Overseas Headlines – February 05, 2021

United States:

U.S. Payrolls Miss Estimates After Bigger December Decrease

“The recovery in the U.S. labor market disappointed for a second month in January with only modest job growth that highlights persistently difficult prospects for millions of unemployed and bolsters calls for more stimulus. Nonfarm payrolls increased by just 49,000 after a downwardly revised 227,000 December decrease, according to a Labor Department report Friday. The unemployment rate fell to 6.3% as more people left the workforce.”



German Factory Orders Slide as Virus Forces Curbs on Activity

“German factory orders fell for the first time in eight months after the spread of the coronavirus forced the euro area’s biggest economy and many of its trading partners into lockdowns. Demand dropped 1.9%, damped by investment goods and orders from the euro area. Orders were still up more than 6% from the previous year.”



Japan Households Cut Spending in December Before Emergency

“Japan’s household spending edged down in December, falling for the first time in three months, before the spread of coronavirus forced the government to call another state of emergency early this year. Less spending on transportation and eating out were big factors pushing the overall figure down 0.6% compared with the prior year, with increasing outlays on furniture and education keeping the number from being worse, the ministry of internal affairs reported Friday. Economists had forecast a steeper overall fall of 1.8%.”




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