By the numbers: The global economy this week

Highlights of economic data released last week, from central bank policies to trade and growth trends.

November 29, 2021

Currency

EUROZONE: The euro fell versus other major currencies following a report of a decline in business sentiment in Germany.

Central bank policy

EUROZONE: ECB Executive Board Member Fabio Panetta said that “monetary policy should remain patient” as data indicated a rise in inflation.

Trade

GERMANY: Import prices rose 3.8% in October compared with September.

U.S.: The trade deficit declined in October.

Growth

GERMANY: The Flash Composite PMI Output Index increased to 52.8 in November from 52.0 in October.

EUROZONE: The Flash Composite PMI Output Index rose to 55.8 in November from 54.2 in October.

U.K.: The Flash Composite PMI Output Index slipped to 57.7 in November from 57.8 in October.

U.S.: The Flash Composite PMI Output Index fell to 56.5 in November from 57.6 in October.

U.S.: Existing home sales rose 0.8% in October compared with September.

U.S.: GDP grew at an annual rate of 2.1% in the third quarter.

U.S.: Durable goods orders decreased 0.5% in October.

U.S.: Wholesale inventories increased 2.2% in October compared with September.

U.S.: Retail inventories rose 0.1% in October compared with September.

U.S.: Consumer spending increased 1.3% in October.

Employment trends

U.S.: Initial jobless claims fell by 71,000 to 199,000 in the week ended November 20, 2021.

Inflation/deflation

U.S.: The PCE Price index increased 0.6% and core PCE rose 0.4% in October.

Market sentiment

CANADA: The CFIB Business Barometer increased in November.

EUROZONE: The European Commission Flash Consumer Confidence Indicator declined sharply in November compared with October.

GERMANY: The ifo Business Climate Index dropped in November.

GERMANY: The GfK Consumer Climate Indicator fell heading into December.

U.S.: The University of Michigan’s index of consumer sentiment fell to 67.4 in November from 71.7 in October, reaching the lowest level since 2011.