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The US jobs report ended a year in which employment grew each month, though inconsistently, and at times raising questions over whether a recession loomed. However, the final two months showed a strong labour market as the Fed contemplates its next move on monetary policy. #USNonfarmPayrolls #JobCreation #ChartOfTheWeek

Some US manufacturers indicated that domestic demand conditions started to improve following the results of the presidential election. Growing confidence encouraged manufacturers to expand their workforce numbers in November, thereby ending a three-month run of job cuts. Source: S&P Global, Data compiled from 12-26 November 2024 #S&PGlobal #USManufacturingPMI #ChartOfTheWeek

The US real GDP increased to 2.8% year-on-year in the third quarter of 2024. This update primarily reflected upward revisions to private inventory investment and non-residential fixed investment as well as downward revisions to exports and consumer spending. Imports, which are a subtraction in the calculation of GDP, were revised down. Source: US Bureau of Economic Analysis (seasonally adjusted annual rates)   #USGDP #USImports #USExports #ChartOfheWeek

One of the biggest advantages of working with a team is the ability to share ideas and learn from every individual. Backed by the collective expertise and combined research efforts of the Glacier and Sanlam Investments Multi-Manager research teams, Navigate International allows us to create solutions that cater to an investors’ changing needs. Find out more about it from one of the Glacier Invest BDMs. #NavigateInternationalByGlacierInvest #NavigateInternational

The RMB/BER Business Confidence Index (BCI) rose to 45 index points in the fourth quarter of 2024, up from 38 in the third quarter. Confidence is now at its best level (notwithstanding the first quarter of 2022) since the second quarter of 2021, when it stood at 50 points, and is just above its long-term average level of 43 index points. Source: BER, SARB (Shaded areas represent economic downswings)   #BusinessConfidenceIndex #ChartOfTheWeek

Are you considering investing offshore? We have created a solution for you, backed by the research capabilities and portfolio construction of our team, allowing you to unlock a world of endless investment opportunities in the global market. Navigate International provides investors with a bespoke or off-the-shelf solution across our specialised, optimised and ETF (Tracker) capabilities. #NavigateInternationalByGlacierInvest #NavigateInternational

The latest US retail sales figures suggest that the economy is growing briskly in the current October-December quarter, after having expanded at a 2.8% annual rate in the previous quarter. Despite inflation easing, many US shoppers are still under pressure from overall still-high prices. Source: US Census Bureau, BNN Bloomberg   #USRetailSales #USInflation

The US yield curve steepened sharply on 6 November, with the gap between two-year and 10-year yields hitting 19.5, the highest since late September. The curve has been on a steepening trend for the last few months, a scenario that occurs when the Fed is cutting interest rates.   Source: LSEG, Reuters, Data as at 6 Nov.   #USElection #USTreasuryYields

The US elections are taking place today, with many forecasting its outcomes. All eyes will be fixated on who the next president of the world’s largest economy will be and policies they will put in place. With policy reforms come global changes. These changes also have an impact on the local economy. We reached out to our local managers - through the assistance of our research team - to get their views on what the US elections mean for the local market and economy. Attached is a compilation of their responses. #USelections #SAEconomy

The US economy added 12 000 jobs in October 2024, well below a downwardly revised 223 000 in September and forecasts of 113 000. It is the lowest job growth since December 2020 when 243 000 jobs were lost, due to the impact of strikes at Boeing.   Source: Trading Economics, US Bureau of Labour Statistics   #USNonFarmPayroll #JobGrowth