is once again in the spotlight as the yearly figure is set for release from the Eurozone, it is forecast to post a slightly better 0.4%. The US then post their first reading of GDP for Q4 after lunch which is then followed by the Chicago PMI release.