Next Week News

India's economic growth improved strongly to 8.4 percent year-on-year in the December quarter from 7.6 percent in the previous three months, preliminary estimates from the statistics ministry showed Thursday. Economists had forecast the growth rate to slow to 6.6 percent.

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South Korea's gross domestic product expanded a seasonally adjusted 1.3 percent on quarter in the first three months of 2024, the Bank of Korea said on Thursday.

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The strong set of employment figures released on Friday have sent market expectations for Fed rate cuts lower as the data pointed to a strong labor market and the increase in wages could add to the stickiness of inflation. Non-farm payroll employment surged by 272,000 jobs in May, data from the Labor Department showed Friday. Economists had forecast employment growth of about 185,000 jobs.

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The Federal Reserve on Wednesday announced its widely expected monetary policy decision to leave interest rates unchanged. The Fed acknowledged "some further progress" toward its inflation objective but reiterated officials need "greater confidence" inflation is moving sustainably toward 2 percent before cutting rates

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Mexico's consumer price inflation increased as expected in July to the highest level in more than a year. The consumer price index climbed 5.57 percent year-on-year in July, faster than the 4.98 percent rise in June.

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Swiss consumer confidence index dropped to -35.0 from -32.0 in July. The expected score was -33.0. Moreover, the consumer sentiment index remained below the long-term average. Among components, the index measuring expected economic activity over the next year worsened to -22 from -16, and the past financial situation fell to -37.0 from -31.6.

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A "substantial majority" of Fed policymakers supported an interest rate cut in September as they assessed that risks to the employment and inflation goals were almost in balance, the minutes of the latest rate-setting session showed on Wednesday.

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With increases in healthcare and government jobs partly offset by decreases in temporary and manufacturing jobs, the Labor Department released a report on Friday showing employment in the U.S. edged only slightly higher in the month of October. The Labor Department said non-farm payroll employment crept up by 12,000 jobs in October compared to economist estimates for the addition of 113,000 jobs.

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With the effects of recent hurricanes and the since-resolved strike at Boeing (BA) continuing to weigh on growth, the Federal Reserve released a report on Friday showing U.S. industrial production decreased in line with economist estimates in the month of October.

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