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Early Morning Call - December 1, 2023

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Nationwide house price index unexpectedly rises in November

European equity markets opened Friday’s session higher after US indices posted best monthly performance in over a year. In Japan, unemployment rate fell to 2.5% in October from 2.6% the previous month, recording a second consecutive month of improvement. China Caixin PMI unexpectedly rose to 50.7 in November from a 49.5 reading in October, the fastest expansion in three months.

The Nationwide house price index unexpectedly rose in November. Month-on-month, the index rose 0.2%, when economists expected a 0.4% decline. Already in October, the Nationwide saw a surprise 0.9% lift in house prices which it attributed to a scarcity in property on the market.

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