The economic data from the US on Wednesday were mostly positive. Bloomberg reports:
Consumer spending and sales of new homes climbed more than forecast while claims for jobless benefits dropped to the lowest level in a year, putting the U.S. economy on stronger footing heading into 2010.
Household purchases increased 0.7 percent in October and new homes sold at the fastest pace since September 2008, data from the Commerce Department showed today in Washington. The number of Americans applying for unemployment insurance dropped by 35,000 last week, the Labor Department said...
A separate report from the Commerce Department showed the economic recovery will be uneven and slow to gain speed. Orders for durable goods unexpectedly declined 0.6 percent in October. Slowing demand for machinery, computers and communications equipment indicates companies are still wary about being stuck with unsold goods...
A separate report showed confidence among U.S. consumers fell in November. The Reuters/University of Michigan’s final index of consumer sentiment decreased to 67.4 from 70.6 in October.
Earlier on Wednesday, Japan had also good news on its trade data. AFP/CNA reports:
Japan posted a trade surplus for a ninth straight month in October as the world's number two economy slowly emerges from its deep slump thanks to recovery in the rest of Asia, data showed on Wednesday...
Japanese exports fell at their slowest rate in a year in October, down 23.2 per cent from a year ago at 5.31 trillion yen, with sharp declines seen in vehicles and steel products.
The figure was an improvement on September's 30.6 per cent decline...
Imports were 35.6 per cent below their level of October 2008 at 4.50 trillion yen, in part due to lower energy prices from last year, such as crude oil and liquid natural gas, the ministry said.
And the UK has revised its third quarter GDP to show a 0.3 percent contraction, less than the 0.4 percent fall reported last month.
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