- The Institute of Supply Management's index of services increased from 54.8 to 55.8 in October, stronger than expected.
- The Federal Reserve should be ready to reverse two interest rate cuts if the U.S. economy escapes major damage from recent market turmoil, but recovery is a way off for housing and subprime mortgage markets, Fed officials said.
- Citigroup warned of another $8 to $11 billion in loan losses, reigniting fears about the health of financial firms and the broader U.S. economy. The CEO quit.
- The Florida Department of Citrus said that at the end of October, there were 49.2 million gallons of frozen orange concentrate in inventory, this is down 17% YoY.
- U.K. services fell from 56.7 to 53.1 in October, weaker than expected,
- U.K’s Factory production fell 0.6%.
- Bank of Japan Governor Toshihiko Fukui yesterday underlined the need to raise interest rates in a timely manner, saying that keeping them too low in the light of economic conditions could pose risks in the future.
No comments:
Post a Comment