Economy

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China's annual consumer inflation rose to 4.5 percent in November 2019 from 3.8 percent the previous month and above market expectations of 4.2 percent to the highest inflation rate since January 2012 as persistently high pork prices keep pressuring inflation.

The US Labor Department November jobs report on Friday reported a much higher than expected 266k v 180k non farm payroll additions.  The US added 54,000 manufacturing jobs. Unemployment stayed stayed at 3.5% the lowest since December 1969.

The Sino US trade war maybe biting Australia after all. October's trade surplus fell a third seasonally adjusted as gold and ore exports slumped. In September had Australia posted another much larger than expected trade surplus. Australia ships nearly a third of its exports to China, led by iron ore and coal.

Japan's preliminary industrial production for November came in at -4.2% m/m, much lower than an already anemic expected -2.0%.In May the Nikkei Japan Manufacturing PMI® business outlook turned pessimistic for the first time in six-and-a-half years.

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.

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