Economy by the week - 25th Nov
Here are the key economic developments for the week:
- The number of new house constructions jumped 3.8% in October.
- Existing home sales rose 1.9% in October, according to National Association of Realtors.
- The Conference Board Leading Economic Index declined in October.
- Initial jobless claims remained unchanged at 227,000 in the week ended November 16, 2019, according to the Labor Department.
- As of Nov. 11, 2019, 457 S&P 500 Index companies reporting third-quarter earnings, 341 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The University of Michigan’s index of consumer sentiment rose to 96.8 in November from 95.5 in October.
- Construction output rose 0.7% in the EA inSeptember. (Eurostat)
- The European Commission’s Flash Consumer Confidence Indicator for the EA
increased in November.
- The Flash Eurozone PMI Composite Output Index slipped to 50.3 in November from 50.6 in October, according to Markit Economics.
- Germany saw its producer prices decline by 0.6% in October.
- The yield on the 10-year U.S. Treasury note declined.
- FOMC minutes show that the Fed continues to view the “economic outlook as positive.”
- The effect of tariffs coupled with low corporate confidence is likely to increase pressure on global manufacturing.
- Brexit, Italian debt situation, and a weak European banking system risk could tip EU back into recession.
- In China, the pace of deceleration continues to be above and beyond the stimulus being injected into the economy.