Eurozone growth rises, UK retail sales fall
During early December ,the Eurozone's dominant services sector grew at its fastest pace in over two years while the manufacturing sector grew at a rate not seen since March 2008. The Purchasing Managers' Index (PMI) for services rose to a reading of...
During early December ,the Eurozone's dominant services sector grew at its fastest pace in over two years while the manufacturing sector grew at a rate not seen since March 2008. The Purchasing Managers' Index (PMI) for services rose to a reading of 53.7 in December, while the manufacturing PMI rose to 51.6 during the same period.
The Eurozone registered a trade surplus in October from a deficit a year earlier, as exports fell less than imports despite a stronger euro exchange rate against the US dollar. In fact, the seasonally adjusted trade surplus of the 16 countries using the euro totalled €8.8 billion, compared with a deficit of €1.2bn in October 2008 and a revised €900 million surplus in September 2009.
According to revised data, inflation in November was smaller than previously estimated, and core inflation was unchanged from October. Consumer Price Inflation in the Eurozone rose 0.1% for an annual 0.5% gain.
In the UK, retail sales in November fell 0.3 % - their biggest drop since May. Economists expected a 0.4% rise.
UK jobless figures were again more positive than expected with a 6,300 fall in the number of people claiming unemployment benefit in November. This was the first decline in the number of claimants for over two years.
Finally, the latest headline consumer inflation rate increased to 1.9% from 1.5%, which was marginally above expectations.
In the US, the Federal Open Market Committee held the benchmark rate of interest in the 0 to 0.25% range for an "extended period".
Producer prices for November rose sharply by 1.8% after October's 0.3% gain. Consumer prices rose by 0.4% in November, while core prices remained unchanged. Industrial production rose firmly in November as output increased by 0.8%, well above the 0.5% economists predicted.
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