U.S. Household Net Worth Posts Smallest Gain of Covid Recovery
“Growth in U.S. household net worth cooled in the third quarter as wealth created by rising home values was eroded by a temporary pullback in the stock market. Household net worth increased by almost $2.4 trillion, or 1.7%, after a $6.14 trillion jump in the second quarter, a Federal Reserve report showed Thursday. While the quarterly advance was the smallest of the pandemic recovery, net worth still climbed to a fresh record of nearly $145 trillion.”
U.K. Economy Barely Grew in October as Shortages Hit Builders
“The U.K. economy grew less than forecast in October as shortages of materials hit manufacturing and construction, and a further loss of momentum now seems inevitable with consumers facing fresh restrictions to contain the new strain of Covid-19. Gross domestic product grew 0.1%, compared with 0.6% in September, the Office for National Statistics said Friday. Growth of 0.4% was forecast in a Bloomberg survey of economists. It left output 0.5% lower than in February 2020, before the pandemic struck.”
China Shifts Focus to Economic Stability as Growth Weakens
“China stressed that it will aim to keep the economy growing in a stable manner next year as it looks to counteract the effects of a housing market slump and slower growth. “Ensuring stability is the top priority for next year’s economic work,” the Communist Party’s top decision makers said at the end of a three-day annual Central Economic Work Conference. The government will “support commercial housing markets to meet residents’ reasonable needs,” according to a report of the meeting on the official wire service Xinhua Friday.”
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein