Consumer sentiment in the U.S. rebounded by less than previously estimates in the month of December, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for December was downwardly revised to 52.9 from a preliminary reading of 53.3. Economists had expected the index to be upwardly revised to 53.4.
Existing home sales in the U.S. saw a modest increase in the month of November, the National Association of Realtors revealed in a report released on Friday. NAR said existing home sales rose by 0.5 percent to an annual rate of 4.13 million in November after jumping by 1.5 percent to an upwardly revised rate of 4.10 million in October.
Russia's central bank cut its interest rate by 50 basis points on Friday but reiterated that it will maintain policy tight to bring inflation back to the target. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate to 16.00 percent from 16.50 percent. The decision matched market expectations. The bank has lowered the interest rate by 400 basis points since Jun
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 hikes. The policy board, headed by Ueda Kazuo decided, by a unanimous vote, to hike the uncollateralized overnight call rate to "around 0.75 percent" from "around 0.5 percent."
UK retail sales dropped unexpectedly in November as the Black Friday effect was slightly weaker than usual, data from the Office for National Statistics showed Friday. Retail sales dropped marginally by 0.1 percent in November from a month ago. The decline confounded expectations for an increase of 0.3 percent but this was slower than October's 0.9 percent decrease.
The Japanese yen weakened against other major currencies in the European session on Friday, after the Bank of Japan raised its benchmark rate by a quarter-point as inflation remains stubbornly above the target. The policy board decided to hike the uncollateralized overnight call rate to "around 0.75...
German consumer confidence is set to drop at the start of the year 2026 as rising inflation fears weigh on income expectations and purchase decisions, monthly survey data published jointly by NIQ/GfK and the Nuremberg Institute for Market Decisions showed Friday. The forward-looking consumer confidence index fell to -26.9 in January from revised -23.4 in December.
Retail sales and public sector finance from the UK and consumer sentiment from Germany will be in the spotlight on Friday. At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector finance data. Sales are forecast to grow 0.3 percent on a monthly basis in November, in contrast to the 1.1 percent drop in October.
The European Central Bank left its key interest rate unchanged for the fourth policy session in a row and raised the growth forecasts for the euro area citing support from domestic demand, but the bank also lifted the inflation projection for next year as policymakers expect services inflation to ease more slowly than expected earlier.
A report released by the Federal Reserve Bank of Philadelphia on Thursday unexpectedly showed a notable decrease by its reading on regional manufacturing activity in the month of December. The Philly Fed said its diffusion index for current general activity slumped to a negative 10.2 in December from a negative 1.7 in November, with a negative reading indicating contraction.
The annual rate of growth by consumer prices has unexpectedly slowed, according to data released by the Labor Department on Thursday. The Labor Department said consumer prices in November were up by 2.7 percent compared to the same month a year ago. The year-over-year price growth in November reflects a notable slowdown from the 3.0 percent surge in September.
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits declined roughly in line with economist estimates in the week ended December 13th. The Labor Department said initial jobless claims fell to 224,000, a decrease of 13,000 from the previous week's revised level of 237,000. Economists had expected jobless claims to slip to 225,000.
The Bank of England lowered its benchmark rate for the fourth time this year as inflation is expected to fall back towards the target more quickly in the near term and signaled further reductions next year. The Monetary Policy Committee, governed by Andrew Bailey, voted 5-4 to reduce the bank rate by 25 basis points to 3.75 percent, which was the lowest since early 2023.
UK inflation slowed more than expected in November, strengthening the call for an interest rate reduction this week, official data revealed on Wednesday. The consumer price index rose 3.2 percent year-on-year, slower than the 3.6 percent increase in October, the Office for National Statistics said. Inflation was forecast to ease marginally to 3.5 percent.
German business confidence deteriorated to a seven-month low in December as companies were more pessimistic about the first half of next year, survey data from the Munich-based ifo Institute showed on Wednesday. The business climate index dropped to 87.6 in December from 88.0 in November. The score was expected to rise to 88.2.
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.