Germany’s industrial production sector was seen falling by 0.5% on the month which missed estimates of a 0.3% increase. The declines follow a 0.1% increase previously.
The Eurozone’s final employment change figures showed a 0.2% increase in matching estimates while the final revised GDP was unchanged at 0.2% for the third quarter.
The U.S. unemployment rate was steady at 3.7% as the economy added 155k jobs during the month. Previous month’s data was revised down to 237k. Average earnings grew by 0.2% pushing the annualized wage growth rate to 3.0%.
Canada’s jobs data, also released on Friday showed that the economy added a net gain of 94.1k jobs for November. The unemployment rate fell to 5.6% marking a historically new low amid forecasts of an unchanged print at 5.8%.
Over the weekend, China’s inflation figures showed that headline CPI rose 2.2% on the year in November. The median estimates forecast a 2.4% increase. Producer prices increased 2.7% amid forecasts of a 2.8% increase. Looking ahead, Japan’s final GDP data showed a 0.6% decline. This was a slightly revised GDP figure compared to a 0.5% decline as per the second estimates.
The European trading session will kick off with the monthly GDP numbers from the UK. Economists forecast a 0.1% increase on the month after the GDP flatlined previously. Manufacturing production is expected to remain flat while construction output is forecast to fall by 0.4%.
