Key economic and market developments: A global perspective.
The first week of the year highlighted the resilience of the housing market in the U.S. and contractions in manufacturing in Europe and Asia. Key points:
Week of December 30 2024 to January 3 2025
Weekly Summary
United States: The week was marked by low market activity due to New Year celebrations. Regarding economic data: Pending home sales in November reached their highest level in 21 months and home prices increased by 3.6% year-over-year.
Europe: In Germany and France, industrial activity declined in December. Similarly, in the United Kingdom, manufacturing activity contracted at the fastest pace in 11 months.
Asia: In China, President Xi Jinping reiterated the need for more proactive and effective macroeconomic policies in 2025 to counter economic slowdown.
Latin America: According to the Bank of Mexico, international reserves hit a historic high in 2024, totaling $228.789 billion and PEMEX reported a 35% decrease in oil shipments to the U.S. through November of last year.
Important events in the next weeks
- In the United States, the ISM Services Index will be released on 01/07.
- In the United States, employment indicators will be published on 01/10.
Monitor
