Financial News

Eurozone manufacturing sees improved PMI and new orders, yet faces sharp job cuts and uneven recovery across economies.

Domestic demand supported the Chinese manufacturing sector, showing the influence of Beijing stimulus measures amid a weak global demand backdrop.

The report noted that mortgage rates have declined in recent weeks, which may boost activity in the housing market.

October saw the U.S. PCE index rise slightly, indicating stable inflation alongside modest growth in income and spending.

The UK’s debt-to-GDP ratio is set to rise above official forecasts given continued pressure for more spending unless future governments raise revenues, reduce the welfare state or significantly improve growth.

Strategic Petroleum Reserve increased to 351.6 million bpd as U.S. started to buy oil for reserves after the strong pullback.

Q3 2023 sees US GDP grow 5.2%, driven by investment, spending, and stable inflation, boosting economic outlook.

The report indicated that consumers remained preoccupied with rising prices.

The S&P CoreLogic Case-Shiller and FHFA Indices report a continued rise in US housing prices.

New Home Sales fell in October as high mortgage rates put pressure on buyers.

Composite PMI remained unchanged as service providers enjoyed a fractional uptick in the rate of output growth.

November’s Ifo Index at 87.3 shows a modest rise in German business sentiment, hinting at cautious economic optimism.

The German economy contracted by 0.1% quarter-on-quarter in Q3, in line with the preliminary report. However, year-over-year figures were weaker.

The report marked a fourth consecutive month of declines in consumer sentiment.

October’s durable goods orders fell 5.4%, more than expected, while jobless claims dropped to 209,000, showing labor market strength.”

Climate and demographic risks have an important if moderate impact on public debt trajectories for most EU countries but become increasingly credit-rating relevant and mutually reinforcing in the long run.

ECB review highlights Euro area’s financial risks, tight financing strains, and banks’ profitability challenges amid market corrections.

On Tuesday, Binance Founder Changpeng Zhao confirmed his exit as CEO. While a successor has been announced, the market sentiment remains pensive. 

Fed expects that data arriving in coming months would help clarify the extent to which disinflation process was continuing.

The constitutional court ruling underlines Germany’s strong fiscal framework but complicates the government’s ability to address persistent under-investment of around EUR 300bn over the past decade.