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Forex Forex News from InstaForex

Discussion in 'Forex Forum' started by InstaForex Gertrude, Sep 5, 2015.

  1. InstaForex Gertrude

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    Japan Core Machine Orders Surge 18.0% In November
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    Core machine orders in Japan jumped a seasonally adjusted 18.0 percent on month, the Cabinet Office said on Thursday - coming in at 942.7 billion yen.
    That blew past expectations for an increase of 2.9 percent following the 6.0 percent slide in October.
    On a yearly basis, core machine orders climbed 5.3 percent - again exceeding expectations for a decline of 5.3 percent following the 6.1 percent fall in the previous month.
    Manufacturing orders rose 0.6 percent on month and lost 12.8 percent on year, while non-manufacturing orders surged 27.8 percent on month and 22.5 percent on year. Government orders dropped 8.7 percent on month and gained 0.2 percent on year.
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  2. InstaForex Gertrude

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    New Zealand Manufacturing PMI Slips Into Contraction
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    The manufacturing sector in New Zealand fell into contraction ion December, the latest survey from BuzinessNZ showed on Friday with a PMI score of 49.3.
    That's down from the downwardly revised 51.2 reading in November (originally 51.4) and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.
    This was a second consecutive decrease in activity, and the lowest result since September.
    Among the individual components, production and employment continued to contract, while new orders and deliveries remained in expansion but at a slower pace. Only finished stocks picked up steam.
    "The December result was disappointing," BNZ Senior Economist, Craig Ebert said. "After a couple of months flirting with positivity, the PMI dipped back just below the breakeven line again."
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  3. InstaForex Gertrude

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    Japan Rate Decision On Tap For Monday
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    The Bank of Japan will on Monday wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.
    The BoJ is widely expected to keep its benchmark lending rate unchanged at -0.1 percent, although it may introduce other means of stimulus.
    Japan also will see final November numbers for industrial production; the previous reading suggested a decline of 0.9 percent on month and 8.1 percent on year, while capacity utilization also fell 4.5 percent on month.
    China will announce January numbers for loan prime rates. The one-year loan prime rate is called at 4.1 percent, down from 4.2 percent in December. The five-year loan prime rate is expected to be unchanged at 4.8 percent.
    The central bank in Indonesia will conclude its monetary policy meeting and then announce its decision on interest rates. The bank is expected to keep its benchmark lending rate steady at 5.00 percent.
    Hong Kong will see December data for unemployment; in November, the jobless rate was 3.2 percent.
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  4. InstaForex Gertrude

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    Gold: entering new frontiers postponed, but not canceled
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    According to Credit Suisse experts, gold has good prospects for growth in 2020.
    "Despite the positive sentiment among investors amid rising stock markets, there is still uncertainty over the trade conflict between the US and China. Brexit also brings confusion. The global economy is on the verge. The situation may change in a negative direction at any moment," they said.
    Berenberg Bank has adjusted its forecast for the gold exchange rate for 2020 in the direction of its increase.
    According to the bank's calculations, the average cost of precious metals this year will be $1,525 per ounce, which is slightly lower than the current level - $ 1,560, but almost 3% higher than the previous forecast of the financial institute ($1,482 per ounce).
    Analysts at Berenberg Bank point to the volatile geopolitical situation in the world, which is the main driver of the growth of the gold exchange rate. This includes trade negotiations between the United States and China, Britain's secession from the European Union, as well as tensions between Washington and Tehran.
    The bank believes that rising inflation in the United States could create conditions for a further reduction in interest rates by the Federal Reserve, and this, in turn, will support gold.
    "Ultimately, inflation in the United States will begin to grow amid an increase in the state budget deficit and the country's trade balance, which can happen very quickly or in ten years. But in any case, it is only a matter of time. If you look at the geopolitical struggle, how many companies want to accumulate dollars? Gold in this case becomes a favorite," Saxo Bank said.
    TD Securities experts believe that the price of gold will no longer fall below $1,550 per ounce, even if the military-political conflict between the US and Iran weakens, and investors are again interested in risky assets.
    "We expect that in the near future precious metals will be traded in a narrow range. The mark of $1,600 per ounce is also becoming real, as the fundamental drivers remain valid. They will push the cost of precious metals up. The closer the US presidential election, the more expensive gold will become," they said.
    According to bank estimates, by the end of this year, an ounce of precious metal will cost $1,650.
    The hedge fund Bridgewater Associates predicts that gold will be able to gain a foothold above the level of $1,540 per ounce, and in case of escalation of political conflicts, the cost of precious metal may even exceed $2,000 per ounce.
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  5. InstaForex Gertrude

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    South Korea GDP Accelerates 1.2% In Q4
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    South Korea's gross domestic product climbed a seasonally adjusted 1.2 percent on quarter in the fourth quarter of 2019, the Bank of Korea said in Wednesday's preliminary reading.
    That beat forecasts for an increase of 1.0 percent and accelerated from the 0.4 percent gain in the three months prior.
    Real gross domestic income (GDI) increased by 0.5 percent compared to the previous quarter.
    On the expenditure side, private consumption was up by 0.7 percent, as expenditures on durable goods (e.g. motor vehicles) and services (e.g. food, recreation and culture) increased.
    Government consumption rose by 2.6 percent, with increased expenditures on goods and health care benefits.
    Construction investment expanded by 6.3 percent, as building construction and civil engineering increased.
    Facilities investment grew by 1.5 percent, led by the growth of investment in machinery (e.g. semiconductor manufacturing equipment).
    Exports fell by 0.1 percent, due to a decrease in transportation service despite an increase in machinery. Imports remained the same compared to the previous quarter, owing to decreased expenditure of resident households abroad despite increased imports of motor vehicles.
    On the production side, agriculture, forestry and fishing increased by 2.2 percent, mainly due to increased crop yields and fishery production. Manufacturing rose by 1.6 percent, mainly due to an increase in machinery and equipment.
    Electricity, gas and water supply rose by 3.9 percent, due to an increase in electricity.
    Construction expanded by 4.9 percent, owing to increases in building construction and civil engineering.
    Services grew by 0.7 percent, led by wholesale & retail trade, accommodation and food services, and human health and social work.
    On a yearly basis, GDP advanced 2.2 percent in Q4, exceeding expectations for 2.0 percent - which would have been unchanged from the previous three months.
    For all of 2019, South Korea's GDP was up 2.0 percent on year.
    On the expenditure side, while the growth of government consumption expanded, construction and facilities investment contracted as private consumption expenditure and export growth slowed.
    On the production side, the growth of manufacturing and services slowed down and construction continued to decline. Real GDI fell by 0.4 percent. As the terms of trade worsened due to factors such as a decrease in semiconductor prices, real GDI fell short of real GDP.
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  6. InstaForex Gertrude

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    Australia Unemployment Data On Tap For Thursday
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    Australia will on Thursday release December data for unemployment, highlighting a busy day in Asia-Pacific economic activity.
    The Australian economy is expected to add 11,000 jobs following the addition of 39,900 jobs in November, while the jobless rate is expected to hold steady at 5.2 percent. The participation rate is called unchanged at 66.0 percent.
    Australia also will see the inflation forecast for January; in December, the forecast suggest an increase of 4.0 percent on year.
    Japan will provide December numbers for import, exports and trade balance. Imports are tipped to slide 2.6 percent on year after plummeting 15.7 percent in November. Exports are called lower by an annual 4.2 percent after sinking 7.9 percent in the previous month. The trade balance is expected to show a deficit of 170.0 billion yen following the 82.1 billion yen shortfall a month earlier.
    Japan also will see November numbers for its all industry activity index and for its leading and coincident indexes.
    The all industry index is tipped to add 0.4 percent on month after sliding 4.3 percent in October. The previous reading for the leading index was 90.9, while the coincident was at 95.1.
    The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate steady at 5.00 percent.
    Singapore will provide December figures for consumer prices; in November, inflation was up 0.3 percent on month and 0.6 percent on year.
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  7. InstaForex Gertrude

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    Dollar Exhibits Strength Against Peers

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    The U.S. dollar gained against most major currencies on Thursday amid continued optimism about growth in the world's largest economy.
    The outbreak of the coronavirus in China and the European Central Bank's decision to hold its key rates and asset purchasing program unchanged supported dollar's rise.
    The dollar index started off on a subdued note, but gained in strength and rose to 97.80 in late morning trades before paring some gains subsequently. Still, at 97.67, the index was up 0.15% around late afternoon.
    The Euro dropped to $1.1037 after the ECB held its key interest rates, asset purchases and forward guidance unchanged and announced the launch of a review of its monetary policy strategy.
    The bank said that risks surrounding the euro area growth outlook remain tilted to the downside.
    In her post meeting press conference, Lagarde said, "The review will have to do with how we deliver, how we measure, how we communicate when it comes to decision making, publication, outreach."
    "We cannot operate as we did back in 2003, which doesn't mean to say that we have to change this, that and the other, but we have to look comprehensively at the effectiveness of our monetary policy," she added.
    The dollar is up by about 0.15% against Pound Sterling, at $1.3123.
    The yen was in demand on safe-haven appeal amid mounting worries about the impact of the coronavirus.
    The yen, which strengthened to 109.27 a dollar, was trading at 109.47 a dollar late afternoon.
    The dollar was up against Swiss franc at 0.9692 and marginally down against the loonie at 1.3127.
    Against the Aussie, the dollar was little changed with the pair trading at 1.3127.
    In U.S. economic news, data from the Labor Department showed first-time claims for U.S. unemployment benefits rose to 211,000, an increase of 6,000 from the previous week's revised level of 205,000.
    Economists had expected jobless claims to climb to 215,000 from the 204,000 originally reported for the previous week.
    The Conference Board released a report showing a slightly bigger than expected decrease by its index of leading U.S. economic indicators.
    The Conference Board said its leading economic index fell by 0.3% in December after inching up by a revised 0.1% in November.
    Economists had expected the leading economic index to dip by 0.2% compared to the unchanged reading originally reported for the previous month.
    Traders were also tracking news about the coronavirus outbreak in China that has spread from Wuhan to several Chinese provinces.
    According to reports, deaths from the virus rose to 17 on Wednesday, with nearly 600 cases confirmed. Market participants remain worried about the contagion as the week-long Lunar New Year holidays starts on Friday, when millions of Chinese travel domestically and abroad.
    The World Health Organization said today that it is still too early to declare the outbreak a Public Health Emergency of International Concern has somewhat eased worries about the virus a bit.
    "Make no mistake, this is an emergency in China. But it has not yet become a global health emergency," said WHO Director-General Tedros Adhanom Ghebreyesus.
    "At this time, there is no evidence of human-to-human transmission outside China, but that doesn't mean it won't happen," Tedros said.

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  8. InstaForex Gertrude

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    Economic Calendar Is A Blank Slate On Monday

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    There's no economic data on the slate for Monday, with most countries in the Asia-Pacific region celebrating the lunar New Year holiday.
    Most of the regional stock are also closed for the holiday, including South Korea, Malaysia, Singapore, Taiwan, China, Hong Kong and Indonesia, among others.

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  9. InstaForex Gertrude

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    Japan Producer Prices Hold Steady At 2.1% In December
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    Producer prices in Japan were up 2.1 percent on year in December, the Bank of Japan said on Tuesday - in line with expectations and unchanged from the previous month.
    Producer prices were flat on month after adding 0.2 percent in November.
    Among the individual components, prices were up for transportation, communications, finance and insurance. Prices were down for advertising and security services.
    For all of 2019, producer prices were up 1.1 percent on year - slowing slightly from the 1.2 percent annual increase in 2018.
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  10. InstaForex Gertrude

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    Australia Q4 Export Prices Slide 5.2% On Quarter
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    Export prices in Australia were down 5.2 percent on quarter but rose 4.1 percent on year in the fourth quarter of 2019, the Australian Bureau of Statistics said on Thursday.
    Main contributors to the fall included Metalliferous ores and metal scrap (-9.1 percent); coal, coke and briquettes (-14.7 percent); and gas, natural and manufactured (-2.3 percent). Those offset rises in meat and meat preparations (+6.9 percent).
    Import prices were up 0.7 percent on quarter and 1.4 percent on year in Q4.
    Main positive contributors included petroleum, petroleum products and related materials (+3.8 percent); machinery specialized for particular industries (+1.6 percent); and road vehicles (including air-cushion vehicles) (+0.4 percent).
    Those offset falls in fertilizers (excluding crude) (-6.5 percent); and plastics in non-primary forms (-5.5 percent).
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  11. InstaForex Gertrude

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    China Manufacturing PMI 50.0 In January
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    The manufacturing sector in China fell into stagnation in January, the latest survey from the National Bureau of Statistics said on Friday - posting a manufacturing PMI score of 50.0.
    That's down from 50.2 in December, and it now sits right on the line that separates expansion from contraction. It matched expectations.
    The bureau also said its non-manufacturing index came in with a score of 54.1, beating forecasts for 53.0 and up from 53.5 in the previous month.
    The bureau's composite index now sits at 53.0, down from 53.4 a month earlier.
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  12. InstaForex Gertrude

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    Australia Building Approvals Sink 0.2% In December

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    The total number of building approvals in Australia issued in December was down a seasonally adjusted 0.2 percent on month in December, the Australian Bureau of Statistics said on Monday - coming in at 14,752.

    That exceeded expectations for a decline of 5.0 percent following the 10.9 percent jump in November.
    On a yearly basis, building approvals advanced 2.7 percent - exceeding expectations for a drop of 1.4 percent following the .8 percent slide in the previous month.

    Consents for private sector houses fell 0.1 percent on month and 7.1 percent on year to 8,486 - while consents for private sector dwellings excluding houses eased 0.1 percent on month and surged 19.4 percent on year to 6,087.

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  13. InstaForex Gertrude

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    New Zealand Building Permits Surge 9.9% In December

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    The total number of building permits issued in New Zealand was up a seasonally adjusted 9.9 percent on month in December, Statistics New Zealand said on Tuesday - coming in at 2,910.
    That follows the upwardly revised 8.4 percent drop in November (originally -8.5 percent).
    On a yearly basis, building permits spiked 14.0 percent to 37,538.
    The annual value of non-residential building work consented was NZ$7.5 billion, up 5.2 percent from the December 2018 year.

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  14. InstaForex Gertrude

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    Japan Services PMI Ebbs In January - Jibun Bank

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    The services sector in Japan continued to expand in January, albeit at a slower rate, the latest survey from Jibun Bank revealed on Wednesday with a PMI score of 51.0.

    That's down from 52.1 in December, although it remain further above the boom-or-bust line of 50 that separates expansion from contraction.

    Individually, business activity growth was at a four-month high, although business confidence fell to a 29-month low.

    Demand conditions improved somewhat, and employment rose further.

    Also, the bank's composite index came in at 50.1 - down from 51.1 in the previous month.

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  15. InstaForex Gertrude

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    Japan Leading Index Data Due On Friday

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    Japan is on Friday scheduled to release preliminary December figures for its leading and coincident indexes, highlighting a modest day for Asia-Pacific economic activity. The leading index is tipped to show a score of 91.3, up from 90.8 in November. The coincident is called steady at 94.7.
    Japan also will see December figures for household spending and labor cash earnings. Household spending is tipped to fall 1.6 percent on year after sliding 2.0 percent in November. Labor cash earnings are called lower by an annual 0.1 percent after easing 0.2 percent a month earlier.
    Australia will see January results for the Performance of Service Index from the Australian Industry Group; in December, the index score was 48.7.
    Malaysia will release December numbers for industrial and manufacturing production; in November, they were up an annual 2.0 percent and 2.5 percent, respectively.

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  16. InstaForex Gertrude

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    Australia Home Loan Data Due On Tuesday

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    Australia will on Tuesday release December numbers for new home loans, setting the pace for a modest day in Asia-Pacific economic activity.
    Loans are expected to rise 1.6 percent on month, slowing from 1.8 percent in November. Investment lending is also seen higher by 1.6 percent on month, down from 2.2 percent in the previous month.
    Australia also will see January results for the indexes of business confidence and conditions from NAB; in December, their scores were -2 and +3, respectively.
    Finally, the markets in Japan are closed on Tuesday in observance of National Day and will reopen on Wednesday.

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  17. InstaForex Gertrude

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    New Zealand January Overall Credit Card Spending Rises 0.3%

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    The total value of credit card spending in New Zealand added a seasonally adjusted 0.3 percent on month in January, Statistics New Zealand said on Wednesday.
    That was in line with expectations following the 0.6 percent decline in December.
    Retail credit card spending fell 0.1 percent on month, missing expectations for an increase of 0.5 percent following the 0.8 percent drop in the previous month.
    "Retail card spending has slowed over the last couple of months on the back of a very strong November month," retail statistics manager Sue Chapman said. "The industries that fell this month compared with December had falls that were quite small, with values only falling by NZ$11 million or less."
    Spending in the core retail industries (which excludes automotive industries) was down 0.2 percent.
    The non-retail (excluding services) category was up NZ$37 million (2.1 percent), and the services category fell NZ$0.8 million (0.3 percent) in January 2020.
    By industry, the movements were: fuel, up NZ$8.7 million (1.5 percent); durables, up NZ$4.1 million (0.3 percent); motor vehicles (excluding fuel), up NZ$1.1 million (0.6 percent); apparel, down NZ$1.0 million (0.3 percent); consumables, down NZ$6.9 million (0.3 percent); and hospitality, down NZ$11 million (1.0 percent).
    In actual terms, cardholders made 158 million transactions across all industries in January 2020, with an average value of NZ$50 per transaction. The total amount spent using electronic cards was NZ$8.0 billion.

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  18. InstaForex Gertrude

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    Japan Producer Prices Rise 0.2% In January

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    Producer prices in Japan were up 0.2 percent on month in January, the Bank of Japan said on Thursday.
    That exceeded expectations for a flat reading following the 0.1 percent increase in December.
    On a yearly basis, producer prices jumped 1.7 percent - again beating forecasts for 1.5 percent and up sharply from 0.9 percent in the previous month.
    Export prices were up 0.3 percent on month and down 1.4 percent on year, the bank said, while import prices gained 0.7 percent on month and fell 0.7 percent on year.

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    New Zealand Food Prices Rise 0.6% On Month In January

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    Food prices in New Zealand were up a seasonally adjusted 0.6 percent on month in January, Statistics New Zealand said on Friday.
    Unadjusted, food prices gained 2.1 percent.
    On a monthly basis, fruit and vegetable prices rose 3.7 percent (down 0.3 percent after seasonal adjustment); while meat, poultry, and fish prices rose 2.3 percent; grocery food prices rose 2.4 percent (up 1.3 percent after seasonal adjustment); non-alcoholic beverage prices rose 3.9 percent; and restaurant meals and ready-to-eat food prices rose 0.2 percent.
    On a yearly basis, food prices were up 3.56 percent in January.

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  20. InstaForex Gertrude

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    Japan GDP Falls 6.3% On Year In Q4

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    Japan's gross domestic product was down an annualized 6.3 percent in the fourth quarter of 2019, the Cabinet Office said in Monday's preliminary report.
    That was well shy of expectations for a decline 3.8 percent following the 0.5 percent increase in the three months prior.
    On a seasonally adjusted quarterly basis, GDP sank 1.6 percent - again missing forecasts for a decline of 1.0 percent following the 0.1 percent gain in the third quarter.
    Nominal GDP was down 1.2 percent on quarter, missing expectations for a drop of 0.6 percent after gaining 0.6 percent in the previous three months.
    The GDP deflator was up 1.3 percent on year in Q4, the Cabinet Office said - exceeding expectations for an increase of 1.1 percent and up from 0.6 percent in the three months prior.
    Business spending skidded 3.7 percent on quarter, missing forecasts for a decline of 1.6 percent following the 0.5 percent increase in the third quarter.
    Private consumption sank 2.9 percent on quarter, missing forecasts for a drop of 2.0 percent following the 0.5 percent gain in the previous three months.

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