Market Analysis

Economic Diary:
Week Commencing 17/11/25


Monday 17 November

Indicator Previous Expected Actual
Industrial Production Revised Industrial Production Revised Chart 2.2% 2.6%
House Price Index Year on Year (Nationwide) House Price Index Year on Year (Nationwide) Chart 2.4%
House Price Index Month on Month (Nationwide) House Price Index Month on Month (Nationwide) Chart 0.3%
CPI Final Year on Year   1.3% 1.3% 1.3%
CPI Final Month on Month   -0.2% -0.2% -0.2%
PCE Core Price Index Year on Year PCE Core Price Index Year on Year Chart 2.9% 2.9%
Personal Income Month on Month Personal Income Month on Month Chart 0.4% 0.4%
Personal Spending Real Month on Month Personal Spending Real Month on Month Chart 0.4%
PCE Price Index Month on Month PCE Price Index Month on Month Chart 0.3% 0.3%
PCE Core Price Index Year on Year PCE Core Price Index Year on Year Chart 2.9% 2.9%
PCE Price Index Year on Year PCE Price Index Year on Year Chart 2.7% 2.8%
Personal Spending Real Month on Month Personal Spending Real Month on Month Chart 0.4%
Personal Income Month on Month Personal Income Month on Month Chart 0.4% 0.4%
PCE Core Price Index Month on Month PCE Core Price Index Month on Month Chart 0.2% 0.2%
CPI Year on Year CPI Year on Year Chart 2.4% 2.1% +2.2%
CPI BoC Core Year on Year CPI BoC Core Year on Year Chart 2.8% +2.9%
CPI Month on Month CPI Month on Month Chart 0.1% 0.2% +0.2%
Durable Goods   0.2%
Housing Starts Housing Starts Chart 1.307Mln 1.320Mln
Retail Sales Ex-Auto Month on Month   0.7% 0.3%
Trade Balance Trade Balance Chart -78.3Bln US -61.0Bln US
PPI Core Year on Year PPI Core Year on Year Chart 2.6% 2.7%
CPI Boc Core Month on Month CPI Boc Core Month on Month Chart 0.2% +0.6%
Trade Balance Trade Balance Chart -6.32Bln CA
CPI Year on Year (nsa) CPI Year on Year (nsa) Chart 3.0% 3.0%
CPI Month on Month (sa) CPI Month on Month (sa) Chart 0.3% 0.2%
PPI Final Demand Month on Month PPI Final Demand Month on Month Chart -0.1% 0.3%
Retail Sales Month on Month   0.6% 0.4%
PPI excl Food and Energy MM PPI excl Food and Energy MM Chart -0.1% 0.2%
Business Inventories Month on Month Business Inventories Month on Month Chart 0.2% 0.1%
Factory Orders Factory Orders Chart -1.3% 1.4%
Industrial Production Month on Month Industrial Production Month on Month Chart 0.1% 0.0%
New Home Sales-Units Month on Month New Home Sales-Units Month on Month Chart 0.800Mln 0.709Mln
Factory Orders Factory Orders Chart -1.3% 1.4%
Dallas Fed PCE Dallas Fed PCE Chart 2.8%

Tuesday 18 November

Indicator Previous Expected Actual
House Price Index Year on Year (Nationwide) House Price Index Year on Year (Nationwide) Chart 2.4%
House Price Index Month on Month (Nationwide) House Price Index Month on Month (Nationwide) Chart 0.3%
Personal Spending Real Month on Month Personal Spending Real Month on Month Chart 0.4%
PCE Price Index Year on Year PCE Price Index Year on Year Chart 2.7% 2.8%
PCE Core Price Index Month on Month PCE Core Price Index Month on Month Chart 0.2% 0.2%
Personal Income Month on Month Personal Income Month on Month Chart 0.4% 0.4%
PCE Core Price Index Year on Year PCE Core Price Index Year on Year Chart 2.9% 2.9%
PCE Price Index Month on Month PCE Price Index Month on Month Chart 0.3% 0.3%
House Starts Annualized House Starts Annualized Chart 279.2k 265.0k 232.8k
PPI Final Demand Month on Month PPI Final Demand Month on Month Chart -0.1% 0.3%
PPI excl Food and Energy MM PPI excl Food and Energy MM Chart -0.1% 0.2%
CPI Year on Year (nsa) CPI Year on Year (nsa) Chart 3.0% 3.0%
Housing Starts Housing Starts Chart 1.307Mln 1.320Mln
PPI Core Year on Year PPI Core Year on Year Chart 2.6% 2.7%
Durable Goods   2.9% 0.2%
Trade Balance Trade Balance Chart -6.32Bln CA
CPI Month on Month (sa) CPI Month on Month (sa) Chart 0.3% 0.2%
Retail Sales Ex-Auto Month on Month   0.7% 0.3%
Retail Sales Month on Month   0.6% 0.4%
Business Inventories Month on Month Business Inventories Month on Month Chart 0.2% 0.1%
Industrial Production Month on Month Industrial Production Month on Month Chart 0.1% 0.0%
Factory Orders Factory Orders Chart -1.3% 1.4% 1.4%
Dallas Fed PCE Dallas Fed PCE Chart 2.8%
Imports Year on Year Imports Year on Year Chart 3.3% -0.7%
Trade Balance Trade Balance Chart -234.6Bln JP -280.1Bln JP
Exports Year on Year Exports Year on Year Chart 4.2% 1.1%

Wednesday 19 November

Indicator Previous Expected Actual
RPI Year on Year RPI Year on Year Chart 4.5% 4.3% 4.3%
RPI Month on Month RPI Month on Month Chart -0.4% 0.3% 0.3%
CPI Month on Month CPI Month on Month Chart 0.0% 0.4% 0.4%
CPI Year on Year CPI Year on Year Chart 3.8% 3.6% 3.6%
PPI Core Year on Year (nsa) PPI Core Year on Year (nsa) Chart 3.6% 3.5%
PPI Core Month on Month (nsa) PPI Core Month on Month (nsa) Chart 0.1% 0.1%
House Price Index Year on Year (Nationwide) House Price Index Year on Year (Nationwide) Chart 2.4%
House Price Index Month on Month (Nationwide) House Price Index Month on Month (Nationwide) Chart 0.3%
CPI Final Month on Month CPI Final Month on Month Chart 0.1% 0.2% 0.2%
CPI Final Year on Year CPI Final Year on Year Chart 2.1% 2.1% 2.1%
Personal Spending Real Month on Month Personal Spending Real Month on Month Chart 0.4%
PCE Core Price Index Month on Month PCE Core Price Index Month on Month Chart 0.2% 0.2%
Personal Income Month on Month Personal Income Month on Month Chart 0.4% 0.4%
PCE Core Price Index Year on Year PCE Core Price Index Year on Year Chart 2.9% 2.9%
PCE Price Index Year on Year PCE Price Index Year on Year Chart 2.7% 2.8%
PCE Price Index Month on Month PCE Price Index Month on Month Chart 0.3% 0.3%
Housing Starts Housing Starts Chart 1.307Mln 1.320Mln
Retail Sales Month on Month   0.6% 0.4%
Durable Goods   2.9% 0.2%
CPI Year on Year (nsa) CPI Year on Year (nsa) Chart 3.0% 3.0%
Trade Balance Trade Balance Chart -78.3Bln US -61.0Bln US -59.6Bln US
CPI Month on Month (sa) CPI Month on Month (sa) Chart 0.3% 0.2%
Retail Sales Ex-Auto Month on Month   0.7% 0.3%
Trade Balance Trade Balance Chart -6.32Bln CA
Business Inventories Month on Month Business Inventories Month on Month Chart 0.2% 0.1%
Industrial Production Month on Month Industrial Production Month on Month Chart 0.1% 0.0%
EIA Weekly Crude Oil Stocks   6.413Mln -0.603Mln -3.426Mln
Dallas Fed PCE Dallas Fed PCE Chart 2.8%
Dallas Fed PCE Dallas Fed PCE Chart 2.8%

Thursday 20 November

Indicator Previous Expected Actual
PPI Year on Year PPI Year on Year Chart -1.7% -1.9% -1.8%
PPI Month on Month PPI Month on Month Chart -0.1% 0.0% +0.1%
House Price Index Month on Month (Nationwide) House Price Index Month on Month (Nationwide) Chart 0.3%
House Price Index Year on Year (Nationwide) House Price Index Year on Year (Nationwide) Chart 2.4%
PCE Price Index Year on Year PCE Price Index Year on Year Chart 2.7% 2.8%
PCE Core Price Index Year on Year PCE Core Price Index Year on Year Chart 2.9% 2.9%
Personal Spending Real Month on Month Personal Spending Real Month on Month Chart 0.4%
PCE Core Price Index Month on Month PCE Core Price Index Month on Month Chart 0.2% 0.2%
Personal Income Month on Month Personal Income Month on Month Chart 0.4% 0.4%
PCE Price Index Month on Month PCE Price Index Month on Month Chart 0.3% 0.3%
CPI Year on Year (nsa) CPI Year on Year (nsa) Chart 3.0% 3.0%
Philadelphia Fed Business Index Philadelphia Fed Business Index Chart -12.8 2.0 -1.7
Industrial PPI Year on Year Industrial PPI Year on Year Chart 5.5% 6.0%
Industrial PPI Month on Month Industrial PPI Month on Month Chart 0.8% 0.3% 1.5%
Non-Farm Payrolls Non-Farm Payrolls Chart -4K 53K 119K
Unemployment Rate Unemployment Rate Chart 4.3% 4.3% 4.4%
Industrial PPI Year on Year Industrial PPI Year on Year Chart 5.5% 6.0%
Industrial PPI Month on Month Industrial PPI Month on Month Chart 0.8% 0.3% 1.5%
Housing Starts Housing Starts Chart 1.307Mln 1.320Mln
CPI Month on Month (sa) CPI Month on Month (sa) Chart 0.3% 0.2%
Trade Balance Trade Balance Chart -6.32Bln CA
Business Inventories Month on Month Business Inventories Month on Month Chart 0.2% 0.1%
Industrial Production Month on Month Industrial Production Month on Month Chart 0.1% 0.0%
Existing Home Sales Existing Home Sales Chart 4.06Mln 4.08Mln 4.10Mln
Existing Home Sales Existing Home Sales Chart 4.06Mln 4.08Mln 4.10Mln
Dallas Fed PCE Dallas Fed PCE Chart 2.8%
CPI Core Nationwide Year on Year CPI Core Nationwide Year on Year Chart 2.9% 3.0% 3.0%
CPI Overall Nationwide CPI Overall Nationwide Chart 2.9% 3.0%
Imports Year on Year Imports Year on Year Chart 3.0% -0.7% 0.7%
Trade Balance Trade Balance Chart -237.4Bln JP -280.1Bln JP -231.8Bln JP
Exports Year on Year Exports Year on Year Chart 4.2% 1.1% 3.6%

Friday 21 November

Indicator Previous Expected Actual
GFK Consumer Confidence GFK Consumer Confidence Chart -17 -18 -19
Retail Sales Month on Month Retail Sales Month on Month Chart 0.5% 0.0% -1.1%
House Price Index Year on Year (Nationwide) House Price Index Year on Year (Nationwide) Chart 2.4% 1.4%
House Price Index Month on Month (Nationwide) House Price Index Month on Month (Nationwide) Chart 0.3% -0.1%
Retail Sales Year on Year Retail Sales Year on Year Chart 1.5% 1.5% 0.2%
PCE Core Price Index Month on Month PCE Core Price Index Month on Month Chart 0.2% 0.2%
PCE Price Index Month on Month PCE Price Index Month on Month Chart 0.3% 0.3%
Personal Income Month on Month Personal Income Month on Month Chart 0.4% 0.4%
Personal Spending Real Month on Month Personal Spending Real Month on Month Chart 0.4%
PCE Price Index Year on Year PCE Price Index Year on Year Chart 2.7% 2.8%
PCE Core Price Index Year on Year PCE Core Price Index Year on Year Chart 2.9% 2.9%
CPI Year on Year (nsa) CPI Year on Year (nsa) Chart 3.0% 3.0%
Retail Sales Month on Month Retail Sales Month on Month Chart 1.0% -0.7% -0.7%
Housing Starts Housing Starts Chart 1.307Mln 1.320Mln
CPI Month on Month (sa) CPI Month on Month (sa) Chart 0.3% 0.2%
Trade Balance Trade Balance Chart -6.32Bln CA
Industrial Production Month on Month Industrial Production Month on Month Chart 0.1% 0.0%
Univ Michigan Expectation Univ Michigan Expectation Chart 49.0 51.0
Univ Michigan Conditions Univ Michigan Conditions Chart 52.3 51.1
Univ Michigan Sentiment Univ Michigan Sentiment Chart 50.3 50.5 51.0
Dallas Fed PCE Dallas Fed PCE Chart 2.8%

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