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  • Writer's pictureAcinox Insights

Economy by the week - 2nd Dec

Here are the key economic developments for the week:


- The Bureau of Economic Analysis reported that the US GDP grew by 2.1% in the third quarter.

- US new home sales fell by 0.7% in October, according to Census Bureau.

- The US trade deficit narrowed in October, according to Census Bureau.

- Durable goods order rose 0.6% in October, according to Census Bureau.


- Initial jobless claims fell by 15,000 to 213,000 in the week ended November 23, 2019, according to the Labor Department.

Corporate Profits

- Corporate profits increased by 0.2% on a quarterly basis in the third quarter. This figure was 3.8% in the second quarter of 2019.


- The Consumer Confidence Index declined in November.


- The EU zone annual inflation rose to 1.0% in Nov from 0.7% in Oct, according to Labour Department.

- Germany's Federal Statistical Office reported that import prices fell by 3.5% year-on-year in October.


- The yield on the 10-year U.S. Treasury note increased.

- Most US districts reported a moderate growth in rates in November.


- 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.

Acinox Insights

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