Tuesday, December 26, 2006

Quick Overview

  • Personal income increased $33.8 billion, or 0.3 %, and disposable personal income increased $27.0 billion, or 0.3 %, in November. Consumer spending was up 0.5%, the most in four months.

  • U.S. Durable goods orders were up 1.9% in November. Excluding transportation, orders were down 1.1%, more than expected.

  • The University of Michigan's consumer sentiment index dropped from 92.1 to 91.7 in December, better than expected.

  • The confidence of American consumers slipped in the latest week, with buyers "shopped out" by the Christmas holiday, ABC News and The Washington Post said on Tuesday

  • The Richmond Fed index of regional manufacturing fell from +7 to -6 in December, more than expected.

  • Sweden’s November Producer Price Index was up 0.1% MoM and 3.7% YoY

  • China's central bank expects the economy to grow 9.8% in 2007, down from 10.5% this year.

  • UK’s Q3 GDP +was up 0.7% QoQ and up 2.9% YoY

  • Japan’s unemployment rate fell from 4.1% to 4.0%, the lowest in eight years, household spending was down 0.7% YoY. Japan’s personal consumption, which makes up 55 percent of the economy, may appear weak at first glance, but a closer look at economic indicators suggests the outlook is not so bad. The minutes of the Bank of Japan meeting on Nov 15-16 contained some hawkish comments that supported the view the BOJ is leaning toward further tightening over the near-term.


  • Canadian officials are proposing a C$345 million program requiring biofuel content of 5% in gasoline by 2010 and 2% in diesel fuel and heating oil by 2012, the Associated Press reported.

  • The USDA said there were 11.973 million head of cattle on feed on December 1st, up 2.1% YoY


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