French industrial production increased more than expected in November 2022. This was revealed Tuesday by figures from the French statistics office Insee. Industrial production rose 2.0% month-over-month in November after a 2.5% decline in October. The manufacturing sector saw a 2.4% month-over-month increase in production in November after a 2.1% decline in October. On an annualized basis, industrial production fell 0.1% in November. In contrast, manufacturing production rose 2.8%.
The World Bank has lowered its forecast for the global economy this year as persistently high inflation increases the risk of a global recession. The bank expects growth to slow to 1.7 percent by 2023. In June, the forecast was still 3 percent. That would make it the third weakest year for the global economy in nearly three decades, overshadowed only by the recession in 2009, due to the financial crisis, and the recession in 2020 due to the coronavirus.
Wholesale inventories in the United States rose in November on a monthly basis in line with expectations. This was revealed Tuesday by figures from the US Department of Commerce. On a monthly basis, inventories increased by 1.0 percent. Economists had also forecast a 1.0 percent increase in advance. On an annual basis, wholesale inventories rose 20.9 percent in November. Wholesale sales fell 0.6 percent on a monthly basis, but rose 8.7 percent on a yearly basis.
The 6M Euribor is unchanged at 2.81% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.91% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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