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5 things to know before the World Market opens 7th December 2022

by AgaBullion
5 things to know before the World Market opens 7th December 2022

1.Unemployment Rate (NOV) - Switzerland

In Switzerland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

2.Balance of Trade (OCT)- France

Since 2004, France has been recording trade deficits due the gradual erosion of the export-oriented industry, the appreciation of the euro and the increasing dependency on imports of energy and manufactured products. The biggest trade deficits were recorded with: China, Germany, the Netherlands, Italy and Belgium; while the biggest trade surpluses were recorded with: the United States, the United Kingdom, the Middle East, and Switzerland.

3.Retail Sales MoM (OCT) - Italy

In Italy, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Italy, Retail sales are seasonal, volatile and relatively important to the overall economy.

4.Growth Rate QoQ 3rd Est Q3 - Euro Area

The Euro Area is an economic and monetary union of 19 European countries that adopted the euro as their currency. It is the second largest economy in the world and if it was a country it would be the third most populous with 341 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 20 percent, 15 percent and 10 percent of the bloc’s GDP.

5.GDP Growth Rate QoQ Q3 - Greece

Greece has a service based economy and is one of the top tourist destinations in the world. Following the entry to the European Union in 1980 and the Euro Area in 2000, the Greek economy had been recording high rates of growth. Yet, as this expansion had been fueled mainly by the access to cheap credit and growth of public sector, in 2008 the budget deficit and sovereign debt reached unsustainable levels. As a result, Greece faced the worst crisis since 1974 and tough reforms enforced by the IMF and the European Commission as part of the bailout programme are taking place.

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