SG: Eco Analysis - US Housing: Signs of life in residential construction activity (B. Jones)

Eco Analysis - US Housing: Signs of life in residential construction activity (B. Jones)
2011.11.17 08:39 AM

■ Housing starts and building permits eclipsed Street expectations in October

The Census Bureau reported that the number of new housing units started dipped by 0.3% to a seasonally adjusted annual rate of 628,000 in October, holding on to all but a fraction of September's reported 7.7% surge. The number of new building permits issued jumped by 10.9% to 653,000 the highest level since March 2010. The reported figures were considerably higher than the respective median consensus forecasts of 610,000 and 603,000.

WSJ: Banks Face Funding Stress

Banks Face Funding Stress
European Institutions Resort to Potentially Risky Swaps to Generate Liquidity
2011.11.17 01:43 AM
By DAVID ENRICH

LONDON—European banks, increasingly concerned about their ability to access funding, are devising complex and potentially risky new deals that enable them to continue borrowing from the European Central Bank.

USA Today: U.S. economy showing signs of life by several measures

U.S. economy showing signs of life by several measures
From AP Business reports

WASHINGTON – U.S. industrial production rose in October at the fastest rate in three months. Factories made more trucks, electronics and business equipment, a sign that manufacturing is recovering after slowing this spring.

WSJ: Youth Hit as U.K. Jobless Rate Rises

EUROPE NEWS NOVEMBER 16, 2011, 3:21 P.M. ET
Youth Hit as U.K. Jobless Rate Rises
Bank of England lowers its growth forecasts

By ILONA BILLINGTON and ALEX BRITTAIN

LONDON—U.K. unemployment rose again in October, while the number of young people without a job topped one million at the end of September, data showed Wednesday, increasing political pressure on Prime Minister David Cameron to come up with a solution to an issue that has plagued consecutive governments.

USA Today: Homebuilders feel less pessimistic in November

Homebuilders feel less pessimistic in November
By Derek Kravitz, Associated Press 2011.11.16 10:49 AM

WASHINGTON – Homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon.

CNNMoney: Will FHA be the next big government bailout?

Will FHA be the next big government bailout?
By Tami Luhby @CNNMoney November 15, 2011: 8:14 PM ET

NEW YORK (CNNMoney) -- Continued trouble in the housing market has further eroded the Federal Housing Administration's reserves, leaving it with a very thin cushion to protect it against future financial losses.

Reuters: France draws fire after "alarm bells" warning

France draws fire after "alarm bells" warning
By Daniel Flynn and James Mackenzie

PARIS/ROME | Tue Nov 15, 2011 6:52pm EST

(Reuters) - France came under heavy fire on global markets Tuesday, reflecting fears that the euro zone's second biggest economy is being sucked into a spiraling debt crisis.

Bloomberg: Electronics Boost U.S. Retail Sales

Electronics Boost U.S. Retail Sales
By Shobhana Chandra - 2011.11.15 02:31 PM

Retail sales rose more than projected in October as American shoppers gave the economy a boost at the start of the fourth quarter.

Bloomberg: German Investor Confidence at Three-Year Low

German Investor Confidence at Three-Year Low
By Gabi Thesing - 2011.11.15 02:16 AM

German investor confidence fell to a three-year low in November on concern the sovereign debt crisis will push Europe’s largest economy into recession.

Bloomberg: German, French GDP Grew in Q3 on Spending

German, French GDP Grew in Q3 on Spending
By Jana Randow and Mark Deen - 2011.11.15 01:15 AM

German and French economic growth rebounded in the third quarter on stronger consumer spending, even as the region braces for a recession sparked by an escalating sovereign debt crisis.