UK Economy Grows 7.5% in 2021, the Most in 80 Years
(ONS) UK gross domestic product improved by 7.5% in 2021, the strongest since 1941, making it the fastest-growing economy in the developed world in the year. The robust GDP happens…
US Consumer Prices Jump by an Annual 7.5%, the Highest in 40 Years
(BLS) US inflation rose by 7.5% over the last 12 months to the end of January, above December’s rate of 7% and forecasted 7.2%. The rate was the highest since…
Alibaba, Pinduoduo, and JD.com Surge as State Funds Buy Stocks of US-Listed Firms
(Bloomberg) Shares of Chinese giants including Alibaba, Pinduoduo, and JD.com rose on Tuesday as reports emerged that state backed funds were buying the shares. The move by the Chinese state-backed…
Beijing Starts Testing of Digital Yuan During Winter Olympics
(Baidu) China has started testing its central bank digital currency at the 2022 winter Olympics, moving ahead of its global peers. The digital yuan or eCNY is being offered to…
Chinese Service Sector Puts a Slow Start to the Year on Covid-19 Impacts
(IHS Markit) China’s Business Activity Index showed a reading of 51.4 in January, down from 53.1 in December, as measures to slow down the rising Covid-19 cases hurt growth. Overall…
UK House Prices at a Record in January Despite Easing to a Marginal 0.3% Gain
(Halifax) UK house prices rose by a monthly 0.3% in January, the lowest increase since June 2021, pushing the average cost of ownership to a new record 276,759 pounds. The…
US Adds a Robust 467,000 Jobs in January, Unemployment Unchanged
(BLS) US total nonfarm payroll employment increased by a robust 467,000 in January, better than the estimated jump of 150,000. The unemployment rate retained a 4.0% rate in January, remaining…
Euro Area and EU Retail Trade Volume Make a Surprise Decline in December
(Eurostat) The volume of retail fell by 3.0% in the euro area in December, a downturn after increasing by 1.0% in November. The retail sales also fell in the EU,…
Eurozone Construction Expansion Hits the Highest in Four Years in January
(IHS Markit) Eurozone Construction Total Activity Index was posted at 56.6 in January, up from 52.9 in December, its highest since the first month of 2018. The expansion in construction…
US Service Activity Hits the Lowest in 18-Months in Jan., but Optimism Remains High
(IHS Markit) The rate of growth of output in the US service sector in January was the weakest in 18-months, with the PMI index at 51.2, down from 57.6 the…
Manufactured Goods Orders Mark the First Decline in Dec. After 7 Months of Gains
Source: Census Bureau The US posted $530.7 billion worth of new orders for manufactured goods in December, down 0.4% or $2.4 billion from the previous month. SPY is down -1.19%,…
Jobless Claims Edge Lower to a Below-Estimate Level of 238,000
(Department of Labor) US jobless claims totaled 238,000 in the week that ended January 29, down by 23,000 from the previous week. The claims were below estimates of 245,000. The…
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