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Inflation Fears Nudge Mortgage Rates Higher

added: 21-12-2007

Fixed mortgage rates moved higher for the second consecutive week, with the average conforming 30-year fixed mortgage rate now at 6.21 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.35 discount and origination points.

The Final Week of Pre-Christmas Shopping Opens With Strong Online Retail Spending

added: 21-12-2007

comScore, Inc. released an update of holiday season e-commerce spending for the first 48 days of the November - December 2007 holiday season (November 1 - December 18). Nearly $25 billion has been spent online during the season-to-date, marking a 19-percent gain versus the corresponding days last year, surpassing the total spending that occurred for the entire 2006 holiday season.

Euro Area Balance of Payments in October 2007

added: 21-12-2007

The working day and seasonally adjusted current account of the euro area recorded a surplus of EUR 1.3 billion in October 2007, since surpluses in goods, services and income offset a deficit in current transfers. Combined direct and portfolio investment recorded net outflows of EUR 33 billion, as net outflows in portfolio investment exceeded net inflows in direct investment. The latter developments were influenced by a large take-over involving both euro area and non-euro area financial institutions.

The Conference Board U.S. Leading Index Decreased Sharply for the Second Consecutive Month

added: 21-12-2007

The Conference Board announced that the U.S. leading index decreased 0.4 percent, the coincident index increased 0.2 percent and the lagging index increased 0.2 percent in November.

Economy Continues to Slow, Recession Unlikely in '08

added: 21-12-2007

The fallout from the housing slump and the so-called "credit crunch" will prove less severe than many fear, said Wells Fargo's senior economists during the company's annual economic forecast teleconference earlier this week.

EU Real Agricultural Income Per Worker Up by 4.7%

added: 20-12-2007

EU27 real agricultural income per worker has risen by 4.7% in 2007, after increasing by 3.9% in 2006. This increase results from a growth in real agricultural income (+2.6%), together with a reduction in agricultural labour input (-1.9%).

Consumers in the Mood to Spend at the End of the Year

added: 20-12-2007

The consumer climate has stabilized. This is primarily the result of a marked increase in consumer propensity to buy in December. Conversely, economic and income expectations saw another slight decrease. After a revised 4.4 points in December, the GfK consumer climate forecasts a value of 4.5 points for January 2008.

Korea "could do more" to Enhance Job Prospects for its Young Generation, says the OECD

added: 20-12-2007

Labour market outcomes for young people in Korea deteriorated in the aftermath of the financial crisis of the late 1990s. Though the government has introduced a wide range of measures since the early 2000s, much remains to be done to restore the dynamism of the youth labour market, according to a new OECD report.

MEPs and MPs Debate Culture's Contribution to Jobs and Growth

added: 20-12-2007

The need to harness education and culture to the EU's jobs and growth strategy, even though treating culture as an economic engine might distort its very nature, was debated in depth by MEPs and MPs at a joint committee meeting on education and culture in the European Parliament on 18 and 19 December.

Trichet on Interest Rates, Inflation and Financial Turbulence

added: 20-12-2007

Jean-Claude Trichet told the Economics Committee on Wednesday that the "hump" in inflation would be longer than previously projected and risks were on the upside. Growth for the eurozone should be at around potential in the year ahead, but risks to that projection were on the downside. The continuing turbulence in financial markets also featured strongly in the final "monetary dialogue" with the European Central Bank President of 2007.

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