Global Economic Analysis and News of Note
- According to Reuters, Chinese imports increased 6.7 percent from November 2015 to November 2016, the fastest pace of growth in two years, while exports rose 0.1 percent. China’s trade surplus stood at $44.61 billion in November. The increase in imports was driven by strong demand for commodities, including iron ore, copper, crude oil, coal, and soybeans. Copper imports alone were up 31 percent.
- Manufacturing output in the United Kingdom fell 0.9 percent from September to October. The decline was the most significant in the last eight months and was much worse than analysts had expected. Overall industrial production was down 1.3 percent in October. Year-over-year, manufacturing output was down 0.4 percent while overall production was down 1.1 percent.
- Factory orders in Germany rose 4.9 percent between September and October, the largest increase in more than two years and well above the 0.9 percent increase that analysts had expected.