Economy

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October's U.S. jobs report added less than expected new non-farm jobs, 261,000 over the 313,000 expected the Bureau of Labor Statistics said on Friday. The unemployment rate is back at a 16-year low of 4.1%. Hurricane affects still impact as particpation rate falls.

Real gross domestic product (GDP) increased 3% in the third quarter of 2017, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter of 2017, real GDP increased 3.1%.

Chinese foreign debt has soared after contracting in 2015 and 2106 we have seen a third consecutive quarterly increase by Q2 2017  in lending to China the BIS reports. The annual growth rate is now a brisk 25% The banking systems with the largest claims are United Kingdom, United States, Japan, Chinese Taipei and France.

Canada's Liberal governement gives its Fall Economic Statement where the budget shortfall is now expected to be $19.9 billion. 

Xi Jinping was elected general secretary of the Communist Party of China (CPC) Central Committee for the second term at the first plenary session of the 19th CPC Central Committee on Wednesday.

A new report by Freddie Mac has found that the shortfall of affordable rental units has widened considerably over the past six years.

The US Senate has passed the 2018 budget blueprint which is the foreunner for tax reform. US dollar higher on optimism and that House will be shamed into no further delays. Passes 51-49 vote along party lines.

The 19th National Congress of the Communist Party of China.

Ahead of China's National Congresss we have seen some teasers pop out of Bejing. Latest if from leading Chinese Think Tank, State Information Center saying PBOC should tighten and strengthen controls.

Germany's economic ministry raised GDP forecasts for 2017 and 2018 on Wednesday saying also that robust German domestic consumption will see imports outstripping exports implying Germany will aid European and world growth.

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