Quick Overview

• Bush acknowledged that economic indicators are causing worry for Americans, but said the economy is resilient. Paulson stressed the administration is combating the country's housing crisis.
  
  

• QoQ the U.S. office vacancy rate rose to 12.6%. This is the first increase after 16 consecutive quarterly declines.
  

• The unemployment rate in the Euro area unchanged at 7.2% in November.
  

• EU Producer prices rose 0.8% in November and up 4.1% YoY.
  

• Germany's cocoa grindings rose 17% in 2007.

• China plans to import 1.1 million metric tons of soybeans and 73,000 tons of soy oil to curb rising food inflation of 18.2% currently.

• Malaysia has called on stores to ration cooking oil because of panic buying sparked by rumours that the government will raise the price of the household commodity