Global Economic News


ukunemployment dec17 25nov20 UK Chancellor of the Exchequer Rishi Sunak on Wednesday boosted spending on infrastructure and plans to create jobs for the unemployed as official forecasts pointed to the worst economic contraction in over 300 years due to the impact of the coronavirus pandemic.

personal income 112520 The Commerce Department released a report on Wednesday showing a decrease in U.S. personal income in the month of October. The report said personal income fell by 0.7 percent in October after climbing by a downwardly revised 0.7 percent in September.

us consumer 112520 Revised data released by the University of Michigan on Wednesday showed consumer sentiment in the U.S. deteriorated by slightly more than expected in the month of November. The report said the consumer sentiment index for November was downwardly revised to 76.9 from a preliminary reading of 77.0.

new home sales 112520 New home sales in the U.S. unexpectedly edged lower in the month of October, according to a report released by the Commerce Department on Wednesday. The Commerce Department said new home sales dipped by 0.3 percent to an annual rate of 999,000 in October after inching up by 0.1 percent to a revised rate of 1.002 million in September.

durable goods 112520 New orders for U.S. manufactured durable goods increased by more than expected in the month of October, the Commerce Department revealed in a report on Wednesday. The Commerce Department said durable goods orders jumped by 1.3 percent in October after spiking by 2.1 percent in September. Economists had expected durable goods orders to climb by 0.9 percent.

jobless claims 112520 Fist-time claims for U.S. unemployment benefits unexpectedly increased in the week ended November 21st, according to a report released by the Labor Department on Wednesday. The report said initial jobless claims climbed to 778,000, an increase of 30,000 from the previous week's revised level of 748,000.

preview oct24 25nov20 UK Chancellor Rishi Sunak is set to unveil spending review for the financial year 2021-22 on Wednesday. Due to uncertainty caused by the coronavirus pandemic, Sunak has reduced the review period to one year from three years. The announcement is due at 7.00 am ET.

The total value of construction work done in Australia was down a seasonally adjusted 2.6 percent on quarter in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.179 billion. That missed expectations for a fall of 2.0 percent following the 0.7 percent...

Australia will on Wednesday release Q3 numbers for construction work done, highlighting a light day for Asia-Pacific economic activity. Work is expected to fall 2.0 percent on quarter after easing 0.7 percent in the three months prior. Thailand will provide October figures for industrial production;...

Business Confidence in South Korea improved in November, the latest survey from the Bank of Korea showed on Wednesday with an index score of 85.0 - up from 79.0 in October. The outlook for the following month also rose by 5 points to 81. In the non-manufacturing sector, the index on business conditions...

germanyifo july25 24nov20 German business sentiment deteriorated in November as companies were more pessimistic about future amid the second wave of coronavirus infections interrupting the economic recovery, survey results released by the Munich-based ifo Institute showed on Tuesday. The business climate index fell to 90.7 in November from revised 92.5 in the previous month.

germany may25 24nov20 Following the relaxation of Covid-19 restrictions, the German economy rebounded at a faster than expected pace in the third quarter, offsetting a large part of the massive contraction in the second quarter, revised data from Destatis revealed on Tuesday. Gross domestic product grew 8.5 percent sequentially in the third quarter, reversing the 9.8 percent decline in the second quarter caused by the

preview oct26 24nov20 Business confidence survey results and revised quarterly national accounts from Germany are due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's revised quarterly GDP data for the third quarter. The economy is forecast to grow 8.2 percent sequentially, as initially estimated.

Hong Kong will on Tuesday release October figures for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity. In September, imports were up 3.4 percent on year and exports rose an annual 9.1 percent for a trade deficit of HKD12.7 billion. The Philippines...

ukpmi aug03 23nov20 The UK private sector contracted the most in six months in November due to the fastest reduction in service sector output since May amid temporary closures among leisure and hospitality companies, flash survey results revealed Monday. The IHS Markit/Chartered Institute of Procurement & Supply composite output index dropped to 47.4 in November from 52.1 in October.

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