China reports fastest industrial expansion in nearly 2 years; retail sales growth misses estimates
China's industrial production advanced by 6.6% year-on-year in November 2023, following a 4.6% gain in the previous month and beating market forecasts of 5.6%. It was the fastest pace of growth since February 2022. Retail sales climbed 10.1% in November from a year ago, the fastest pace of growth since May — though analysts had expected a 12.5% spike following a low base in 2022. Retail sales rose 7.6% in October. Fixed asset investment in urban areas cumulatively grew 2.9% in the first 11 months of the year, compared to expectations for 3% growth. China’s urban unemployment rate stayed at 5% in November. Source: Trading Economics, CNBC
Is Fed making the same error as the mid 1970s?
In the 1970s they also thought they had beat inflation in 1974-1975, they lowered rates and then inflation roared back to even higher levels in the late 1970s. Inflation on came down in early 1980s because of two factors. 1) massive new oil (energy) supply from Alaska, Gulf of Mexico, North Sea and huge new fields in Mexico coming online. 2) 18% interest rates crushed the economy. Source: Wall Street Silver
Holday gift idea
.
Culture
Source: Corporate rebels
Warrren Buffet 8 yellow flags
by Brian Feroldi
Unemployment rate in America from 1955-2023
Interesting how the unemployment rate tends to spike right after the Fed cuts rates. Suggesting that Fed policy easing is usually a negative signal for the economy. Not a positive one. Source: FRED, re:venture
Shell on uptrend support
Shell consolidated 12% since October highs. Bullish trend remains strong. Stock is back on July 2021 uptrend. Is it time for a rebound ? Source : Bloomberg
Times are tough for European industry, which is having to adapt to climate-friendly regulations, higher energy costs and increased competition from Chinese producers
German industry has seen production fall by -2.3% this year; worst of the four biggest eurozone economies. Source: Gavekal
