What We Read Today 02 December 2014

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.

• Japan’s Recession Seen Shallower Than First Thought in Abe Boost (Keiko Ujikane, Bloomberg) Before you get too excited the headline refers to what a suvey of 12 economists said. They predict that the third quarter will see a decline of 0.6% rather than the initial estimate of 1.6%

• China November PMIs show economy cooling, argue for more stimulus (Reuters) November manufacturing PMI numbers for China are just at 50 (HSBC PMI), the dividing line between expansion and contraction or just above at 50.3 (Official PMI). Both numbers are multi-month lows.

• Black Friday Fizzles With Consumers as Sales Tumble 11% (Lauren Coleman-Lochner, Bloomberg) Six million fewer shoppers showed up than expected. Over the final four days of November retail sales were $50.9 billion in 2014 compared to $57.4 in 2013. Almost half of the $6.5 billion difference is accounted for by a $3 billion increase in online sales so far this season, from $19.7 billion in 2013 to $22.7 billion this year. Some more of the shortfall was undoubtedly the result of aggressive pre-Thanksgiving promotions this year. No sales figures were given for that.

• Behind Black Friday’s Disappointing Retail Sales Numbers (Julie Hyman, Bloomberg)

• Articles about events, conflicts and disease around the world

Ferguson

Economics at heart of Ferguson incident (Herald Mail Media)

Ebola

A 15-minute saliva test for Ebola would be a significant boost in the fight against outbreak (The Conversation)

Turkey

Turkey needs micro reforms for welfare: Minister (Hurriyet Daily News) Key is stability in Kurdish regions.

Ukraine

Ukraine Revolution Fails Business as Graft Envelops Bureaucracy (Bloomberg)

Russia

Russia Scraps EU Gas Link in Favor of Turkish Deliveries (Bloomberg)

Moldova

Moldova’s future in the balance after uncertain election result (The Conversation)

Hong Kong

Hong Kong protesters clash with police at government HQ (BBC News)

Hong Kong protest leader Joshua Wong goes on hunger strike (The Guardian)

Vietnam

Inward remittances expected to rise to $12 bln this year (Tuoi Tre News) Hat tip to Rob Carter.

Mexico

The Mexican people continue the search for the 43 missing students (The Conversation)

There are 12 articles discussed today ‘behind the wall’.

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