Archive for November 17th, 2009

Deeper Analysis

Industrial Production and Other Reflections on Data Released This Morning

November 17, 2009

U.S. industrial output edged only 0.1% higher in October, a smaller gain than anticipated but still enough to place October’s level 0.9% above the third-quarter mean.  That’s not a bad start to the quarter.  Industrial production was 7.1% lower than a year earlier.  By comparison, the latest reported 12-month declines in Japan of 18.4%, Euroland […] More

Central Bank Watch

South African Interest Rate Held at 7.0%

November 17, 2009

Officials agreed to leave the South African Reserve Bank benchmark interest rate at 7.0%.  This matched the decisions at monthly meetings in October and September.  Officials also scrapped December’s scheduled meeting and decided to meet bi-monthly next year starting in January, thus reverting to a prior pattern of less frequent policy meetings.  The rate decision […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dollar Recovers Some Ground

November 17, 2009

The dollar has risen 1.0% against the Australian and Canadian dollars, 0.7% versus the Swiss franc, 0.6% against the kiwi and 0.5% relative to the euro.  It rose just 0.2% against sterling and is unchanged against the yen amid a flurry of risk aversion. Stocks are lower, with declines of 0.6% in Japan, 0.4% in […] More


GDP and Unemployment in the U.S., Euro Area, Japan, and Britain

November 17, 2009

The recession bottomed in the second quarter in the United States and Euroland, the first quarter in Japan, and was still going last quarter in the United Kingdom.  At those respective lows, real GDP had declined from peak by 8.4% in Japan, 6.0% in Britain, 5.1% in the euro area, and 3.8% in the United […] More