Economic Update 11-24-2014
- A busy week of economic data releases: modest weaker industrial production and below consensus expected capacity utilization in October; absent deflationary risk, both domestic PPI and CPI in October came in slightly above the consensus expectation, but remained within the Fed’s inflation target.
- Mixed housing market data in October showed disappointing housing starts with stronger building permits number and an upside in existing-home sales.
- U.S. job markets continued to slowly improve as initial jobless claims stayed below 300k for the tenth week, the first such stretch since 2000. The 4-week moving average of continuing claims fell to its lowest level since January 2001.
- Fueled by major central banks’ further monetary easing commitments, global equity markets were generally up with EM outperforming domestic equity and EAFE stocks.
