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Main themes:
- The US third-quarter GDP was revised slightly lower to 3.4 percent annualized rise while durable goods orders excluding transportation fell -0.3 percent m/m.
- The New York Federal Reserve President John Williams said the Fed is having eyes wide open about the balance sheet as he expects “above trend” US growth and solid wage gains in 2019. Williams reiterated that something like two rate hikes a year makes sense in the context of a strong economy.
- Trump supposedly discusses firing Federal Reserve Bank Chairman Jerome Powell after the December rate hike.
UK
- UK third-quarter GDP is expected to confirm 0.6 percent Q/Q increase with the fourth quarter slowdown forecast by the Bank of England at 0.2 percent Q/Q. The business investment is expected to fall -1.2 percent Q/Q.
Canada
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- Canada’s retail sales increased by 0.3 percent m/m in November while core retail sales stagnated over the month.
- Canada’s third-quarter GDP rose unexpectedly strongly by 0.3 percent m/m in October.
US
- The US third-quarter GDP was revised slightly lower to a 3.4 percent annualized growth rate.
- The US durable goods orders ex-transport fell -0.3 percent m/m in November missing the market forecast.
- The New York Federal Reserve President John Williams said the Fed is having eyes wide open about the balance sheet as he expects “above trend” US growth and solid wage gains in 2019. Williams reiterated that something like two rate hikes a year makes sense in the context of a strong economy.
- Cleveland Federal Reserve Bank President Loretta Mester sees US economy performing quite well with strong job growth.
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