Confidence & Business Activity Both Up, Jobs Mixed
|U.S. Review
Confidence & Business Activity Both Up, Jobs Mixed
- The November jobs report was a mixed bag. The 178,000 increase was a shade weaker than expectations even as October's increase was revised lower by about 20,000 jobs. The unemployment rate fell to a cycle low of 4.6 percent but it came amidst another decline in participation.
- Jumping more than six points, consumer confidence rose to a fresh cycle high in November. Consumers reported feeling better about both their present and future situations.
- The ISM manufacturing index rose to 53.2 in November with production and new orders up over the month.
Global Review
Mixed Results On Global Economic Activity
- The week started with mixed results on global economic activity. On the positive side, the Chinese manufacturing sector saw a slight improvement in November when the manufacturing PMI increased to 51.7 from 51.2 in October as analysts were expecting a slight deterioration of the index.
- In Europe, the U.K. manufacturing sector seems to have weakened a bit further, looking at the November manufacturing PMI print, going from 54.2 in October to 53.4 in November.
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