Weekly Summary

Most Outstanding Points of the Week

• In the United States, December retail sales rose 0.6% and exceeded expectations of 0.4%. For the full year 2023, sales advanced 5.6%.
  
• In the United States, the fourth quarter 2023 reporting season is in a preliminary stage. So far, the sample is 6% ahead, with 66% reporting higher earnings than expected.
  
• In China, the economy grew 5.2% during the last three months of last year, below expectations of 5.3%.

• In Mexico, consumer confidence reached a level even higher than pre-Covid-19 pandemic records.

Important Events in the Coming Weeks

• In Europe, monetary policy announcement will be made 01/25
• In the United States, the 4Q23 GDP to be released 01/25 

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Most Outstanding Points of the Week

• In the United States, December inflation accelerated 0.3%, exceeding the 0.2% estimate. With this, annual inflation stood at 3.4% (versus the 3.2% estimate and 3.1% in November).
  
• In the United States, the 4Q23 quarterly reporting season began with reports from banks such as JP Morgan, Citi, Bank of America and Wells Fargo; overall they showed weak results.
  
• In China, exports rose 2.3% annually in December, up from 0.5% growth in November and an expected 1.7%.

• In Mexico, inflation accelerated for the second consecutive month in December, registering a monthly variation of 0.71%. Thus, the year 2023 ended with an annual rate of 4.66%. 

Important events in the coming Week

• In the United States, the Martin Luther King, Jr. holiday will be celebrated. 01/15
• In the U.S., Beige Book and consumer confidence to be released 01/17-19

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Most Outstanding Points of the Week

• In the United States, non-farm payrolls revealed the creation of 216,000 jobs in December, exceeding expectations of 168,000. Meanwhile, the unemployment rate remained at 3.7%.
  
• In the United States, the FED minutes showed that there is still a possibility of a reference rate cutback this year, although a message of caution prevailed.
  
• In China, manufacturing activity contracted for the third consecutive month in December and came in weaker than consensus expectations.
  
• In Mexico, the government carried out a global issuance that reached US$7.5bn (the largest so far in this administration) through the placement of three bonds at different maturities. 

Important Events in the Coming Weeks

• In the U.S., several members of the FED will hold speeches 01/08 – 12
• In the US, December inflation to be released 01/11

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