JAPAN Q3 GDP REVISED UP TO +5.3% Q/Q, +22.9% ANNUALIZED, ON FIRMER CONSUMPTION, CAPEX
By Max Sato (MaceNews) – Japan’s economy for the July-September quarter surged an upwardly revised 5.3% on quarter, or an annualized 22.9%, from the initial reading of +5.0% (+21.4% annualized), as a rebound in consumer spending turned out to be stronger than previously estimated and the decline in business investment was smaller than initially believed, […]
DATA FLASH: US OCTOBER PERSONAL INCOME FALLS AS STIMULUS DISAPPEARS
–US October Personal Income -0.7% After +0.7% in October, Savings Rate 13.6%–Nominal PCE +0.5%, Real PCE +0.5%; Core Prices Flat–November Michigan Sentiment Index Revised Down to 76.9, Expectations Tumble By Kevin Kastner WASHINGTON (MaceNews) – Personal income fell in October, reflecting the removal of the Lost Wages stimulus package that lifted income in September, one […]
UK DOWNGRADES ECONOMIC FORECASTS; RETURN TO POST-PANDEMIC LEVEL DELAYED TO END 2022
By Laurie Laird LONDON (MaceNews) – The UK economy – already lagging its developed-world peers – will recover more slowly than expected, according to updated forecasts released on Wednesday. Output will not regain its pre-pandemic level until the final quarter of 2022, according to UK’s top finance official, Chancellor Rishi Sunak, delivering his spending statement […]
STATUS CHECK COMMENTARY- STILL WAITING FOR YELLEN
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · President-Elect Joe Biden’s slate of foreign policy, national security and domestic security picks who made their formal debut Tuesday did not yet include Janet Yellen, who perhaps will get a solo event […]
DATA PREVIEW: ODD THANKSGIVING CAPS OFF A BUSY WEEK
By Kevin Kastner WASHINGTON (MaceNews) – As a result of surging COVID cases, the upcoming Thanksgiving holiday will be the strangest on record, with a Zoom screen at the other end of the table rather than relatives. It could prevent the spread of COVID, but it may also prevent the usual Thanksgiving sporting event in […]
ANALYSIS: JAPAN FACES SLOW RIDE BACK TO PRE-COVID LEVEL OUTPUT
By Max Sato (MaceNews) – With luck, Japan’s economy has recovered about half of lost output amid the global pandemic and its momentum is lingering into the current quarter, but it is likely to lose steam in the New Year and could contract again. For an economy heavily dependent on China as a consumption and […]
JAPAN Q3 GDP RECOVERS HALF OF PANDEMIC-CAUSED RECORD PLUNGE IN Q2
By Max Sato (MaceNews) – Japan’s economy for the July-September quarter surged 5.0% on quarter, or an annualized 21.4%, led by a rebound in net exports and consumer spending, but it only recovered just over a half of a record plunge in April-June amid the pandemic-triggered slowdown, Cabinet Office data released Monday showed. The first […]
STATUS CHECK COMMENTARY – STOWING THE AMMO BEFORE ELECTION DAY
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · Does anyone still care that House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin exchanged letters, each listing the deficiencies in the other’s position on pandemic relief. Suffice to say they’re far […]
JAPAN SEPT FACTORY OUTPUT ON PICKUP TREND BUT LEVEL STILL LOW
(MaceNews) – Japan’s industrial production continued to crawl out of a pandemic-caused plunge seen in the spring on recovery domestic and overseas demand, marking a fourth straight month-on-month gain in September, but the level of output remains low, preliminary data released Friday by the Ministry of Economy, Trade and Industry showed. The key points from […]
DATA FLASH: US THIRD QUARTER GDP REBOUNDS BY 33.1%
–-Third Quarter PCE Jumps By 40.7% After 33.2% Drop in Second Quarter –US GDP Still -2.9% Vs. Year Earlier –Initial Claims Slowed by 40,000 to 751,000; 4-Week Average Falls Further By Kevin Kastner WASHINGTON (MaceNews) – As expected, the U.S. economy rebounded in the third quarter, with strength in consumption supplemented by rebounds in the […]