GBP
U.K. manufacturing output rose the most in seven months in November, as total
industrial production suffered an unexpected decline due to maintenance at some
North Sea oil fields. Factory production increased 0.7 percent from
October, exceeding the 0.3 percent median forecast. However Industrial output
fell 0.1 percent, with oil and gas extraction dropping 5.5 percent, the most
since January.

Oil played a big part in the trade report and helped to narrow the goods-trade

GBP
U.K. manufacturing output rose the most in seven months in November, as total
industrial production suffered an unexpected decline due to maintenance at some
North Sea oil fields. Factory production increased 0.7 percent from
October, exceeding the 0.3 percent median forecast. However Industrial output
fell 0.1 percent, with oil and gas extraction dropping 5.5 percent, the most
since January.

Oil played a big part in the trade report and helped to narrow the goods-trade
gap to 8.8 billion pounds, the lowest deficit since March. Imports plunged
3.2 percent, as oil imports dropped 18.7 percent to the lowest since October
2010. The total trade deficit of goods and services narrowed to the least since
June 2013.

USD
A rise in employment and a falling jobless rate in December capped the best
year for the labour market since 1999 and reinforced the U.S. role as the
global economy’s stand out performer.

The 252,000 jobs added in December  followed a 353,000 rise the prior
month that was more than previously estimated. The jobless rate dropped to 5.6
percent, the lowest level since June 2008. The report wasn’t all good news as
earnings unexpectedly declined from a month earlier. 

About 3 million more Americans found work in 2014, the most in 15 years and a
sign companies are optimistic as U.S. demand will persist even as overseas
markets struggle. The drop in workers’ hourly wages means Federal Reserve
policy makers are less likely to move up the timing of an interest-rate
increase.

Job growth last month was highlighted by the biggest gain in construction
employment in almost a year. Factories, health care providers and business
services also kept adding workers in December. The combination of job
growth and cheaper gasoline will probably help stretch workers’ pay checks and
sustain consumer spending. Prices at the gas pump are at the lowest level since
2009.

Key
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