Macroeconomics

The economic world delivered mixed information. The emerging markets continued to show healthy growth and industrial production rates (Indonesia, Philippines, Korea, etc), and the euro zones are also finally reporting better data at last. Japan – which has been favoured for some time by the economists - is now the lame duck. Germany is making serious attempts to get out of the doldrums, and the business confidence index rose to 98.7 in October which is pretty high especially considering the structural problems the country is still dealing with and the fact that a new government is not yet in place. Other countries in the euro zone are also showing promise with Italy and France reporting rising business confidence levels too.

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