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December 19, 2025
Euro traded at 1.1717 against USD at 9:00 AM PST
The declining trend in German producer prices deepened in November amid cheaper energy costs. Producer prices for industrial products dropped 2.3% year-on-year in November, faster than the 1.8% fall in the prior month. Moreover, this was the quickest decline since April 2024, when prices decreased 3.3%.
A 9.0% plunge in energy prices largely drove the decline in November amid cheaper costs for natural gas and electricity. Meanwhile, prices for capital goods were 1.9% costlier compared to last year, and those for non-consumer goods climbed by 1.3%. Prices for durable consumer goods were 1.8% higher.
Excluding energy, producer prices increased 0.8% year-over-year but declined 0.1% from the previous month. Month-on-month, producer prices remained flat in November, following a 0.1% rise in October. 12/19/2025 - 09:03:00 (RTTNews)
France's producer prices increased for the first time in four months in November. Producer prices in the domestic market rose 1.1% monthly, following a flat change in October. Further, this was the fastest growth in one year.
Prices of mining and quarrying products, energy, and water rebounded 3.7% after falling 0.5%. Similarly, prices for manufactured products rose 0.3% versus a 0.1% drop in October.
Yearly, producer prices in the home market decreased at a faster pace of 3.3% in November versus a 0.8% decline in October. The annual decline in overall producer prices deepened to 2.5% from 2.0%. Monthly, total producer price inflation eased to 0.6% in November from 0.9% a month ago. 12/19/2025 - 08:08:00 (RTTNews)
Italy's current account surplus increased in October from the previous year, the Bank of Italy reported Friday. The current account surplus rose to EUR 3.5 billion in October from EUR 3.3 billion in the corresponding month last year.
The capital account surplus rose to EUR 585 million in October from EUR 479 million. The financial account surplus rose notably to EUR 11.3 billion from EUR 1.5 billion in October 2024. Meanwhile, the goods trade surplus shrank to EUR 4.1 billion from EUR 4.5 billion, and the deficit in services trade widened slightly to EUR 1.34 billion from EUR 1.33 billion.
The primary income balance showed a surplus of EUR 2.2 billion, up from EUR 1.2 billion. On the other hand, the shortfall in secondary income widened to EUR 1.4 billion from EUR 1.1 billion. In the twelve months ending in October, the current account surplus came in at EUR 28.9 billion, equivalent to 1.3% of GDP, compared to EUR 25.9 billion in the corresponding period last year. 12/19/2025 - 07:52:00 (RTTNews)
Italy's consumer confidence showed some resilience at the end of the year, while composite business confidence improved further to the highest level in nearly two years. Consumer sentiment rose to 96.6 in December from 95.0 in the previous month. Nonetheless, a score below 100 indicates lower confidence.
All components of the index are improving except for assessments of Italy's economic situation and the opportunity to save money at the current time. The economic climate index climbed to 97.0 in December from 96.5 in November, and the future climate improved from 91.6 to 90.2. Meanwhile, the index measuring the personal climate increased to 96.4 from 94.5, and the current climate index turned optimistic and rose to 100.2 from 98.6 in the prior month.
The composite business confidence index climbed to 96.5 in December from 96.1 in November. Further, this was the highest score since March 2024, when it was 97.1. The rise in the index was driven by the market services sector, where morale strengthened to 100.0 from 97.8. The retail sector confidence was almost unchanged at 107.2 versus 107.3 in November, while the manufacturing confidence index fell to 88.4 from 89.5. 12/19/2025 - 06:08:00 (RTTNews)
British Pounds traded at 1.3374 against USD at 9:00 AM PST
The U.K. budget deficit hit its lowest for the month of November in four years. Public sector net borrowing decreased to GBP 11.7 billion in November from GBP 13.6 billion in the previous year. This was the lowest November borrowing since 2021.
In November, borrowing to fund day-to-day public sector activities totaled GBP 5.6 billion, which took the total such borrowing in the financial year to November to GBP 93.0 billion. In the financial year to November, the government borrowed GBP 132.3 billion, which was GBP 10.0 billion more than in the same eight-month period in 2024. This was the second-highest financial year to November borrowing since monthly records began in 1993.
Public sector net debt excluding public sector banks was estimated at 95.6% of GDP at the end of November. 12/19/2025 - 05:48:00 (RTTNews)
U.K. retail sales dropped in November as the Black Friday shopping event had a slightly weaker impact than usual. Retail sales dropped marginally by 0.1% in November from a month ago. The decline confounded expectations for an increase of 0.3% but this was slower than October's 0.9% decrease.
Excluding auto fuel, retail sales slid 0.2% after falling 0.8% in the previous month. Food store sales decreased 0.5% in November from last month. Meanwhile, non-food store sales increased 1.0%. Non-store retailers' volume declined as demand for gold slowed, while supermarkets dropped for the fourth consecutive month.
Yearly, retail sales logged steady growth of 0.6% in November. Excluding auto fuel, retail sales growth eased to 1.2% from 1.6% in the prior month. In the three months to November, sales volume increased 0.6% from the preceding three months. This was partly due to strong clothing sales in September. Online sales rose 0.7% over the month to November 2025, and by 8.3% compared with November 2024.
The consumer confidence index rose to -17 from -19 in the previous month. The reading was the highest since August 2024. 12/19/2025 - 05:31:00 (RTTNews)
The Bank of Japan raised its benchmark rate by a quarter-point to the highest level in three decades as inflation continued to remain above the target and hinted at further rate hikes. The policy board, headed by Ueda Kazuo, decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75%" from "around 0.5%." The interest rate has reached its highest level since 1995.
Previously, the BoJ lifted the benchmark rate by 25 basis points in January 2025. Real interest rates are expected to remain significantly negative after the change in the policy rate, and accommodative financial conditions will continue to support economic activity firmly, the bank said.
If economic activity and prices develop as estimated in October, the BoJ will continue to raise the policy rate and adjust the degree of monetary accommodation, the bank said. However, the statement provided no hints about the timing and magnitude of the rate hike.
The mechanism by which both wages and prices rise moderately will likely be maintained. The bank views that firms are likely to continue to lift wages steadily next year, following the solid wage increase this year.
The possibility of CPI inflation being at a level that is generally consistent with the price stability target of 2% in the second half of the projection period of the October 2025 Outlook report has been rising, the board observed. 12/19/2025 - 06:36:00 (RTTNews)
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