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1) The U.S. Consumer Price Index (CPI) accelerated from an annual rate of 3.1% in November to 3.4% in December, the Department of Labor reported today. Core inflation, which makes food and energy more insecure, slowed from a rate of 4% to a rate of 3.9%. Inflation has eased from its June 2022 peak of 9.1%.
2) The Department of Labor announced Thursday that the number of new jobless claims for the week ending January 6 fell by 1,000 to 202,000. This is the lowest level since mid-October. A Wall Street Journal survey of economists predicted that the number of new applications would reach 210,000.
3) According to the Department of Commerce’s Census Bureau, the U.S. trade deficit decreased by 2.0% to $63.2 billion. Data for October was revised slightly to show the trade gap widened to $64.5 billion instead of $64.3 billion as previously reported.
4) U.S. consumer credit rose $23.7 billion in November, up from a $5.8 billion increase the previous month, the Federal Reserve announced Monday. This corresponds to an annualized rate of 5.7%, up from the previous month’s revised 1.4% rise.
5) The Fed’s net income after expenses was negative $114.3 billion last year, compared to positive $58.8 billion the year before. The losses were related to the sharp increase in interest expenses faced by the central bank during its interest rate hike campaign aimed at curbing inflation.
6) The euro area unemployment rate fell to 6.4% in November 2023, down from 6.5% in the previous month and 6.7% a year earlier, according to the latest data from the EU’s statistical agency Eurostat. The number of unemployed people decreased by 99,000 from the previous month to 10.97 million. Meanwhile, the youth unemployment rate, which reflects young people under 25 looking for work, was 14.5%, down from 14.8% in the previous month.
7) The Eurozone Economic Sentiment Index was 96.4 in December, up from 94 in November, and the Industry Confidence Index rose to 9.2. Service sentiment rose from an upwardly revised 5.5 to 8.4.
8) The UK economy grew by 0.3% on a monthly basis in November, beating market expectations. Office for National Statistics (ONS) data on Friday showed monthly GDP rose by 0.3% after falling by 0.3% in October. The service industry was the main contributor to the monthly GDP growth rate in November, increasing by 0.4%.
9) Japan’s economic index, which covers various data such as factory output, employment, and retail sales, fell to 114.5 in November 2023 from the previous month’s final value of 115.9, preliminary data shows. It was done. This was the lowest reading since March as the economy struggles to sustain a strong post-pandemic recovery amid rising inflation.
10)According to official data, despite deflationary pressures, China’s imports and exports increased slightly in December. Exports increased by 2.3% to $303.6 billion, and imports increased by 0.2% to $228.2 billion. China’s total trade surplus in December was $75.3 billion, an increase of 10.1% from $68.3 billion in November.
11) China’s consumer prices in December 2023 fell by 0.3% year-on-year, marking the third consecutive month of decline and the longest continuous decline since October 2009. Although the figure was lower than market expectations for a 0.4% decline, it was slower than the steepest level in November, marking a 0.5% decline in three years.
12) China’s producer price index (PPI), which measures the cost of products at the factory, fell 2.7% year-on-year in December, the National Bureau of Statistics said on Friday. The decline was smaller than the 3% decline in November.
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