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
Economics at heart of Ferguson incident (Herald Mail Media)
Turkey needs micro reforms for welfare: Minister (Hurriyet Daily News) Key is stability in Kurdish regions.
Moldova’s future in the balance after uncertain election result (The Conversation)
Hong Kong protest leader Joshua Wong goes on hunger strike (The Guardian)
Inward remittances expected to rise to $12 bln this year (Tuoi Tre News) Hat tip to Rob Carter.
The Mexican people continue the search for the 43 missing students (The Conversation)
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