International Economic
US building permits grow 6.2pc, housing starts unexpectedly decline
US building permits surged 6. 1% in November to a seasonally adjusted rate of 1. 50m, according to the Census Bureau, erasing October's 0. 4% decline and well and truly ahead of expectations for a print of 1. 43m.
Eurozone Nov CPI revised down to 2.2%
Eurozone inflation was revised downward slightly to 2. 2% in November from 2. 3%, according to final figures published on Wednesday.
Wednesday preview: US Fed decision, UK CPI in the spotlight
Wednesday will bring with it the week's key risk event, the Federal Reserve's policy announcement.
US industrial output falls short in November
Industrial output in the US dropped unexpectedly last month, amid a downdraft in Mining and Utilities, whilst manufacturing staged a small bounce as the strike at Boeing ended.
Autos boost US retail sales in November
US retail sales grew more quickly than anticipated in November, in large part due to a jump in outlays for motor vehicles and parts.
German business sentiment unexpectedly improves in December - ZEW
German business sentiment unexpectedly improved in December, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim.
Eurozone trade surplus shrinks more than expected
The eurozone trade surplus shrank substantially in October, according to figures from Eurostat on Tuesday, with the balance falling to its second-lowest level in 14 months.
German business sentiment deteriorates in December - Ifo
German business sentiment deteriorated in December, according to a survey released on Tuesday by the Ifo Institute.
US services activity expands at fastest pace since Covid reopening, S&P says
Services sector activity in the States picked up to its quickest pace since the economy reopened after Covid, the results of a closely followed survey showed.
Manufacturing recession sees German economy contract further
Germany’s economy continued to contract in December, marking the sixth consecutive month of declining business activity, according to the latest HCOB flash purchasing managers’ index (PMI).
China November data shows mixed results as retail sales fall
China economic data for November was mixed, with industrial production expanding but retail sales growth missing expectations.
Bundesbank slashes GDP forecasts, warns on impact of trade war
The German economy will shrink this year and stagnate over the course of 2025, said Bundesbank President Joachim Nagel, adding that a potential trade war with the US could hit GDP even more.
US import prices edge up in November as energy costs bounce back
US import prices rose more or less as expected last month on the back of dearer energy.
EZ industrial production stagnates in October
Eurozone industrial production was flat in October on a monthly basis, according to preliminary data published on Friday.
German exports fall by more than expected 2.8% in October
German exports in October fell by a more-than-expected 2. 8% and imports dropped 0. 1% month on month on a seasonally adjusted basis, according to official data published on Friday.
Structural changes needed in Germany if economy is to recover, says Ifo
The Germany economy has been "treading water" for the past five years, according to the research firm the Ifo Institute, which predicted a contraction in GDP in 2024, followed by minimal growth over the next two years.
US producer prices rise 0.4pc in November
The US producer price index rose 3% on an annualised basis and 0. 4% month-on-month in November, according to the Bureau of Labor Statistics, stronger than expectations.
US jobless claims unexpectedly rise to 242,000
Americans lined up for unemployment benefits at an accelerated pace in the week ended 7 December, according to the Department of Labor.
ECB cuts rates by 25 basis points, as expected
The European Central Bank cut interest rates on Thursday by 25 basis points, as expected, to 3%.
Switzerland cuts interest rates more than expected
Switzerland's central bank has slashed its benchmark interest rate by more than expected amid a strengthening franc and tepid economic growth with inflation running lower than expected.