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On Wednesday we saw positive news came from the United States with producer prices increasing by 0.2% in the previous month, which was in line with the expectations. It has offered an offset to a small decline in prices for goods. In addition, the core PPI rose 0.4% in September which is the highest increase since the beginning of the year.
Another positive news came from the UK where the UK economy rebounded in the 3 months to August and according to the ONS (Office of National Statistics), the economy grew 0.7 percent, picking up from the 0.6 percent expansion in the 3 months to July. In the report, the retail trade and wholesale showed strong growth due to the weather being warmer than usual in the summer months. As per the ONS head of GDP, Rob Kent-Smith, stronger economic rebound is supported by a positive performance of retail, food and drink production, as well as the house building, but the long-term growth still continues to lag behind the historical trend.
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