Private businesses in the US added 146K workers to their payrolls in November 2024, the least in three months, following a downwardly revised 184K rise in October, and slightly below forecasts of 150K. The service-producing sector added 140K jobs, led by education/health services (50K); trade/transportation/utilities (28K); professional/business services (18K); leisure/hospitality (15K); financial activities (5K) and information (4K). The goods-producing sector added 6K jobs, of which 30K in con

The S&P Global US Composite PMI Output Index climbed to 54.9 in November, a 31-month high, up from 54.1 in October but below the preliminary estimate of 55.3. The reading indicates a strong monthly rise in overall output, driven primarily by the services sector (PMI at 56.1), while manufacturing output continued to decline (PMI at 49.7). However, there were signs of demand stabilizing in manufacturing. The combination of robust growth in services and improving demand lifted overall new orders to their highest level in two and a half years. Meanwhile, output prices increased at their slowest rate in four and a half years.

The S&P Global US Services PMI was revised lower to 56.1 in November 2024 from a preliminary of 57, but was still above 55 in October. The reading pointed to the biggest growth in the services sector since March 2022, as both business activity and new orders accelerated. Some firms indicated that the result of the Presidential Election, and end of the uncertainty that had been evident in the lead-up to the vote, had provided the impetus for customers to commit to new orders. In some cases, lower interest rates had contributed to the rise in new business. Companies remained wary of committing to new hires, however, and lowered employment marginally again. This contributed to an accumulation of outstanding business. While input costs continued to increase sharply, the pace of inflation eased and output prices rose at the slowest pace in four-and-a-half years. In addition, companies remained optimistic that business activity will increase over the coming year.

BENGALURU (Reuters) - The European Central Bank will trim 25 basis points (bps) from its deposit rate on Dec. 12, according to all but two of 75 economists polled by Reuters, and at least 100 bps more next year as the economy slows and fears mount about U.S. tariffs.

For now, the ECB is unlikely to react to heightened political turmoil in Europe - the French government collapsed as expected on Wednesday.

U.S. President-elect Donald Trump's proposed tariffs, and whether they trigger a wider tra

Initial Jobless Claims in the United States increased to 224 thousand in the week ending November 30 of 2024 from 213 thousand in the previous week. Initial Jobless Claims in the United States averaged 363.45 Thousand from 1967 until 2024, reaching an all time high of 6137 Thousand in April of 2020 and a record low of 162 Thousand in November of 1968. 

WASHINGTON, Dec 5 (Reuters) - U.S. President-elect Donald Trump said on Thursday he has chosen former Senator David Perdue to be ambassador to China, tapping a former politician with business experience to help steer relations riven by deep mistrust and trade tensions.
"He will be instrumental in implementing my strategy to maintain Peace in the region, and a productive working relationship with China's leaders," Trump said in a post on his social media platform Truth Social.

Non Farm Payrolls in the United States increased by 227 thousand in November of 2024. Non Farm Payrolls in the United States averaged 125.54 Thousand from 1939 until 2024, reaching an all time high of 4615 Thousand in June of 2020 and a record low of -20477 Thousand in April of 2020

US Hiring Rebounds, Tops Forecasts
United States Non Farm Payrolls
The US economy added 227K jobs in November 2024, marking a strong recovery from the upwardly revised 36K gain in October, which was heavily influenced by Boeing strikes and the disruptions caused by Hurricanes Helene and Milton. Figures came better than market forecasts of 200K, as employment trended up in health care, leisure and hospitality, government, and social assistance. Also, employment increased in transportation equipment manufacturing, reflecting the return of workers who were on strike.

Malaysia's Jan-Nov trade rises 8.7 pct to RM2.62 trillion
NST Wed, Dec 18, 2024 12:21pm - 11 minutes


KUALA LUMPUR: Malaysia's trade from January to November 2024 reached its highest value ever for the 11-month period, growing by 8.7 per cent to RM2.62 trillion compared to the same period in 2023, said the Ministry of Investment, Trade, and Industry (MITI).

Exports rose by 4.7 per cent to RM1.36 trillion, while imports grew by 13.3 per cent to RM1.25 trillion, resulting in a trade surplus of RM117.94 billion.

"This positions the country on track to meet the Ministry of Finance's (MOF) growth forecast for trade, exports, and imports in 2024, which are set at 9.4 per cent, 5.6 per cent, and 13.8 per cent, respectively," it said.

In November 2024, trade recorded the 11th successive month of year-on-year (y-o-y) growth, expanding by 2.9 per cent to RM237.85 billion.

Exports increased for the second consecutive month, growing by 4.1 per cent to RM126.57 billion, and imports were higher by 1.6 per cent to RM111.28 billion.

The trade surplus recorded double-digit growth, rebounding by 26.3 per cent to RM15.29 billion, the highest value recorded in 14 months since October 2023 and the 55th successive month of surplus since May 2020.

According to MITI, the strong exports in November 2024 were supported by robust growth in key sectors, notably manufactured and agricultural goods, particularly electrical and electronic (E&E) products, palm oil and palm oil-based agricultural products, as well as machinery, equipment, and parts.

"Meanwhile, exports to the United States (US) surged to a new record high, while exports to Taiwan, Province of China (POC), grew significantly, fuelled by rising demand for E&E products, notably semiconductor devices and integrated circuits (ICs)," it said.

The ministry noted that the World Semiconductor Trade Statistics (WSTS) Organisation has revised upwards its global semiconductor sales projection for 2024 to 19 per cent from 16 per cent due to stronger performance in the E&E sector.

"While there have been positive developments in the nation's export performance, MITI and the Malaysia External Trade Development Corporation (MATRADE) are committed to further boosting export growth by proactively intensifying promotional efforts and exploring new markets for the success of Malaysian exports," it added.

Aluminium products maker Winstar Capital Bhd (KL:WINSTAR) is expecting sales to grow in 2025, with the removal of China’s export tax rebates for aluminium products, and the upcoming implementation of the fifth iteration of Malaysia’s large scale solar programme (LSS5).

On Dec 1 this year, China removed the tax incentives not only for aluminium, but also copper, and certain oils and fats. It also lowered the rebate rates for refined oil, photovoltaic products and batteries from 13% to 9%. China

aluminium extrusion expected to grow strongly in 2025 after China removal of tax rebates for aluminium products n upcoming lss5. This is also super good news to Notion this could mean it has super high chance to secure the 500M aluminium extrusion projects from China partners.