Fisher Investments recaps the biggest market, political and economic news from last week, including eurozone money supply (M3), Japanese industrial production and unemployment.
In the US, initial jobless claims decreased to 198,000 in the week ending December 25, below expectations.
In the eurozone, November money supply (M3) declined to 7.3% y/y, slightly lower than anticipated.
In Japan, preliminary November industrial production was higher than expected, surging to 7.2% m/m and 5.4% y/y. November retail sales increased to 1.2% m/m and 1.9% y/y—exceeding expectations. The November unemployment rate ticked up to 2.8%, slightly higher than expected. In China, the official December NBS manufacturing and non-manufacturing Purchasing Managers’ Indexes (PMI)—focused on large, state-owned firms—came in above expectations at 50.3 and 52.7, respectively (readings over 50 indicate expansion).
The Week Ahead:
The US, UK, eurozone, China and Japan release December manufacturing and services PMI figures. The US releases December unemployment figures and November trade data. The eurozone announces November retail sales and inflation data.