November 7, 2024
United States:
US Initial Jobless Claims Tick Up, Remaining at Pre-Covid Levels
Applications for US unemployment benefits ticked up last week, remaining near average pre-pandemic levels.
Initial claims increased by 3,000 to 221,000 in the week ended Nov. 2. That was roughly in line with the median forecast in a Bloomberg survey of economists.
Europe:
ECB’s Knot Is Optimistic on Outlook for Euro-Zone Economy
European Central Bank Governing Council member Klaas Knot said he’s upbeat on the prospects for the region’s economy as inflation moderates and borrowing costs fall.
The recent period of sluggish growth was due to monetary-policy tightening aimed at wresting back control over consumer prices, the Dutch official said Thursday. He described rising confidence that inflation will sustainably meet the 2% target.
Asia:
China Export Growth Jumps to Two-Year High as Tariff Risks Loom
China’s export growth surged in October to the fastest since July 2022, extending a months-long boost to the economy that may be jeopardized by Donald Trump’s re-election and his tariff threats.
Exports rose 12.7% from a year earlier to $309 billion, the customs administration said Thursday, significantly exceeding any economist’s forecast.
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