Last Week In Markets: Jan 2 - Jan 6 2023

Fisher Investments recaps the biggest market, political and economic news from last week, including US unemployment data, US, eurozone, UK, Japan and China PMIs and UK money supply figures. In the US, the final December S&P Global Manufacturing Purchasing Managers’ Index (PMI) was unchanged from the flash reading of 46.2 (readings below 50 indicate contraction). The final Services PMI was revised up to 44.7. In December, nonfarm payrolls increased by 223,000 and the unemployment rate dropped from 3.6% to 3.5%—beating expectations for 3.7%.

In the eurozone, the final December S&P Global Manufacturing PMI was 47.8—the same as the flash reading. The final December Services PMI was revised higher to 49.8. November retail sales rose 0.8% m/m, but fell 2.8% y/y. In the UK, the final December S&P Global/CIPS Manufacturing and Services PMIs were 45.3 and 49.9, respectively. November money supply (M4) fell 1.6% m/m. In Japan, the final December Jibun Bank Manufacturing PMI was revised higher to 48.9 and the final December Services PMI was revised lower to 51.1. In China, the December Caixin Manufacturing and Services PMIs were 49.0 and 48.0, respectively.

The Week Ahead

The US reports December consumer price data. The eurozone and UK report November industrial and manufacturing production figures. The eurozone reports its November unemployment rate. Japan releases preliminary November LEIs. China releases December money supply (M2) data.