The Italian bond market sold off in end of year trading as Italian investors began to think ahead to 2018 elections. Silvio Berlusconi is in the news again and extoling the virtues and standing of his party as the main rival to the [...]
- Global| Dec 29 2017
Italian Confidences Hold Strong at Yearend and 2018 Beckons
- Global| Dec 28 2017
Chicago Purchasing Managers Index Reaches Highest in Nearly 7 Years
The Chicago Purchasing Managers Business Barometer for December rose 3.7 points to 67.6 from 63.9 in November. December's result was up 10 points from December 2016 and was the strongest reading since March 2011. A decline to 62.7 had [...]
- Global| Dec 28 2017
Japan's IP Puts in Another Good Month But Does Not Turn the Trend
Despite another solid month of IP expansion, IP trends in Japan remain under pressure. Sequential growth rates show no clear pattern. Output generally expands fast in Japan over six months that it has over 12-months. But output also [...]
- Global| Dec 28 2017
U.S. Initial Claims for Unemployment Insurance Steady in Dec. 23 Week
Initial unemployment insurance claims were steady at 245,000 (-5.0% y/y) in the week ended December 23. Expectations in the Action Economics Forecast Survey had been for 240,000 claims. The four-week moving average edged higher to [...]
- Global| Dec 27 2017
U.S. Pending Home Sales Edge Higher in November
The National Association of Realtors (NAR) reported that pending home sales increased 0.2% (0.8% y/y) during November to an index level of 109.5 (2001=100). This followed their 3.5% jump in October. Sales were 3.6% below their recent [...]
- Global| Dec 27 2017
Spain's Retail Sales Gain But Are a Long Way from Past Levels
It is always good to maintain some perspective. Spain's retail sales are expanding and sequentially accelerating for nominal sales as well as for real sales. But the sense of acceleration is modest, especially for real sales. Two [...]
- Global| Dec 27 2017
U.S. Consumer Confidence Slackens with Softer Expectations
The Conference Board Consumer Confidence Index fell 5.1% in December (7.8% y/y) to 122.1 following a downward revised 1.9% rise in November. This move contrasted with the Action Economics survey forecast of 128.0. The indexes are [...]
- Global| Dec 22 2017
U.S. Durable Goods Orders Recover as Aircraft Rebounds
New orders for durable goods rebounded somewhat in November, 1.3% (8.2% y/y), after October's 0.4% decline; that was revised from -1.2% reported initially. Market expectations, evidenced in the Action Economics Forecast Survey, had [...]
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