Economic Data

A run down of the Economic Data points from Europe and USA released in last 24 hours. Almost all of it Second tier in importance regardless most of it was good news for economy (from Trading economics) take notice of the EU trade surplus data this will not make trump Administration happy,in fact lighthizer has already commented on US/EU trade talks.

U.S.:

US Building Permits Rise to 12-1/2-Year High
Building permits in the United States increased 1.4 percent from a month earlier to a seasonally adjusted annual rate of 1,482 thousand in November 2019, beating market

Housing starts in the US went up 3.2% mom to an annualized 1.365 million units in November. It compares with an upwardly revised 1.323 million rate in the previous month and expectations of 1.345 million. Starts at the single-family segment were the strongest in ten months and multi-family starts were the highest since August

Industrial production in the US increased 1.1 percent month-over-month in November of 2019, following an upwardly revised 0.9 percent fall in October and beating market expectations of a 0.8 percent rise. It is the biggest jump in industrial output since October of 2017, due to a bounce back in the output of motor vehicles and parts following the end of a strike at General Motors.

Europe:

The Euro Area trade surplus widened sharply to EUR 28 billion in October 2019 from EUR 13.2 billion in the corresponding month of the previous year and beating market expectations of EUR 17 billion. It was the largest trade surplus since March 2017, as exports rose 4.1 percent from a year earlier to EUR 217.9 billion while imports fell 3.2 percent to EUR 189.9 billion.

Italy’s trade surplus increased to EUR 8.057 billion in October 2019 from EUR 3.828 billion in the corresponding month of the previous year and beating market estimates 

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