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In October 2009 the working day and seasonally adjusted current account of the euro area recorded a deficit of EUR 4.6 billion. In the financial account, combined direct and portfolio investment recorded net inflows of EUR 18 billion (non-seasonally adjusted).

The extraordinary remedial actions taken by central banks and governments since late last year have been successful in restoring confidence in, and improving the resilience of, financial systems around the world. Financial system support measures have been addressing the funding challenges of key financial institutions and have bolstered their capital positions. These measures, together with sizeable macroeconomic policy stimuli, set in motion a mutually reinforcing process between financial system conditions and real economic performance, fostering improving business cycle prospects, as well as a fading of systemic risk.

The Conference Board Leading Economic Index™ (LEI) for Germany increased 0.6 percent and The Conference Board Coincident Economic Index™ (CEI) decreased 0.3 percent in October.

Consumer confidence in the overall economy remained level in December, while confidence in consumer electronics (CE) and technology declined from last month’s record high, according to figures released by the Consumer Electronics Association (CEA)® and CNET.

First Advantage Corporation, a global risk mitigation and business solutions provider, announced the release of its first Screening Benchmark Report for the Retail Industry. The report provides employers in the retail industry with an overview of the employment screening results for the first three quarters of 2009 for many of the nation's top retailers, and serves as a potentially insightful tool to assist retail employers in the evaluation of their own employment screening programs.

Consumer delinquency rates for bankcards, first mortgages and home equity lines of credit again rose month-to-month in November, according to Equifax Inc.'s monthly Credit Trend Report.

The Conference Board Leading Economic Index™ (LEI) for Australia declined 0.3 percent and The Conference Board Coincident Economic Index™ (CEI) increased 0.1 percent in October.

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased five basis points last week to 4.77 percent, up from 4.72 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages rose three basis points to 4.24 percent from 4.21 percent, and 5-1 adjustable rate mortgages increased four basis points to 3.85 percent, from 3.81 percent the week prior.

Despite reports of growing protectionist and nationalistic sentiment prompted by the global recession, world business leaders believe that migration continues to be good for business and the economy, according to a survey conducted by the Economist Intelligence Unit on behalf of Western Union. More than three in four corporate leaders, or 76 percent, say that foreign workers have a positive impact on the economy and nearly as many (71 percent) agree that foreign workers provide competitive advantages. Further, more than half, or 57 percent, say that the recession has not prompted changes to the hiring practices of foreign workers. Survey respondents included 501 global business leaders, of which 43 percent were C-level executives.

What has come to be termed as the "Great Recession" seems to have come to an end in the third quarter of 2009. The rebound in activity reflects improvements in the external environment, in financial conditions and in confidence. But the outlook remains uncertain as the rebound is underpinned by the massive support provided by governments and central banks worldwide which eventually will have to be scaled back and depends on the ability of the banking sector to increase the present levels of lending to the economy. The continued, albeit more moderate, increase in unemployment is a source of concern both socially and economically.