Dear Reader,

Today's overview of economic news and market action:

• • Investor sentiment was somewhat mixed yesterday … 
  • Eurozone futures softened yesterday …
  • Currency-wise, the dollar was on the front foot …
  • Elsewhere, the euro was under some downward pressure …
  • Sees EUR/USD open below the $1.08 threshold … 
  • EUR/GBP is back close to the midpoint of 85-86p … 
  • GBP/USD is operating down in and around $1.26 …
  • Relatively sparse data schedule ahead …

Labouring the Point

National Accounts data show that GDP is in decline, but this largely relates to a fall in contract manufacturing activity abroad by Irish based companies 

Latest survey data from the AIB Ireland Manufacturing PMI® highlighted a stabilisation in overall business conditions, following modest downturns in September and October.

Service sector expansion accelerates in November

Rates of expansion in total activity and new business both accelerated on the month for the first time since April, with a notable rebound in the Transport, Tourism & Leisure sector.

On the Job National

Accounts data show that GDP is in decline, but this largely relates to a fall in contract manufacturing activity abroad by Irish based companies. The latest labour market data, by contrast, point to a still strong Irish economy.