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US stocks turn negative after weak jobs report

US stocks turned negative early Friday after the much-watched December US employment report showed the economy added far fewer jobs than expected. About 40 minutes into trade, the Dow Jones Industrial Average fell 55.54 points (0.34 percent) to 16,389.22. The broad-based S&P 500 dropped 4.52 (0.25 precent) to 1,833.61, while the tech-rich Nasdaq Composite Index lost 9.97 (0.24 percent) at 4,146.22. The monthly Labor Department report said the US economy added just 74,000 jobs in December, well below the 197,000 expected by analysts.

Office vacancy rates in U.S. unchanged amid sluggish job growth

By Michelle Conlin (Reuters) - Office vacancy rates in the United States remained unchanged for the fourth quarter of 2013 because lackluster job growth and concerns about the economy muted demand for office space, a preliminary report by real estate research firm Reis Inc said. The national vacancy rate during the quarter was 16.9 percent, similar to the levels Reis has observed over the past three years.

China to keep controls on property market in 2014: minister

BEIJING (Reuters) - China will maintain controls on its property market in 2014 while increasing the land and housing supply in cities facing big home-price prices, the housing minister said, in a sign authorities will not relax efforts to stabilize housing costs. Home prices in big Chinese cities have repeatedly set records despite a four-year long government campaign to cool the market, adding to the threat of a price bubble and social unrest as housing becomes unaffordable.

Canadian economy missed expectations in 2013. Will 2014 perform better?

OTTAWA - Wait until next year. It's a familiar refrain for sports teams, but the premise is getting old for Canadians awaiting the return of an economy that can be counted on for jobs, solid incomes and financial security. As far back as 2010, the Bank of Canada held out the prospect of better times in the year ahead. But unexpected events — whether it was a tsunami in Japan, a debt crisis in Europe, or political shenanigans in Washington — always took the shine off the optimism.

US consumer spending rose 0.5 per cent in Nov., best showing since June; income up 0.2 per cent

WASHINGTON - Americans increased their spending in November by the most in five months, and their income edged up modestly. Consumer spending rose 0.5 per cent from October, when spending had risen 0.4 per cent, the Commerce Department said Monday. It was the best showing since June. The gain was driven by a jump in spending on long-lasting durable goods such as autos.

Spanish factory output slows in October: official data

Spanish factories put the brake on production in October, official data showed Thursday, in a worrying sign for an economy only just emerging from a two-year recession. Output by Spain's factories and utilities fell by 0.8 percent in October from the level in the same period last year, after smoothing out seasonal blips, the National Statistics Institute said. The slowdown appeared to reveal a fragile recovery in Spain, the eurozone's fourth-largest economy, which has endured a double-dip recession since a decade-long property bubble burst in 2008.

Monthly household income grows 2.9 pct in Q3

SEJONG, Nov. 22 (Yonhap) -- Monthly household income in South Korea grew 2.9 percent on-year during the third quarter amid signs the economy is recovering from a prolonged slump, government data showed Friday. The income of households consisting of two members or more averaged 4.26 million won (US$4,012) per month during the July-September period, up from 4.14 million won tallied a year earlier, according to the data provided by Statistics Korea. If adjusted for inflation, income also grew 1.6 percent.

Monthly household income grows 2.9 pct in Q3

SEJONG, Nov. 22 (Yonhap) -- Monthly household income in South Korea grew 2.9 percent on-year during the third quarter amid signs the economy is recovering from a prolonged slump, government data showed Friday. The income of households consisting of two members or more averaged 4.26 million won (US$4,012) per month during the July-September period, up from 4.14 million won tallied a year earlier, according to the data provided by Statistics Korea. If adjusted for inflation, income also grew 1.6 percent.

Recessions linked to cognitive decline in later life

People who go through an economic recession at the peak of their working life suffer a risk of cognitive decline in later years, a study suggested on Wednesday. The findings imply that mental skills may be affected by periods of redundancy or forced moves to part-time, lower-paid or lower-status work. Writing in the Journal of Epidemiology and Community Health, researchers looked at data from a massive European study on health and employment, covering 12,000 people aged 50 years and older in 11 countries.

Further Mexico rate cuts not warranted: central bank deputy

MEXICO CITY (Reuters) - Further cuts to Mexico's interest rate are not warranted, even though downside risks to Mexican growth seem to prevail, Mexican central bank deputy governor Manuel Sanchez said in a presentation published on Friday. Mexico's central bank has cut its benchmark interest rate three times this year to counter an economic slowdown. The economy shrank in the second quarter for the first time in four years on weak government spending and construction.
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