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Annual inflation up to 2.2% in the euro area

The euro area annual inflation rate was 2.2% in October 2018, up from 2.1% in September 2018. A year earlier, the rate was 1.4%. European Union annual inflation was also 2.2% in October 2018, up from 2.1% in September 2018. A year earlier, the rate was 1.7%. These figures are published by Eurostat, the statistical office of the European Union.Original link
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NOV
16
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Total agricultural output in the EU up by 6.2% in 2017 compared with 2016

The economic accounts for agriculture show that total agricultural output in the European Union (EU) stood at €432.6 billion in basic prices in 2017, up by 6.2% compared with 2016. In 2017, the equivalent of 56% (or €244.1 bn) of the value of agricultural output generated was spent on intermediate consumption (input goods and services), while gross value added (i.e. the value of output minus the value of intermediate consumption) was the equivalent of 44% (or €188.5 bn).Original link
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NOV
16
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Week Ahead Economic Preview: Week of 19 November 2018

Flash PMI surveys offer insights into Q4 economic performanceof major economiesIHS Markit Business Outlook surveys provide clues of globalbusiness expectationsJapan CPI and trade updates

The release of flash PMI surveys in the coming week will provideimportant steers for the economic performance of major economiesmidway through the fourth quarter. The tri-annual Business OutlookSurvey will meanwhile offer a more sentiment-based view of globalbusiness conditions.

Official data highlights include durable goods and housing datafor the US, plus an updated estimate of German GDP. In Asia, keyreleases include Japan's inflation and trade numbers, as well asTaiwan's export orders and Thailand's GDP data. The minutes ofRBA's November meeting will meanwhile be scoured for clues of thenext Australian interest rate move.

Flash PMIs and outlook surveys

The week starts with publication of IHS Markit's Global BusinessOutlook Survey and ends with November's flash PMIs, collectivelyproviding a valuable insight into current and future economictrends around the globe.

Conducted three times per year and based on data collected from12,000 companies worldwide, the Global Outlook Survey is thelargest of its kind, asking PMI survey respondents to report ontheir plans for the year ahead, including production, capex, hiringand pricing plans. As such, the survey forms a naturalopinion-based complement to the monthly fact-based PMI surveys.

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NOV
16
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Week Ahead Economic Review

Flash PMI surveys offer insights into Q4 economic performanceof major economiesIHS Markit Business Outlook surveys provide clues of globalbusiness expectationsJapan CPI and trade updates

The release of flash PMI surveys in the coming week will provideimportant steers for the economic performance of major economiesmidway through the fourth quarter. The tri-annual Business OutlookSurvey will meanwhile offer a more sentiment-based view of globalbusiness conditions.

Official data highlights include durable goods and housing datafor the US, plus an updated estimate of German GDP. In Asia, keyreleases include Japan's inflation and trade numbers, as well asTaiwan's export orders and Thailand's GDP data. The minutes ofRBA's November meeting will meanwhile be scoured for clues of thenext Australian interest rate move.

Flash PMIs and outlook surveys

The week starts with publication of IHS Markit's Global BusinessOutlook Survey and ends with November's flash PMIs, collectivelyproviding a valuable insight into current and future economictrends around the globe.

Conducted three times per year and based on data collected from12,000 companies worldwide, the Global Outlook Survey is thelargest of its kind, asking PMI survey respondents to report ontheir plans for the year ahead, including production, capex, hiringand pricing plans. As such, the survey forms a naturalopinion-based complement to the monthly fact-based PMI surveys.

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NOV
16
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Australian National Accounts: Input-Output Tables (Product Details)

Input-Output tables detail the structure of the economyOriginal link
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NOV
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Australian National Accounts: State Accounts

NOTES

ABOUT THIS PUBLICATION

This publication contains state and territory estimates of Gross domestic product (referred to as gross state product (GSP)) and its components, in current price and volume terms, for the years 1989-90 to 2017-18.

CHANGES IN THIS ISSUE

The estimates in this issue incorporates new and revised national estimates as published in the 2017-18 Australian System of National Accounts (cat. no. 5204.0). This includes the incorporation of the 2016-17 annual supply and use tables. For more information on the role of the supply and use tables in the national accounts and the major revisions please see the 'Analysis of Results' section within the ASNA 5204.0 publication. These revisions, spanning the entire time series, are necessary in order to reflect changes in methods, concepts, classifications and data sources and to maintain consistent time series.

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NOV
16
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Federal Reserve to review strategies, tools, and communication practices it uses to pursue its mandate of maximum employment and price stability

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The Federal Reserve next year will review the strategies, tools, and communication practices it uses to pursue its congressionally-assigned mandate of maximum employment and price stability. The review will include outreach to a broad range of interested stakeholders.

"With labor market conditions close to maximum employment and inflation near our 2 percent objective, now is a good time to take stock of how we formulate, conduct, and communicate monetary policy," said Federal Reserve Chairman Jerome H. Powell.

As part of the outreach effort, the Federal Reserve System will sponsor a research conference June 4-5, 2019, at the Federal Reserve Bank of Chicago, with speakers and panelists from outside the System. Additionally, Reserve Banks will host a series of public events around the country to hear from a wide range of stakeholders.

Beginning around the middle of 2019, Federal Reserve policymakers will discuss the perspectives offered during the outreach events as part of their review of how to best pursue the Fed's statutory mandate. At the end of the process, policymakers will assess the information and perspectives gathered during the year of review and will report their findings.

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NOV
15
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Local Area Personal Income, 2017

Personal income increased in 2,787 counties, decreased in 318, and was unchanged in 8 in 2017, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Personal income increased 4.5 percent in the metropolitan portion of the United States and increased 3.2 percent in the nonmetropolitan portion in 2017. The change in personal income ranged from -41.4 percent in Slope County, North Dakota to 23.7 percent in Crosby County, Texas in 2017 (BEA interactive data).

Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or unincorporated business, from the ownership of financial assets, and from government and business in the form of transfer receipts. It includes income from domestic sources as well as from the rest of the world.

The total dollar levels of personal income ranged from $6.1 million in Loving County, Texas to $593.7 billion in Los Angeles County, California in 2017.

Per capita personal income–personal income divided by population–is a useful metric for making comparisons of the level of personal income across counties. Table 1 presents estimates of per capita personal income by state and county. In 2017, it ranged from $11,937 in Issaquena County, Mississippi to $233,860 in Teton County, Wyoming. Per capita personal income exceeded $100,000 in 12 counties: Teton, Wyoming; New York, New York; Pitkin, Colorado; Bristol Bay, Alaska; Marin, California; Summit, Utah; San Francisco, California; Nantucket, Massachusetts; San Mateo, California; Fairfield, Connecticut; Blaine, Idaho; and Westchester, New York.

The county personal income estimates released today continue the successively more detailed series of data releases from BEA depicting the geographic distribution of the nation's personal income for 2017. National estimates of personal income for 2017 were first released in January 2018, followed by preliminary state personal income estimates in March. The personal income estimates released today provide the first glimpse of personal income for 2017 in counties and metropolitan statistical areas. The geographic picture will be completed with the release of real personal income for states, metropolitan areas, and state metropolitan and nonmetropolitan portions on May 16, 2019.

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NOV
15
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Amounts sent to non-EU countries by EU residents up at €32.7 billion in 2017

In 2017, flows of money sent by residents of the European Union (EU) to non-EU countries, referred to as personal transfers, amounted to €32.7 billion, compared with €31.8 bn in 2016. Inflows to the EU totalled €10.7 bn in 2017, compared with €10.1 bn in 2016. This resulted in a negative balance (-€22.0 bn) for the EU with the rest of the world. The majority of personal transfers consist of flows of money sent by migrants to their country of origin.Original link
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NOV
15
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Euro area international trade in goods surplus €13.1 bn

The first estimate for euro area (EA19) exports of goods to the rest of the world in September 2018 was €184.8 billion, a decrease of 1.0% compared with September 2017 (€186.6 bn). Imports from the rest of the world stood at €171.7 bn, a rise of 6.4% compared with September 2017 (€161.3 bn).Original link
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