November 30, 2023
United States:
US Consumer Spending, Inflation Slow in Sign of Cooling Economy
US consumers dialed back their spending in October from the prior month as inflation continued to cool, suggesting the economy is shifting into a lower gear.
Inflation-adjusted personal spending rose 0.2% last month after a downwardly revised 0.3% advance in September, according to the Bureau of Economic Analysis.
Europe:
Euro-Zone Crisis Doom Loop Revisited by S&P in Warning for 2024
Euro-zone countries haven’t broken the link between public finances and banks that dominated the region’s sovereign debt crisis, and investors could refocus on that vulnerability next year, S&P Global Ratings said.
Despite the establishment of common supervision and resolution mechanisms aimed to eradicate such dangers, the entangled relationship that bred turmoil in several members of the single currency is “here to stay,” the company said in a report on Thursday.
Asia:
India Economic Growth Beats Estimates as Manufacturing Gains
India’s economy grew at a much faster pace than analysts predicted, as manufacturing surged and the government boosted spending before elections.
Gross domestic product rose 7.6% in the three months to September from a year ago, according to government data released Thursday, higher than any of the estimates in a Bloomberg survey of economists. The figure was also significantly above the Reserve Bank of India’s projection of 6.5%.
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