Economy

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Germany's states; Saxony, Brandenburg, Hesse, Bavaria, North Rhine Westphalia and Baden Wuerttemberg all released their monthly inflation rates showing continued deflationary pressures, though there is some inflationary pricing in the core, particularly in Saxony to bring a smile to the ECB.

The ratings agency S&P isued a note saying the major fiscal stimulus in Australia flagged by the Australian federal government.could place the countries AAA rating under pressure

Australia's private sector fell for the first time in three months Flash PMI from the Commonwealth Bank and Markit showed in November. Declines were seen across both manufacturing and service sectors. However marginal increases were recorded in both new orders and employment.  Companies felt input cost inflation accelerate but left selling prices broadly unchanged amid a relatively weak demand environment.

Australia saw weakerr than expected full time jobs growth and part time jobs  in October, with Unemployment up to 5.3% and However the RBA preferred trend employment numbers were closer to expectations. Participation remains near highest since Dec of 2010.

US Consumer price inflation (CPI) for October was 0.4% higher than expected. YoY was 1.8% also more than expected. Gas prices surged 3.7% in October, though still fallen more than 7% in the past year. Bottom line is the Federal Reserve remains clueless about inflation and wages.

Canada’s recent election highlighted challenges with income inequality and long-term environmental and economic sustainability. This is highlighted by it's Inclusive Development Index (IDI) score, ranking 17th overall among advanced economies.

What is clear in 2019 politcy makers responses have misjudged the global economy. The Inclusive Development Index (IDI)reflects more closely the criteria by which people evaluate their countries’ economic progress and is designed as an alternative GDP measures.

China's annual consumer inflation rose to 3.8 percent in October 2019 from 3 percent the previous month and above market expectations of 3.3 percent to the highest inflation rate since January 2012 with persistently high pork prices pressuring inflation.

Australia posted another much larger than expected trade surplus in September, what is clear the commodity powerhouse is benefiting from the U.S.- China trade war. Australia ships nearly a third of its exports to China, led by iron ore and coal as the Chinese boost construction spending to ward off damage caused by U.S tariffs.

The US Labor Department October jobs report on Friday reported a higher than expected 128k v 85k non farm payroll additions.  The US lost 36,000 manufacturing jobs. Unemployment stayed stayed at 3.5% the lowest since December 1969.

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