Economics Summary: Japan recession worst than thought

Revised figures revealed Q3 contraction larger than first thought. 

  • Japanese economy contracted 1.9 per cent between July and September; not 1.6 per cent. 

Oil Price continues downward trend

  • WTI at $64.55 a barrel, down almost 2 per cent; Brent trading down 2.4 per cent at $67.39. 

OECD indicators point towards slow European growth

  • Leading indicator points to slowing German and Italian growth; steady French momentum. 

China trade data for November disappoints markets

  • Chinese exports up 4.7 per cent y.o.y; analysts had expect upwards of 8 per cent increase.