Market WATCh Weekly 17 December 2021

Market WATCh Weekly 17 December 2021

December 17, 2021

The Fed has accelerated the pace of QE tapering, as expected, with three fed funds rate hikes now projected by the FOMC. US retail sales and industrial production rose again in November, while US PMIs pointed to further strong expansion in December. US producer price inflation has reached another record high. Chinese activity data was mixed in November. Domestically, employment has fully recovered from the recent lockdowns over east and the unemployment rate has fallen back to 4.6%. NAB business conditions continued to improve in November but business and consumer confidence has slipped. Flash PMIs pointed to further solid growth in the Australian economic activity in December.

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