Quick Overview

• The U.S. trade deficit widened to a record fifth straight year in 2006. The Department of Commerce announced today that December exports of $125.5 billion and imports of $186.7 billion resulted in a goods and services deficit of $61.2 billion, $3.1 billion more than the $58.1 billion in November.
  

• Japan's producer prices rose 2.2 percent YoY, less than predicted.
  

• The International Energy Agency forecasts oil demand up by 3.2 % this year mainly due to higher Chinese consumption.
  
  

• QoQ GDP in the Euro Area was up 0.9%. YoY GDP was up 2.7%.
  

• MoM Consumer prices in the U.K. were down 0.8% in January.
  

• Italy's GDP was up 2% in 2006.