Quick Overview

• Argentina's economy expanded 8.7 percent in the third quarter compared with the year-earlier period, fueled by higher consumer spending and private investment.
  
  

• The price of goods imported to the United States rose 0.2% in November after falling more than 2% in the previous two months, the Labor Department said Thursday.
  
  

• U.S. Jobless claims were down 20,000 to 304,000, less than expected.
  
  

• U.K. Retail sales up 0.3% in November, more than expected.
  

• EU-12 Labor costs up 2.0% YoY.
  

• Germany's Ifo economic institute predicts the economy will grow 2.5% in 2006 and 1.9% in 2007.
  

• Canada's manufacturing shipments down 0.1% MoM.
  

• Japan's top financial diplomat does not expect the yen to weaken further due to any domestic reasons as the economy is performing steadily.
  
  

• The U.S. Department of Energy said that underground supplies of natural gas were down 168 billion cubic feet last week to 3.238 trillion cubic feet. YoY Supplies are up 8%.
  

• OPEC oil ministers said Thursday they will cut production by a half-million barrels a day starting Feb. 1, a 1.9% cut, Bloomberg reported.