January 5, 2024
United States:
US Payrolls Pick Up, Wages Gain as Labor Market Stays Solid
US job growth picked up in December and wage gains exceeded expectations, diminishing prospects for a Federal Reserve interest-rate cut in March.
Nonfarm payrolls increased 216,000 after a downwardly revised 173,000 advance in November, a Bureau of Labor Statistics report showed Friday. The unemployment rate held at 3.7% as the workforce shrank. Average hourly earnings rose 0.4% from a month earlier.
Europe:
Russian Fuel Exports Hit Eight-Month High
Russia’s oil-product exports climbed to the highest since April on a four-week average basis, buoyed by a sharp rebound in fuel oil shipments.
Refined fuel flows averaged almost 2.7 million barrels a day in the four weeks to Dec. 31, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. That’s about 152,000 barrels, or 6%, higher than the previous week.
Asia:
India Forecasts Faster-Than-Expected Growth on Spending Boom
India forecasts growth will outstrip the consensus by a wide margin, as a boom in private and government expenditure keeps the South Asian nation on track to be the world’s fastest-expanding major economy.
The first official estimate for gross domestic product released Friday pegged growth at 7.3% in the year through March, faster than the Reserve Bank of India’s 7% projection and the 6.7% estimate in a Bloomberg survey of economists. The economy had grown 7.2% last year.
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