s we have greatly detailed since the EV evolution began, U.S. carmakers wasted tens of billions of dollars by misjudging the domestic market for EVs.
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CHINA’S DOMESTIC ECONOMY SLUMPS IN NOVEMBER
Last month, the growth in China’s factory output slowed to its weakest pace since September 2024 and retail sales were their most sluggish in the three years since Beijing ended the country’s rolling anti-COVID lockdowns, according to the National Bureau of Statistics.
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CHINA’S EXPORTS TO SOUTHEAST ASIA GROW BY 25 PERCENT
As Donald Trump’s trade war slashes China’s trade with the U.S., the world’s second-largest economy has added about 25 percent to its trade volume with the rest of Southeast Asia, the Financial Times reported.
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GERMANY WILL ONLY RECOVER SLOWLY FROM RECESSION, BANK FORECASTS
Germany’s economy will need much of 2026 to emerge from its multiyear recession, the country’s central bank has said, frustrating hopes for a quick growth spurt sparked by Chancellor Friedrich Merz’s €1-trillion-plus spending splurge on infrastructure repair and military readiness.
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EUROZONE FACTORY OUTPUT RISES, STRENGTHENING SIGNS OF RECOVERY
In October, industrial production across the 20-country Eurozone grew 0.8 percent from September, which had shown a 0.2-percent gain, the European Union’s statistics agency reported on 15 December.
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NON-BANKS HOLD MORE THAN HALF THE WORLD’S FINANCIAL ASSETS
For the first time since the COVID War, hedge funds, insurance companies, money market funds, mutual funds, private equity firms, and other financial institutions that are not banks hold more than half of the world’s financial assets, according to the intergovernmental Financial Stability Board (FSB).
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HEATING FUEL SUPPLIES TIGHTEN AS TEMPERATURES FALL
This winter heating season, Americans will pay about 9.2 percent more for the electricity and natural gas that heat more than 90 percent of U.S. homes, bringing the cost of keeping warm this winter to about $1,000 per household, The New York Times reported.
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U.S. TRADE DEFICIT LARGELY UNCHANGED IN THIS YEAR’S FIRST HALF
By the end of this year’s second quarter, the U.S. trade deficit stood at 3.3 percent of GDP, close to its level a year earlier, according to an analysis by the Financial Times.
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U.S. HOME SALES RISE IN NOVEMBER
Last month, sales of existing U.S. homes edged up 0.5 percent from October’s total but fell 1 percent short of the figure in November 2024, the National Association of Realtors reported.
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DID INFLATION’S PACE EASE IN NOVEMBER?
The U.S. Consumer Price Index increased by 2.7 percent in November, down from 3.0 percent in September, the Bureau of Labor Statistics (BLS) reported.