U.S. Review
Is Tapering on the Fed’s Gift List?
* November employment numbers were stronger than expected and the unemployment rate slid to a level once consistent with the end of quantitative easing.
* Housing market data are weaker than they were earlier in the year, but the recovery remains intact.
* The 2014 Economic Outlook Conference Call will be held Thursday, Dec. 12 at 1 p.m. EST. Please check our Website for more details.
Global Review
Global Economic Activity Continues to Expand
* The readings on the manufacturing and service sector PMIs in the United Kingdom remained at very high levels in November, suggesting that the British economy continues to enjoy solid economic growth. Real GDP growth in the Eurozone, although positive, appears to be much weaker at present. The Bank of England and the ECB decided to keep their main policy rates unchanged this week.
* Following very strong growth in Q2, real GDP in Brazil contracted modestly in Q3. A return to the boom-like conditions of 2004-2007 in Brazil does not appear to be in the cards.
Read the full report: Economic Research
Wells Fargo