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Global Economic Update

10:02, 20 décembre

Global Economic Update

  • In the Eurozone, labour cost advanced less-than-anticipated 1.60% on a QoQ basis in 3Q 2017, compared to a rise of 1.80% in the prior quarter. The seasonally adjusted construction output declined 0.40% on a monthly basis in October, compared to a rise of 0.10% in the previous month.
  • In Germany, the Ifo business climate index surprisingly fell to 117.20 in December, compared to a level of 117.50 in the previous month. The Ifo business expectations index dropped more-than-expected to 109.50 in December, compared to a reading of 111.00 in November. The Ifo current assessment index rose higher-than-expected to 125.40 in December, compared to a level of 124.40 in the last month.
  • In the US, the housing starts advanced surprisingly by 3.30% to an annual rate of 1297.00 K, on a MoM basis in November, compared to a revised level of 1256.00 K in the previous month. Building permits fell less-than-expected 1.40% to an annual rate of 1298.00 K, on a MoM basis in November, compared to a revised reading of 1316.00 K in October. Current account deficit narrowed to USD 100.60 billion in 3Q 2017, compared to a revised current account deficit of USD 124.40 billion in the previous quarter.
  • In Japan, the all industry activity index advanced 0.30% on a MoM basis in October, compared to a drop of 0.50% in the last month. • In Australia, the Westpac leading index jumped 0.10% on a MoM basis in November, compared to a revised rise of 0.14% in the previous month.