Thursday, December 14, 2006

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.

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