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The December NFIB Small Business Optimism Index beat expectations, jumping to 105.1 from 101.7 in November. Most index subcomponents increased, led by measure of expectations, notably for the state of the economy and real sales. After jumping 39 percentage…
UK and German bonds are victims of the global bond market riots. Will European yields continue to move higher and will the euro and the pound find a floor anytime soon?
November factory orders in Germany widely missed estimates, falling by 5.4% m/m, worsening the 1.5% October decline. Excluding major orders, which often distort the overall picture, core new orders fell 1.7% y/y after growing 5.7% in October. The European…
The December ISM Services PMI beat estimates, increasing to 54.1 from 52.1 in November. All subcomponents increased except for employment, which nonetheless remains in expansion. The prices paid component was especially strong, increasing to 64.4 from 58.2.…
December euro area inflation met expectations, with headline HICP printing at 2.4% y/y from 2.2% in November, and core steady at 2.7%, above the ECB’s target. Services inflation remains elevated at 4.0% y/y, up from 3.9% a month prior. While services…
Las ofertas de empleo volvieron a superar las expectativas en noviembre, aumentando a 8,1 millones desde 7,8 millones en octubre. Sin embargo, las contrataciones y las renuncias disminuyeron y los despidos aumentaron. La brecha entre renuncias y despidos, un…
Economic data released over the holiday period extended recent trends, reflecting a softening global economy with resilient US growth, and an ailing manufacturing sector. The December global manufacturing PMI declined to 49.6 after reaching the 50 level in…
US November housing data was mixed, but still reflected a weak picture. Housing starts were down 1.8% m/m, below expectations of a 2.6% increase. However, building permits were stronger than expected, increasing 6.1%. Units under construction remain in free…
The December Empire Manufacturing index missed expectations, slowing to 0.2 from 31.2 in November. Most cyclical components eased, suggesting last month's surge was a post-election blip. The new orders subcomponent decreased, leaving the new…