Daily Review – Friday 02-Dec-2016

Daily Review – Friday 02-Dec-2016

US – Unemployment Claims

US unemployment claims are on its third consecutive week of rise coming in at 268K, from 251K in the preceding week.

 

US – ISM Manufacturing PMI

The ISM purchasing managers index for the US manufacturing industry showed a reading of 53.2 in November, from 51.9 one month earlier.

The index grew at its highest pace in five months and is now on its third consecutive month of rise.

 

US – Final Manufacturing PMI

The final manufacturing PMI was revised upward to 54.1, from a 53.9 initial flash number.

 

US – Challenger Job Cuts y/y

US based employers announced 13% less job cuts (26,936) in November, compared to the same month last year (30,953).

 

US – Construction Spending m/m

Construction projects in the US rose 0.5% in October, compared to a upwardly revised September which saw 0.0% growth.

 

US – ISM Manufacturing Prices

MAnufacturing prices in the US remained flat in November at 54.5, similar to the previous month.

The index has now been consistently above the 50 threshold since March 2016.

 

US – Natural Gas Storage

Natural gas inventories took a big 50B cubic feet drawdown in the week ended November 25, almost identical to the 52B that analysts were expecting.

 

US – Total Vehicle Sales

Total vehicle sales in November decreased 0.4M to a total of 17.9M, compared to 18.3M in October.

 

UK – Manufacturing PMI

The manufacturing PMI in Britain decreased to a 53.4 level for November, compared to a 54.2 reading in October.

The index has been on a downward trend for three consecutive months, but has remained above the critical 50 level for the past 4 months now.

 

UK – Nationwide HPI m/m

UK house price index increased 0.1% in November, compared to no-growth in October.

The average price for a UK home now stands at £204,947.

 

EU – French Final Manufacturing PMI

The final manufacturing PMI for France was revised upward from a 51.5 flash reading to 51.7 for November, a fraction down from the final 51.8 October number.

 

EU – German Final Manufacturing PMI

The German final manufacturing PMI was revised one tick down from 54.4 to 54.3 for November, down 0.7 points compared to 55.0 in October.

 

EU – Spanish Manufacturing PMI

The spanish manufacturing PMI posted a reading of 54.5 in November, up 1.2 points from 53.3 in October signalling solid monthly improvements in the country’s business conditions.

 

EU – Italian Manufacturing PMI

Similar to its Mediterranean neighbour Italy also posted a solid 1.2 point increase to 52.2 in November, from a 50.9 reading in October.

 

EU – Italian Monthly Unemployment Rate

Italy’s unemployment rate decreased slightly to 11.6% in November, compared to 11.7% in October.

 

EU – Final Manufacturing PMI

The final euro area manufacturing PMI remained unchanged at 53.7 for November, similar to the flash number. However, November still posted a higher number than the 53.5 in October.

Growth was mainly lead by Netherlands, Austria, Spain and Germany.

 

EU – Unemployment Rate

The euro area unemployment rate now stands at 9.8% in October, down 0.1% from 9.9% in September.

Among the Member States, the lowest unemployment rates in October were recorded in the Czech Rep. (3.8%) and Germany (4.1%). The highest unemployment rates were observed in Greece (23.4%) and Spain (19.2%).

 

Japan – Capital Spending q/y

Capital expenditures by Japanese businesses declined 1.3% in Q3’16, compared to the same quarter last year.

This is the first quarter of negative capital spending since Q2’13.

 

Japan – Final Manufacturing PMI

Final reading for the Japanese manufacturing PMI came in at 51.3 points, up 0.2 from its initial flash number at 51.1.

 

China – Manufacturing PMI

China’s official Government PMI rose to 51.7 in November, from 51.2 in the previous month.

The November reading was the highest since mid-2014.

 

China – Non-Manufacturing PMI

Meanwhile, the government’s official non-manufacturing index came in at 54.7 in November, up from 54.0 the prior month.

 

China – Caixin Manufacturing PMI

The independent Caixin survey showed that the Chinese manufacturing PMI came in lower at 50.9 in November, down from a 51.2 in the preceding month.

 

Australia – Private Capital Expenditure q/q

Australian private businesses spend 4.0% less in Q3’16, compared to the same quarter last year.

 

Australia – AIG Manufacturing Index

The manufacturing survey done by the Australian Industry Group increased 3.3 points to a level of 54.2 in November.

 

Australia – Commodity Prices

Commodity prices for the Australian industry increased 32.1% in November, compared to the same period last year.

This was more than double the price increase we saw in October at 15.3% compared to last year.

 

Upcoming Data Releases

Daily Review - Thursday 01-Dec-2016