Overseas Headlines – January 27, 2021

United States:

Consumer Confidence in U.S. Improves on Outlook for Economy

“U.S. consumer confidence rose in January as Americans grew more upbeat about the outlook for the economy and job market in light of further fiscal aid and the distribution of coronavirus vaccines. The Conference Board’s index of sentiment increased to 89.3 from a revised 87.1 reading in December, according to a report on Tuesday. The median forecast in a Bloomberg survey of economists called for a reading of 89.”



U.K. Jobs Market Better Than Feared During November Lockdown

“The U.K. labor market proved more resilient than expected in the three months to November as an extension of government aid helped protect jobs amid a widespread lockdown. The nation’s unemployment rate climbed to 5% in the period, the highest since 2016 but lower than the 5.1% predicted by economists, the Office for National Statistics said Tuesday. The number of people in work fell by 88,000, the least since July, while the pace of increase for job cuts slowed.”



China Won’t Exit From Stimulus Prematurely, PBOC’s Yi Says

“China’s central bank won’t exit “prematurely” from its supportive monetary policies while at the same time keeping debt risks under control, Governor Yi Gang said. Monetary policy will continue to “prop up the economy,” Yi said on a panel hosted by the World Economic Forum Tuesday. Officials will remain mindful of risks, such as a rising macro leverage ratio and higher non-performing loans, he said.”




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