Flash U.S Composite Output Index for December was 55.7, a 3-month low, down from 58.6 in November, according to IHS Markit press release. The loss of private sector momentum was caused by COVID-19 related restrictions and input prices, which rose at the sharpest rate since April 2018. Flash U.S. Services Business Activity Index recorded a 3-month low of 55.3, down from … [Read more...] about PMI: U.S. Private Sector Recovery Loses Momentum, Hits a 3-Month Low
Forex News
Eurozone Economic Rebound Beats Estimates in December, Remains in Contraction
Eurozone’s IHS Markit’s flash composite PMI was 49.8 in December, up from November’s 45.3, and above expected 45.8, reports Reuters. The economic rebound reflects the partial lifting of restrictions in countries like France, although it remained below the 50 mark that separates growth from contraction. The service industry rose to 47.3, up from 41.7 to remain above … [Read more...] about Eurozone Economic Rebound Beats Estimates in December, Remains in Contraction
China Beats Estimates in November’s Economic Recovery, Jobless Rate Wanes
China extended its strong momentum in economic activity with an across-the-board recovery in November, according to Market Watch. The urban jobless rate fell for a fourth straight month to 5.2%, down from October's 5.3%. Industrial output rose 7.0% in November year over year, up from 6.9% in October beating analysts’ expected 6.8%Fixed-asset investment rose 2.6% in the … [Read more...] about China Beats Estimates in November’s Economic Recovery, Jobless Rate Wanes
UK Jobless Claims Rise in November amid Tightening Coronavirus Restrictions
UK’s jobless claims in November were 64,300, up from October’s -64,100, according to the Office for National Statistics press release. The Claimant Count rate was 7.4%, up from the previous month's 7.2%. Prior jobless claims change was revised better from -29,800 to -64,100.Prior claimant count rate was revised lower from 7.3% to 7.2%.The average total pay among employees … [Read more...] about UK Jobless Claims Rise in November amid Tightening Coronavirus Restrictions
Oil Slips on Demand Uncertainties of Tightening COVID-19 Restrictions
Oil fell towards $50 a barrel on Tuesday on forecasts of slower demand recovery and tightening coronavirus lockdowns in Europe, reports Reuters. Brent crude declined by 2 cents to $50.27 a barrel at 0910 GMT, but U.S. West Texas Intermediate (WTI) crude was up 2 cents at $47.01. Oil forecasters project global demand to pick up in the second half of next year rather than at … [Read more...] about Oil Slips on Demand Uncertainties of Tightening COVID-19 Restrictions
